Advanced analytics has ushered in a new era of measurable business improvements that go beyond conventional business intelligence. It can save lives, reduce patient readmission rates, and make equipment safer. It also produces improvements in areas like facilities and clinical engineering and business support services. Even single digit gains here can have a big impact on your business.
The benefits of logical combinations
The healthcare industry has seen a flurry of software applications that address the collecting, analyzing and reporting of data. From Electronic Medical Records to building automation, each department has invested in new systems. The problem is that most focus solely on the processes and operation of one specific department.
From a business perspective, this limits process improvement opportunities for the organization as a whole. That’s where advanced data analytics comes in. Here are three examples of how advanced analytics can correlate data sets across department lines to improve to improve business efficiency.
- Building Automation data + Work Order data. When you have the ability to analyze your building’s real-time sensor and device data along with associated work orders, your organization can get predictive with maintenance strategies. That helps assure continued patient comfort and safety without significant downtime.
- Parts Inventory + Accounts Payable. Analyzing parts sitting in inventory with real-time purchases by maintenance or facility staff ensures the right parts are always available. It also lets you leverage purchasing power in a centralized location.
- Real Estate + Financial data. By analyzing real estate data of owned and leased properties along with financial data such as the general ledger, you now have a clear view into service lines and locations. You can see which ones are performing poorly, making process improvement areas easier to identify and address.
It just makes sense to take the data being generated from different departments and use it to benefit the organization as a whole. You’ll find advanced analytics offers you a new level of clarity: the ability to baseline, identify process improvement opportunities, then successfully track individual improvements and their impact on your organization.