Value Management Analytics
This novel module for value optimisation of both cost and quality demonstrates the range of efficiencies for particular quality outcomes.
Depending on the detail and frequency of costing and outcome data progressive tracking and charting for both quality and cost significant improvements can be made. Comparisons can be made across facilities or locally within a facility by selecting a different unit of decision making (eg. DRG, ICD, Doctor).
The closest peers to a selected facility that are on the frontier of best performance can be highlighted as a benchmark comparison for potential improvement.
Value analytics can be applied at multiple levels of decision making from sector-wide facility perspectives down to internal single hospital views that provide insight into areas of performance and improvement such as:
- Nursing FTE vs infections
- Surgeon cost and outcome performance
- Comparison of multiple treatment strategies for efficiency and effectiveness
- Plus many more combinations using available data
How we can help you
Metrixcare can provide you with a scalable cloud platform to continuously integrate both cost and quality performance across your organisation. Real-time benchmarks generated by the platform allow you to compare areas of performance with your peers then manage and track improvements.
Collaborate with the best performers to share learning and innovate further.
Using the platform you can determine the most efficient use of inputs to achieve high value quality of care that maximises benefits for both the patient and your organisation.
This approach allows new ideas to be rapidly tested, refined and then spread – simple really.
Through our academic arrangements with several Universities we can help you to interpret the results and develop valuable insights from this new generation of healthcare analytics.
Why should you be interested?
If you already have the best value possible then you don’t need to worry, at least for a while anyway.
In most cases the patients will benefit. They will get better outcomes and value for money.
Clinicians can be assured that the costs of quality are included and their outcomes are valued.
Payers may even come to pay less.
Insurers will be pleased.
Early adopters can get a market advantage.
Metrixcare has developed a solution using the best available method to make the relationship between quality and your service cost visible. This can be done for any service where the costs are known and quality indicators can be measured. Much of the data already exists in your systems and can be easily integrated into the Metrixcare solution. To build a complete picture of performance we also provide tools to allow additional data to be created and captured.
You can then benchmark your quality and costs against your peers or provide internal perspectives across multi-facility hospital groups. Using our academic advisory services you can then receive interpretation and guidance on how to reach the sweet spot of optimal cost and quality.
- Integrate with existing sources of data (patient, admission, costs & quality)
- Risk adjust patient outcome indicators to allow for relevant comparisons
- Visually see the relationship between cost and quality where you sit within the competitive landscape
- Provides a management framework for achieving optimised levels of performance
Most services will be able to make significant improvements to quality while also reducing costs and track the impact of improvements. This results in increased efficiency and competitiveness using data-driven management tools for quality and cost improvement.
Clinical engagement and buy-in is more likely as the techniques help create a shared conversation about value between the clinical and administrative stakeholders in an organisation.
“Allows hospitals to be organised such that clinicians and administrators can have a dialogue in relation to the common goal of net benefit maximising quality of care”.
Achieving better outcomes for less cost will help to keep insurance premiums lower and contribute to improved profitability.