Good decisions are rooted in data. Without it, you are left with either gamble on instinct, or to simply not act. But data-driven decisions are not easy to come by. The problem is accessing the data and making sense of it.
The solution is Equation’s DataRiver. Instead of struggling to overcome challenges related to accessing raw data, the system flows analyzed information directly to the user.
DataRiver integrates four disparate sets of information within a Physician Enterprise, including billing, payroll, financial, and clinical. The raw data is then standardized, cleansed, reconciled and aggregated for apples-to-apples comparison and drill-ability in a single report.
The backbone of DataRiver is Equation’s real-time inquiry and consolidation tool, targeted at physician databases. It uses an On-Line Analytical Processing (OLAP) engine to correlate disparate sets of data. It instantly analyzes the data and flows the information directly to the user in the form of dashboards, standard reports, ad hoc reports, and interactive and research pivot tables, which are native in Microsoft Excel for user-friendly outputs of digestible business intelligence.
Physician Analyzer is the healthcare industry’s only method for calculating the gaps across all 10 economic drivers of physician practices in one tool. The process is based on gathering physician practice billing, payroll and financial data. DataRiver’s proprietary algorithms along with industry benchmarks are applied to the data, resulting in the calculated gaps. The gaps explain the reason for and the magnitude of loss within each of the 10 economic drivers of physician practice:
Many hospitals are acquiring medical practices and employing or contracting with physicians as part of their alignment strategy. Yet more often than not, there remains to be a large gap between alignment and integration, which could lead to significant financial loss and underperformance.
The Service Line Analyzer (SLA) enables you to drill down into hospital inpatient, outpatient, and physician practice data to achieve improvements in quality and productivity within your service lines across departments and across the continuum. The SLAs flexibility allows for customizations to the service lines. It also incorporates direct and indirect costing methods.
The SLA can sort by multiple service line definitions enabling the user to compare differences and outcomes based on modifications to base service line definitions. SLA cube technology allows clients to sort and slice data by physician, department, patient age or demographic cohort and do analysis that can show profitability by type of patients within a service line by physician and location. The analytical capabilities enable more effective strategic planning and can assist in determining whether a product line can be profitable or should be eliminated.
Downstream Analyzer empowers Hospitals and Practice Managers with a more complete picture of the total operation. It determines the downstream value of an employed physician. Unlike any other analysis in the industry, it consolidates hospital inpatient and outpatient data with physician data and gives unprecedented visibility into the value provided by a physician practice or hospital service. The Downstream Analyzer solution provides a proven and trusted methodology that gives reliable results that can be implemented in only sixty days.