Increase Efficiency & Profitability with Data and Analytics
The most successful hospitals are those that follow the best practices in monitoring their financial and quality metrics while implementing performance improvement activities through action planning.
Stroudwater offers a range of analytics-based products to assist hospitals in:
- Tracking and trending their data
- Analyzing performance metrics
- Benchmarking key financial and quality metrics
- Discovering opportunities for growth and improvement
- Learning about the population they serve
Our products have been developed to assist hospitals and clinic leaders and providers analyze key performance metrics, identify areas for improvement, and enhance overall financial and operational efficiency.
Benchmarking Quality and Financial Data for Measurable Results
The analytics team brings your information to life to drive data backed decision making accompanied by years of experience through professional consulting advice. The ability we give hospitals to track, trend and benchmark quality and financial metrics gives them the power of enhancing overall financial and operational efficiency and discovering opportunities for growth and improvement. Stroudwater stays with you through the process supporting you with technology and advisory services.
Through our swing bed, chargemaster, cost report, clinic and key performance indicator (KPI) dashboards/reports and advisory services our clients have increased swing bed volumes, cleaned up their chargemaster and improved their pricing strategy, discovered opportunities for increased reimbursement through their cost report, seen opportunities for improvements in the clinic operations through their cost report and improvements in their revenue cycle operations from tracking their KPIs.
Strategic Pricing Dashboard
Strategic Pricing Dashboard
The Pricing Dashboard provides hospitals with an efficient way to look at areas of opportunities around pricing, invalid CPT codes, multiple prices for same CPT codes, and missing CPT codes. Several hospitals have used the Pricing Dashboard to get their pricing in sync with the national median, clean up their chargemaster by removing duplicate and unused codes and have reviewed the reports with their department managers to include then in the process.
Cost Report Assessment
Cost Report Assessment
The Cost Report Assessment provides hospitals with insight into how to optimize their cost report by utilizing state and national benchmarking of all cost reports along with an array of tests gleaned from decades of cost report reviews.
Swing Bed Gap Analysis
Swing Bed Gap Analysis
The Swing Bed Gap Analysis provides hospitals with the opportunity to see where they may be able to train their staff in areas to improve patient care, understand they are able to offer additional swing bed services and utilize the marketing flyer to help build their swing bed volumes. CAHs have found this program useful in showing opportunities for staff training and program development.
Swing Bed Quality Reporting Program
Swing Bed Quality Reporting Program
Our clinical team has a webinar series to educate our clients about swing beds, opportunities and growth. The Swing Bed Quality Reporting Program provides hospitals with analysis and benchmarking of swing bed quality metrics, shows opportunities for improvement projects, and provides a marketing piece to assist in growing volumes. Several CAHs have increased their swing bed volumes, found opportunities to offer new services and have better their patient care shown through functional assessment improvement scores.
Rural Health Clinic Dashboard
Rural Health Clinic Dashboard
The RHC team delivers this dashboard with an explanation of the metrics and how they can affect the client’s clinic. The RHC Dashboard gives RHCs an efficient way to analyze key performance metrics, identify areas for improvement through trending and benchmarking, and enhance overall financial and operational efficiency. Our experts spend time one-on-one with the clinics to understand their financial position, needs and opportunities.
