Healthcare executives must manage operations more effectively, ensuring quality care while keeping costs under control. Healthcare providers must make operational decisions that ensure appropriate resource allocation and sound budget allocation, identify the most promising opportunities for financial and operational performance improvement, and quantify return on investment for improvement initiatives.
Benefits
Operational Insights help to:
- Improve operational efficiency by assessing performance and resource utilization through the identification of inefficiencies and by prioritizing opportunities with the greatest impact on clinical and financial outcomes
- Provide precise and relevant information to help hospitals lower costs and increase efficiencies
- Gain new ideas based on best practices with qualitative, evidence-based information that complements quantitative and comparative information
- Evaluate cost performance and FTE utilization to identify factors driving high costs and to build accurate budgets
- Develop a baseline financial position for planning by analyzing volume, revenue and value based on relevant and reliable, quantitative information
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ACTION O-I
To effectively guide their organizations, healthcare executives need accurate, reliable intelligence for performance improvement. With ACTION O-I®, hospitals gain access to the largest database of client-supplied data in the industry. By comparing to industry benchmarks, hospitals can lower their costs and increase their operational efficiency.
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Ascent
Thomson Reuters helps hospitals manage the challenges of revenue cycle management and managed care with decision support for the administrative and clinical functions that contribute to the capture, management and collection of patient service revenue. -
Operational and Financial Strategic Services
Operational flexibility and insight allow hospitals to reduce costs while improving patient care and gaining competitive advantages. To increase flexibility, hospitals must first recognize the need for change and then achieve sustainable improvements. The strategic consulting experts build on the data and insights found in our extensive operational and financial data assets to drive improvement efforts and work with you to implement processes that enable change and measure results. Performance improvement methodologies follow a plan–do–check–act model, and our offerings give you the option of focusing on one aspect or embracing the whole model.