As health care moves away from fee-for-service to value-based care models, hospitals need better tools to compete. We recently published two eBooks, one about the key trends defining a new healthcare marketplace and one about the importance of critical analytics.

You may be asking yourself: Does my hospital have the financial analytics capabilities to succeed? Take this quiz and see.

1. The CMIO asks for a cost report on readmissions, organized by diagnosis and physician. Can you give it to her?

2. You suspect one physician is underperforming on profitability. Can you compare his performance with others in his peer group and drill into the data to determine clinical or operational improvements to course correct?

3. Before ordering a knee replacement device, a physician asks if you have any comparative cost to outcomes data to help negotiate with the vendor. Is that something you have on hand?

4. Your organization has just completed its strategic plan based on a series of complex assumptions. Can you connect it in a tangible way to your operating budget?

5. Have you identified costs and margins by  chronic disease population your organization serves including those patients not coded as such, but with clinical indicators.

6. You’re about to negotiate contract rates with a major payer, who believes your admission rates are increasing. Can you walk into that meeting with a report that shows the real story?*

7. Your organization launched asthma education programs to increase the number of patients in control of their disease. Can you model the financial impact as this population moves out of high-risk categories?

8. One team would like to expand services with new equipment and staff. Can you model the financial impact of this investment?

9. Can you provide insights at the point of care about treatments that achieve equal or better clinical outcomes at a lower cost?

10. Do you know that you are getting reimbursed at the rates you agreed to for every service with every payer?

If you answered “yes” to most of these questions, then you’re in good shape. If you’d like to learn more about the future healthcare marketplace, download our free eBooks on trends and analytics.

*Editor’s Note: For more on a real-life example of this, see this blog post: How Allscripts EPSi helped one hospital recover $4.5 million

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About the author

Matt O’Connor is the Director, Market Segment at Allscripts for financial performance solutions that include the KLAS Category Leading solution, Allscripts EPSi, and our benchmarking solution, PEAK. In this role he provides market and competitive intelligence and delivers strategic sales plans and sales enablement tools to the Financial Performance Sales Executives. O’Connor has over 20 years of sales, sales management, marketing, and operational leadership. Prior to joining Allscripts in 2007, Matt spent fifteen years in the IT industry as a top-performing representative, held several senior sales management and operational roles, and eventually led a team of 400 sales executives across the Mid-Atlantic region. O’Connor holds a BS in Marketing and an MBA with honors from Minnesota University. Throughout his career he has earned numerous client service, performance, and leadership awards.

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