Healthcare providers need a method to compare data to peers to improve business operations and prioritize initiatives.
A provider wanted to evaluate its practice’s business processes, identify outliers and determine areas for improvement. To help accomplish these objectives, the provider wanted to better understand how they compare to their peers. The provider wanted to view data such as standard visit codes, denial rates and volumes. While the provider can use data in its practice management system to report billings for specific procedures, they are unable to rank their practice against peers.
Leveraging comparative analytics, practices can compare data to peers and identify areas needing improvement. Within RemitDATA’s solution, the provider can configure several reports to benchmark themselves against both state and national peers by creating:
- A Utilization & Analysis report that displays the distribution of new patient visit codes for their payer groups, comparing its codes to state and national data to see how they match up with their peers.
- A second Utilization & Analysis report to compare distribution of established patient visit codes for the payer groups to state and national data of its peers.
- A Denials Analysis report for all service lines to compare their denial rate to state and national peer data.
Contact us today to begin leveraging comparative analytics to set benchmarks and identify potential areas for improvement.