With the increase in demand for more efficient (and transparent) operations, the healthcare industry is gearing up for more (and better) scorecarding, dashboarding and overall operational and financial reporting and business intelligence. Adopting and xPM (extended performance management) technology & process strategy can connect that demand to all parts of the healthcare management operating system, including budgets, plans & forecasts (for variance reporting), and models & scenarios for initiatives like Pay for Performance.
Some of the top drivers in the industry continue to include Revenue PMPM (Per Member, Per Month), Quality of Care, ALOS (Average Length of Stay), Staffing levels, and other contributors to the balance between care quality and operating margin.
Other xPM initiatives include Reimbursement Planning, DRG (Diagnosis-Related Group) Analysis, Claims analysis and overall performance tracking.
“We think the bigger thing to focus on is the cost and quality of health care… the combination of efficient, effective cost and high quality is how we drive value in healthcare.” – Angela Braly, Wellpoint CEO (Cleveland Plain Dealer, 10/10/07)
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