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Four Ways to Use Business Intelligence Intelligently – that’s the Ticket

By Prime Care Tech Marketing on Wed, Jan 13, 2016 @ 06:30 PM

iStock_000023837043_Small.jpgYou’re driving down the freeway, heading home from a busy day at work. Remembering the many conversations you had today, you are somewhat preoccupied. You appear to be going with the flow of traffic, but you fail to notice that traffic’s pace is considerably above the posted speed limit. However, your attention is instantly snapped to the here-and-now when you see flashing lights immediately in the rearview mirror. With a statement of frustration (censored, of course), you realize you’ve just been tagged as the bad-boy poster child of speeders and are about to have a one-on-one interview with law enforcement. Now, yes, you have a speedometer. But when was the last time you looked at it?

Having a working speedometer in your car doesn’t prevent you from getting a traffic ticket. It’s only useful if you use it. Likewise, Business Intelligence (BI) is only as good as it is intelligently used. For today’s blog, let me summarize how some of your peers are intelligently using BI.

A vital routine – it’s a matter of culture

We have discovered among our primeVIEW[1] customers that the common thread of success is that BI is an integral part of their corporate culture. Let me quote from a recently-published case study about Health Services Management and how it uses BI, “Today with primeVIEW conspicuously displayed on a large monitor in his office for group discussion, Ray Tyler, HSM’s Chief Operating Officer, and team can observe and examine such Key Performance Indicators (KPIs) as census, labor, RUG levels, and accounts receivables throughout the day.”

In another case study, Greg Seeger, Health Care Management’s Chief Operating Officer, reports, “Since the system is so intuitive, the learning curve was short and our staff could just run with it….We train our team to use primeVIEW as their go-to KPI information source to track census, labor, 5-star, length of stay, clinical quality, receivables, cash flow, and more. It’s a tremendous resource.”

We have also learned from another COO of a large multi-facility, multi-state operation[2] that from the time a new decision maker is hired, the use of Business Intelligence is ingrained into her or his daily routine and reinforced regularly.

Daily - facilitating meaningful conversation and accountability

It’s one thing to have the information; it’s entirely another to know what to do with it. Data mining and business intelligence foster communication and meaningful conversation. From the corporate to the division to the region and facility levels, BI is the reference point for clinical, cash flow, labor, and compliance-related conversations. Because the information is timely, decision influencers and decision makers are able to address issues before they reach critical mass.

Further, HSM’s Tyler reports that “primeVIEW’s flexible reporting features related to date ranges and formats are also very valuable to us, because primeVIEW enables us to quickly prepare and submit reports to key stakeholders, such as REITs. We can view and report on actual-to-budget reports, wage rates, OT, etc.’”

Some providers have found that BI-generated information is useful in fostering positive working relationships with referral sources by demonstrating on a regular basis admissions, discharges, and rehospitalization rates along with quantifiable clinical data.

Weekly - staff meetings

In this case study, Dean Kiklis, Frontline Management’s Chief Financial Officer observes that “during its Monday morning staff meetings, …primeVIEW plays a large role. ‘We can readily view what is or is not on target. It’s helpful to be able to keep the team focused on what’s important for the coming week with relevant and up-to-date data….It allows us to surgically address challenges as they arise. It’s up to date so we don’t have to wait for someone to create reports for us.’”

Monthly - financial reviews

Tyler’s use of primeVIEW goes beyond daily operations; “he also refers to it during his monthly financial reviews with facility administrators who simultaneously view performance in specific areas of focus. ‘By the time our P&Ls are ready, they are a month or more in arrears,’ commented Tyler. ‘But with primeVIEW, we can discuss what happened last month and examine current KPIs which directly impact financial performance and help us predict month-end outcomes.’”

Conclusion

By making BI a part of the corporate culture, it facilitates timely and meaningful conversation, adds relevancy to weekly planning and goal-evaluation sessions, and breaths relevancy into monthly financial reviews. Now that is a sound way to help executives and their teams achieve their goals on time and on target. Now, that’s the ticket…to success.

[1] PCT’s Business Intelligence tool

[2] It’s case study will be published in the near future.

Topics: business intelligence, mining data, financial reviews, Using BI intelligently, Making BI a daily routine, Using Business Intelligence, relevant and up-to-date data, monthly financial reviews, weekly planning meetings

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