Analytics, big data and interoperability have become common talking points for healthcare providers. As an HLM Intelligence Report stated, “Healthcare leaders now realize that expertise in analytics is a required core competency, vital to an organization’s future survival and success.”
Whether it’s cost control, care coordination, price transparency or patient engagement, the need for data analytics with complex metrics is as important as ever. The essential tool for monitoring multiple metrics is the dashboard.
Dashboards have evolved to cover all healthcare domains. They have become much more than a tracking tool for Days in AR (although still a critical KPI with high deductible plans and increased patient responsibility dollars becoming the norm). Dashboards now go further than the typical operational metrics, like block utilization and ER wait times. At Due North Analytics, we believe a well-designed dashboard should include KPIs that combine the finances and the operations with the indispensable clinical quality metrics. As the industry transitions from volume to value, quality metrics ensure the best proven care accompanied by improved reimbursement. It is imperative organizations gather multifaceted data and accurately monitor all aspects of the business with dashboards.