Maximizing Performance by Bridging the Finance-IT Gap
Singletrack Analytics was established to respond to a growing need in the healthcare industry to integrate large amounts of payment system data in ways that would yield performance insights, monitor care management processes, enable confident decision-making, and support achievement of strategic goals. We do this by helping our clients:
- Develop an understanding of cost drivers
- Develop data-driven strategies for clinical change
- Use the best metrics in the right order with the right visualizations
- Review and recalibrate strategies based on new data
Addressing Payment Data Challenges
- A new environment. New payment models and the continuing proliferation of data within healthcare organizations have increased the need for the capability to analyze large amounts of data while understanding the underlying issues upon which the that analysis is built.
- A sudden need to integrate large quantities of unfamiliar claims payment data. ACOs and Medicare bundled payment participants are often suddenly exposed to large quantities of unfamiliar claims payment data from which someone in the organization must extract critical information.
- Lack of in-house tools and knowledge. Financial and clinical team members rarely have the tools and knowledge to analyze the nature and scale of this data, while IT staff rarely have the payment system knowledge to extract meaningful information. The detailed knowledge of specific payment systems needed to get the right answers from the data is also missing.
- Difficulty measuring and gaining insight into performance. This knowledge gap—and the unrealized potential insight that results from the gap—often inhibits an organization’s ability to compete, grow and succeed. A greater understanding of the drivers of financial performance and clinical improvement is needed.
We address these challenges by designing and implementing payment system analytics solutions that bridge the finance-IT gap and support achievement of strategic goals.
Who We Serve
- Hospitals and other institutional providers, bringing analytical tools and skills to internal staff responsible for financial and clinical reporting
- ACOs and bundled payment participants, assimilating large bundles of unfamiliar data and transforming it into actionable information
- Consulting firms without internal analytics capabilities, working with 835/837 claims data sources to understand payment methods and pitfalls
- Organizations with a need to extract meaningful information from healthcare data