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Healthcare world-wide is facing a crisis with costs rising at a rate of 5-7%pa. In the USA Healthcare cost now represent 16% of GDP, the highest in the world with other developed countries not far behind. With increased demand due to the ageing population this will inevitably lead to an affordability crisis with possible collapse of the healthcare system predicted by many before 2020.
The solution to the problem is complex but one of the issues that must be addressed is Hospital effectiveness and its ability to stay profitable. Cortell addresses this issue with a comprehensive Performance Management system (IntelliMax) that includes a full costing system. This provides hospital excutives and managers with a web-based solution that allows all to identify causes of low performance, drill into detail to identify causes and come up with strategies and tactics to enhance performance,
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IntellImax pulls information together in one easy to use Business Intelligence solution that focus on the areas below:
We help Hospitals achieve: Service line profitability
· With drill through to Cost-to-serve of individual patients
· Clear visibility of resources consumed
· Multi-dimensional views across multiple hospital facilities Measurement of Contract Profitability
· By providing DRG or Procedure costs and relate that to Contracts
· To review Pricing
· Evaluate changes in Case Mix Identify excess costs and overheads
· By providing best practice reviews using Financial Protocols
· Identifying slack or waste in facilities and resources
· Measuring productivity where it matters Revenue Cycle improvement
· By making slack and bottlenecks in the process visible
· Identifying opportunities of lost revenue
· Providing insight into reasons for claim denials Quality Management
· By measuring a large range of quality indicators
· Support Pay-for-Performance
· By measuring Outcomes and provide capability to compare by physician, hospital, etc Supply chain improvements
· By providing analysis of drug and implant costs by vendor and spender
· By highlighting inefficient procurement and supply chain processes
· Understanding waste of consumables and materials Process improvement
· By calculating cost of all process activities, allowing review of all costs and thruput
· Indicating non-value adding activities
· Providing the basis for scenario analysis, including variability of costs Intelligent Forecasting capability
· By using Financial Protocols and Activity-based budgeting
· Using known patterns of Resource consumption
· Providing what-if scenario analysis
We do this by: Reorganizing existing data
· Using modern Business Intelligence technologies to extract and manipulate data and provide Decision Support through our IntelliMax Hospital Intelligence Solution
· Supporting this with our Activity-based costing solution designed for hospitals (ValuMax)
· Balancing back to the GL with no need to restructure the existing GL Providing a web-based Hospital Intelligence solution IntelliMax with lots of content
· With cost analysis by individual Patient, DRG, Procedure and Clinician
· Facility, service line, departmental profitability analysis with drill down to detail
· Capability to define Financial Protocols for benchmarking and best practice
· Collection of quality indicators that support Pay-for-Performance
· Outcomes and clinical indicators to relate to input costs
· Clear visibility into capacity waste and opportunities
· Productivity information for managing scarce and expensive staff
· Revenue analysis with different case mix scenarios
· Capability to do ad-hoc analysis using modern cube technology
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