Hospital Metrics3D - Finding ROI in Business Intelligence

Using Business Intelligence software, a midsized hospital recently expanded their treatment capacity by more than 20%, minimized treatment bottlenecks and reduced their Average Length of Stay (ALOS) by 1 day. The effect was equivalent to adding 50 beds to the hospital’s total capacity.

Another hospital increased their profitability by 8% by analyzing and reducing procedure costs relative to reimbursement rates. Executives were able to identify which procedures were consistently losing money for the hospital and take corrective actions. Performance Measurement data was used to negotiate increased reimbursement rates from their payers.

Over the last 10 years, most healthcare institutions have introduced some form of Business Intelligence into their strategic planning process. From multimillion dollar enterprise-wide solutions to division-specific systems, most institutions have had varying results.

Industry experts estimate that less than 5% of hospitals currently using a Business Intelligence or Performance Management solution, have attained the results that are possible with true correlated data.

Decreasing costs while increasing revenue requires a system that is easy to use and permits data to be both compared and analyzed. This ability allows executives to pinpoint the root causes of problem areas.

Now business intelligence solutions can be fully integrated across the organization to provide a “total view” for executive management.

The first and perhaps most important ingredient of an effective Business Intelligence solution is the ability to gather comprehensive data from across the organization. Existing solutions often have too limited a scope to have the kind of impact described above. Collecting and comparing information from clinical, finance, human resources, operations, billings, quality and other systems makes it possible to identify areas for improvement and increased profits.

ABS System Consultants was formed in 1984 by a group of analysts specializing in Decision Support Systems. Serving major corporations, healthcare organizations and government agencies, ABS helped clients leverage their existing business intelligence solutions to decrease operating costs while achieving higher revenues.

Based on the challenges they experienced working with different BI solutions on the market, ABS created Metrics3D, a revolutionary performance management solution. Metrics3D combines comprehensive integrated data with sophisticated business logic and an easy-to-use interface to deliver a tangible Return-on-
Investment (ROI).

Building upon the success of Metrics3D, HospitalMetrics delivers dedicated decision support for healthcare facilities. Over the past 5 years, healthcare executives have used ABS’ technology to significantly improve their financial and operational performance by:

• Integrating all data into a single web-based system
• Providing flexible analysis in real-time
• Using built-in dashboards specifically designed for hospitals

With more than 20 years of experience in business intelligence solutions, ABS Systems is a leader in healthcare decision support. Over the years ABS has worked with many different Business Intelligence vendor solutions to help our customers improve their results. We know how to make Business Intelligence pay off for our customers.

And we guarantee results.

We can make this promise because for over 20 years we have been hired to do just one thing – improve results for our customers.