Healthcare Analytics 101

Healthcare Analytics 101

When it comes to healthcare analytics, there are many data sources, including: internal medical records, external claims data, prescription data, population and disease statistics, contact management systems and patient surveys–all of which can be used to track disease, create continuums of care and improve patient outcomes.

If you’re tasked with growth in your healthcare organization, you’re probably working to better understand how to use data to streamline your work and maximize results. Big data can show hospitals key points within the patient pipeline–including, not only the top providers of care, but which physicians and networks are sharing patients with these providers.

By using organized dashboards and healthcare analytics, you can easily identify what needs to be done in order to nurture existing relationships, recover struggling relationships and redirect leakage.

 

The 3 Primary Sources of Healthcare Analytics

Leaders of today’s physician outreach teams will attest that data is the cornerstone to the successful development, implementation and monitoring of referral development initiatives. Here are the 3 primary data sources that your team can use to gather insights for growth planning:

 

1. Field Intelligence

Data sources: Field visits with providers, administrative team, service line leaders,
recruiters, practice managers & issues analysis

What you can learn:

  • Provider motivations & interactions between hospital-provider & provider-provider
  • Sample referral mapping
  • Referral relationships that may be difficult to navigate
  • Key issues & opportunities

 

2. Internal Intelligence

Data sources: System billing, practice EMR & hospital compare

What you can learn:

  • Historical growth–organization, service line, physician & market
  • Patient experience & quality trends; potential patient pipelines
  • “Good volumes”–payer mix, case mix & direct costs
  • Leakage opportunities & referral trends–top partners, first referrals & key variances

 

3. External Intelligence

Data sources: US census, state hospital association, CMS & all payer claims

What you can learn:

  • Market position & demographics
  • Splitter behaviors–facility & physician loyalty
  • Services poised for growth
  • Network connections–via shared patients
 
Weighing Your Data Options

While many of these data sources can be collected or purchased, it can be labor intensive to gather and analyze them as a team. This is especially true when it comes to organizing and visualizing data in a way that leads to action. Using a business intelligence tool to automate data access and analytics, can play a huge role in helping your organization grow key service lines and provider relationships.

To learn more about healthcare analytics, download our white paper – Going Big with Data. Or reach out to me at porter.foulger@marketware.com to run some sample reports.