Better results and better patient care start with the right information
In this age of technology, how we access and use information is power. Reporting and business intelligence tools are no longer just nice tools to run a business – it’s about understanding how every part your business operates. This provides a clear picture of your results and can improve how to make informed management decisions.
Here are three ways that Information Technology can help achieve these goals, and move your HME business Forward.
Boost Your Productivity
The first thing that metrics and reporting do is provide a holistic, 360-degree view into your organization’s performance. They connect you to your entire workforce, and your workforce is connected to the data. That means improved organizational workflow and efficiency. Brightree‘s solutions not only connect you to your data, they enable you to see all areas of your operation in one place.
Monitor and measure the success of your products, your team’s productivity and sales with state-of-the-art dashboards and key performance indicators that will lead to smart and timely decision making. Gain a deeper insight into your business and maximize your ROI.
More specifically, what can a comprehensive business management system do to help you make the right decisions to grow?
|✔ Reduce costs, enhance quality, improve patient experience
✔ Find the right path forward with the right information
✔ Identify cost trends and make viable long-term strategies
✔ Quickly access information by creating your own reports
✔ Identify data sources from areas like patients, orders, invoices, audit trails
✔ Monitor areas like DSO, revenue billed versus collected, revenue held for pending documentation.
Deliver Meaningful Information to Your Referral Sources
As CMS continues to enforce better patient outcomes as a measure for reimbursements, what matters most is improving the condition of the patient and limiting acute-care readmission. Therapy compliance and patient education help meet these goals and minimize the cost of chronic disease management. Why wait 90 days to prove compliance use through patient follow-up when real-time integration, directly from the equipment, can help you prove compliance and document what you need for billing in 30 days?
Patients receive better care because non-compliance can be determined earlier, so you know which patients you need to assist with compliance. Sleep therapy compliance helps you deliver meaningful information to your acute-care referral sources and avoid readmissions since you’re helping more of their patients comply with home therapy care protocols.
As a provider, you need to determine product profitability at various reimbursement rates. Brightree’s Product Profitability Analyzer uses your actual sales data to instantly calculate gross and net profit for all payers or for selected payers. You can input your fixed costs such as delivery, administration, and overhead, and select from several cost allocation methodologies. Results can be summarized by product category or detailed by HCPCS code. The Analyzer provides price tables for the new competitive bid area. Now you can quickly see what the effect of changing reimbursements are for your products without using standalone spreadsheets and tools, or employing costly consultants. Get the right tools to make successful strategic plans for your business. Do it with Brightree. Many organizations rely on Brightree to help them focus on the things that matter most to their business. Our robust cloud-based business management software and integrated solutions provide everything you need to generate new cash flows, share data seamlessly with your referral sources, dramatically streamline operations, and improve profitability.
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