Healthcare business leaders are often asked to make important decisions based on data that is incomplete, outdated, and difficult-to-interpret. Although healthcare organizations store large amounts of information, it remains a difficult task to tap into its value by presenting it in a way that is both actionable and easy to understand.
Adding to this complexity:
- Reports generated from this data can be costly due to the staff and time need to produce them.
- The data sources may remain in disparate systems that do not communicate with one another, leading to departmental silos.
- The final deliverables may not provide actionable insights, causing frustration since decisions are not well-informed.
A Single Source of Truth
To transform data into actionable insights, the disparate data sources must be combined into a single source of truth. Only then are staff empowered to improve their own productivity and outcomes. Metrics can be viewed in near real-time, and trends can be evaluated for historical value. This leads to an overall operational improvement of the business. When data becomes knowledge, it becomes a powerful tool for providing actionable insights that are relevant to both staff and decision-makers.
Data Sources are Key
When looking at the operational health of a healthcare business, three data sources must be examined:
- Clinical Data
- Operational Data
- Financial Data
When correlated in a unified data set, they provide the needed actionable insights. For example, opportunities may be presented for increasing capacity for exams, reducing case complications, improving turnaround times (TAT), increasing physician engagement, and maximizing staff resources. With the right tool, these actionable insights are widely available to all staff in an interactive, intuitive, and user-friendly tool. Since they are all looking at the same data, less time is spent debating the credibility of the data and more time is spent collaborating on how to improve productivity.
HealthLevel is the creator of Foundations™, a business operations platform. By combining financial, clinical, and operational data, it paints a complete picture of a business’s operations. It provides a single “source of truth” so that every team member can take action to improve productivity with confidence. Learn more.