Harnessing Data Analytics and Dashboards for Healthcare Success

May 31, 2023
 

In the rapidly evolving landscape of healthcare, managing and growing a practice requires a deep understanding of key performance indicators and the ability to extract meaningful insights from vast amounts of data. That's where optimal data analytics and dashboards come into play. In this blog post, we will explore the importance of leveraging advanced analytics tools, like Viewgol, to effectively manage revenue cycle management (RCM) and ensure the financial health of your healthcare practice.

1. Gain Valuable Insights with Viewgol's Data Analysis and Mapping Process:

Viewgol's process begins by ingesting data from your practice management system, such as NextGen. Through a comprehensive analysis and mapping phase, it provides a snapshot of your practice's performance. By identifying trends and potential gaps in the revenue cycle, Viewgol offers actionable insights that can significantly impact your bottom line. This invaluable information helps you make informed decisions to optimize your RCM.

2. Collaborate with Viewgol's BI Team for Optimal Revenue Cycle Management:

Viewgol's dedicated Business Intelligence (BI) team works closely with your RCM leadership team on a weekly basis. This collaborative approach ensures that your practice's RCM is continuously optimized. By leveraging their expertise and industry knowledge, Viewgol helps streamline processes, improve efficiency, and drive financial growth. The proactive support and guidance offered by the BI team are instrumental in navigating the complexities of healthcare revenue management.

3. Swift Data Processing for Time-Sensitive Insights:

In today's fast-paced healthcare environment, time is of the essence. Viewgol's data processing capabilities far surpass those of traditional systems like NextGen. While NextGen may struggle to access certain data or take hours to generate reports, Viewgol can swiftly churn through millions of rows of data in just minutes. This efficiency enables you to obtain real-time insights and respond promptly to critical revenue cycle challenges.

4. Comprehensive Reporting and Dashboards for Enhanced Visibility:

Viewgol's reporting and dashboards provide a comprehensive view of crucial areas in revenue cycle management. From timely payments and ignored claims to accounts receivable (AR), credit balance, and financial status, these powerful tools offer a holistic perspective on your practice's financial performance. With easily accessible and visually appealing data representations, you can quickly identify areas that require attention and take proactive measures to optimize revenue.

5. Achieve Full Transparency and Prevent Revenue Loss:

One of the most significant advantages of utilizing Viewgol is the ability to achieve full transparency across the entire continuum of revenue cycle management. From contract management to the front end, mid-cycle, and rear cycle processes, Viewgol bridges any existing gaps. By offering a comprehensive understanding of the revenue cycle, Viewgol empowers your practice to identify potential revenue leaks, address them promptly, and maintain a financially healthy organization.

Conclusion:

In the competitive landscape of healthcare, having optimal data analytics and dashboards is crucial for successfully managing and growing your practice. Viewgol's advanced analytics tools provide invaluable insights into your revenue cycle management, allowing you to make informed decisions, improve efficiency, and optimize your financial performance. By leveraging Viewgol's data analysis, comprehensive reporting, and collaboration with their BI team, you can position your healthcare business for sustainable growth and success. Embrace the power of data analytics and dashboards to unlock the full potential of your practice.
 

This post was contributed by Mark Gaines, Vice President of Sales at Viewgol, a leading data analytics platform surfacing key metrics that are often inaccessible by most healthcare PM systems.