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Using Analytics to Measure your
Revenue Cycle

Performance

Utilizing analytics daily to measure operational efficiency To capitalize on your analytical toolset, you need to group
positions your organization to gain insight into potential reports into categories. For example, auditing, laboratory
issues that could spiral into damaging consequences if statistics, financial statistics, and operations. From this
allowed to continue unchecked. High-level examples point, you would develop the process to define set up,
include a broken workflow, a software hiccup, a setup implement, and maintain these reports. Analytics reporting
issue, a human error, changes in payer policies, and is crucial in today’s fast-moving environment. How it is
manual processes that impact productivity efficiency. deployed is up to your organization. You can use it as
This partial list represents potential choke points. a fire fighting tool to define the casualties in lost revenue
If not corrected the impact could range from lower gross or as a monitoring tool in revenue loss prevention.
charges from an impaired charge generation process
to a decrease in payments from rejection or denials.

Data is a powerful agent for change, and because
of this, it is important to know how the data
is gathered, cleaned, and presented to tell the story.
Analytics combined with operational knowledge
can turn you into a “data detective.” The key to being
an exceptional data detective is to have the tools of the
trade, in this case, a set of dashboards with defined
acceptable ranges where you want to be. Think of a traffic
light that has three stages of warnings: green, yellow,
or red. This monitoring approach drives accountability,
creating opportunities to be proactive instead of reactive.

Editorial