Utilizing analytics to manage A/R data to the advantage of the organization improves outcomes in the healthcare financial, operational and productivity space.
By: Randal Wynn
As we all utilize analytics in various ways for our healthcare organizations, you may wonder if you are getting strategic and tactical benefits from those available to you. Analytics is the science of analyzing raw data to make informed decisions. Healthcare analytics for Account Receivable not only determine the integrity of historic data, but can also predict accurate future patterns within revenue cycle management (RCM).
JTS Health Partners developed an agnostic, streamlined interface using a powerful data model for the RCM Analytics as a Service solution. nCREAS™ offers a comprehensive set of tools providing predictive and prescriptive outcomes to enhance efficiencies and optimize processes for guiding financial and operational performance. Multiple data sources in near real time, combined into a usable information stream with visual representation, allow accurate comprehension of both positive and problematic trends, as well as pinpoints areas requiring process improvement.
The nCREAS™ suite of A/R Management tools provide dashboards that identify trends in Accounts Receivables, visually demonstrate your incoming billed A/R allowing a view of trends by payor, facility and location if needed to balance staffing levels. Healthcare analytics for accounts receivable predict cash flow and highlight high-value opportunities, as well as demonstrate and compare staff productivity between facilities and locations.
Healthcare Analytics Capabilities
Additionally, the A/R is a general aged trial balance (ATB) report with the powerful drill down ability to view accounts in various hierarchies by age, account number, payor and plan. As calculations are inherently built into the model, there is no need to export data or waste time in Excel building formulas and pivoting. However, nCREAS™ does allow the data to be exported into Excel if that is your preference for communicating with staff.
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See how nCREAS™ can improve your organization's A/R with analytics.