5 strategies to combine clinical and financial insights
Our client base reflects some of the finest financial decision support teams in the United States. These teams help put Allscripts EPSiTM at the top of its class. Our clients are incredibly creative in using EPSi to combine clinical insights and financial data. Some of our favorite client strategies include:
1) A world-class multi-hospital IDN in upstate New York found opportunities to improve operational efficiency and reduce the total cost of care. By setting specific utilization and length-of-stay targets by service line, and aligning those targets with their financial planning process, this client saved $20 million in one year while maintaining a high quality of care. To learn more, click here for the complete outcomes story.
2) A regional healthcare leader in Washington State used EPSi to save more than $981,000 through its clinically and financially valuable palliative care program. By focusing on specific charge codes within clinical documentation, EPSi also helped the healthcare system capture $814,000 in its first eight months and average better than $50,000 per month in ongoing incremental net revenue. To learn more, click here for the complete outcomes story.
3) A leading academic healthcare system in Mississippi found ways to reduce unnecessary clinical lab testing and high-cost medication use. This healthcare system found the potential to save more than $1.3 million annually with these changes and plans to use EPSi to find more operational efficiencies. To learn more, click here for the complete outcomes story.
4) A leading regional healthcare system in Texas created metrics to reduce risk of Catheter-Associated Urinary Tract Infections (CAUTIs). It evaluated the cost of actively complying with prevention measures and found the initiative reduced CAUTIs, which in turn reduced length of stay from 14 days to 6 days and average cost per patient from $75,000 to $13,500.
Ready for tomorrow’s decision-support strategy?
Most healthcare organizations look to gain insights into quality and cost by bringing this information together outside of their modeling and forecasting processes. This methodology is often retrospective and based on clinical and financial information already derived in exclusivity of each other.
But there’s another strategy that will yield even greater results:
5) By bringing clinical insights into EPSi to combine with its already deep and broad financial data, healthcare organizations have the opportunity to use that combined data with the capabilities in EPSi to better derive cost or to produce more accurate financial forecasts or plans.
Let’s use an example. Utilization of costly supply items and labor resources is correlated to the intensiveness and clinical risk of the patients that consume those resources. By bringing into EPSi additional clinical insights into intensiveness and risk of those patients, teams can create more accurate cost models to better reflect the resources spent on those cases, resulting in more accurate cost insights.
As another example, with clinical insights from data not fully available with claims information, teams can create financial plans for shifting resources and changing utilization mix to solve for those gaps in care. The result is a much more complete picture of the financial impact of those clinical changes and better resource alignment to ensure success.
EPSi is ready with this capability today. Learn more on our website.