Today’s healthcare facilities struggle with the ability to get up-to-date, relevant data that compares them with their peers without a manual effort to submit data for evaluation and comparison. Organizations need access to detailed, consistent benchmarking data so they can make timely organizational decisions and determine actions to be taken for optimal outcomes.
RelayAnalytics Pulse provides visibility into strategic financial trends, both within and outside of your facility. Leveraging RelayHealth’s unique data assets, RelayAnalytics Pulse improves upon traditional benchmarking by automatically providing consistent calculations across peer groups. Pulse helps ensure accurate comparisons of "like" hospitals so you can identify opportunities for improvement or showcase areas of excellence. The insight RelayAnalytics Pulse provides helps you analyze your productivity, align and motivate staff , compare revenue and cash flow, and justify future investments with the data to support your decisions.
RelayAnalytics Pulse leverages RelayHealth’s proprietary data assets to take peer benchmarking to the next level. RelayAnalytics Pulse compares your hospital to other hospitals across a variety of key performance indicators (KPIs) so you can meaningfully assess your performance. You have the flexibility to define your peer set by using criteria such as hospital size, setting, claim volume and hospital type.
In addition, you can create subgroups of hospitals within your own hospital system based on organizational structure or other common characteristics you specify. You can then set peer comparison criteria to analyze and compare hospital productivity and overall performance.
RelayAnalytics Pulse aggregates and updates data from RelayHealth’s vast repository making the benchmarking process effortless and consistent, and eliminates the need to provide the calculations via manually intensive surveys or data loads. Integrating RelayAnalytics Pulse with your revenue cycle strategy will position your hospital to realize the benefits of benchmarking based on robust, dynamic data from facilities just like yours.
RelayAnalytics Pulse helps you identify issues, prioritize your actions, and monitor your status by displaying your current KPI metrics, your target metrics, and the gap for each KPI. In addition, it shows how your facility is performing on each metric compared to your peers. RelayAnalytics Pulse helps track your progress for each monthly goal, and updates you daily so you can proactively monitor your overall target goal attainment.
RelayAnalytics Pulse then takes the monitoring of key metrics a step further helping you focus your improvement efforts or highlight areas where you’re exceeding your peers. The RelayAnalytics Pulse dashboard hones in on the revenue potential or cost savings associated with each KPI, so you can strategically prioritize your process improvement roadmap. Issues with payers, certain specialties, or reasons for errors come to light and when the financial impact of resolving each issue is displayed, you can set your target goals accordingly. Once you identify the focus areas, the Improvement Estimator facilitates scenario and “what if” planning so you can easily determine what the results of your improvement efforts might be.
RelayAnalytics Pulse offers intuitive dashboards that make drilling down for data easy. For example, the Service-to-Payment Velocity KPI provides actionable insight into what part of the revenue cycle causes your payment speed to slow down. This KPI breaks down into multiple sub-KPIs and compares each one to your peers so you can contrast the details, isolate the root cause and quantify the most significant opportunities for revenue acceleration. RelayAnalytics Pulse also provides the ability to view critical KPIs on the iPhone®, so you can stay informed 24/7.