Healthcare Analytics Services

Delivering insight to strategic, operational & financial planning processes

High-quality performance is rarely the result of chance or intuition. The complex transformation happening in today’s healthcare environment requires the coordination of scarce human, technical and facility resources. Strategic, operational, and financial planning must all be coordinated to effectively develop a plan that can be executed within demanding timelines and other constraints. Engaging outside assistance for planning requires professionals who can grasp the organization’s vision and resources quickly. Spectrum Health Partner professionals have the strategic vision and the tactical skills to bring multiple levels of planning together in a seamless and highly efficient manner.

Spectrum Health Partners’ expertise can extend your own team’s breadth and depth of experience toward the analysis of your organization’s financial and operational data. We can also provide insights and support your organization’s strategic planning, budgeting, physician relations, payor, and service line analytical processes.

Our team of experts work with a hospital’s decision-makers to translate data to support decision making on a project-by-project basis or for ongoing initiatives.

Scope of Services

Best-performing organizations engage in some form of strategic planning that forms the basis for all strategic initiatives and capital funding for a reasonably projected horizon. The financial plan should focus not only on the work being done to support the strategic goals and operating performance, but also contemplate external business development consistent with existing business plans. Spectrum Health Partners professionals have the experience and expertise needed to help guide your organization through the strategic planning process.

As the primary operational goal setting tool, the organization’s annual operating budget is critical to facility performance. Spectrum Health Partners professionals can jump into the trenches to help when you need assistance to augment or lead your staff. We can also provide guidance toward development of operating and capital budgets consistent with established strategic planning targets.

As the range of physician alignment models evolve, so does the need to understand the true value of each physician relationship. These relationships must ultimately be expressed in metrics that allow analysis on a wide range of contributions to the organization’s clinical integration, quality, and financial health. Spectrum Health Partners has a team of professionals who can assist an organization by developing necessary initiatives to improve physician relations.

Enhancing the payor portfolio requires comprehensive analysis to effectively negotiate optimal payment rates and contractual terms. Spectrum Health Partners professionals have the technical skills to review a client’s payor profile, evaluate the relative profitability of each specific contractual relationship, and provide specific recommendations to improve net reimbursable revenue.

Service line performance analysis requires the application of business intelligence. The compilation and analysis of information from a variety of sources to plan, develop and manage the organization’s service lines will work to ensure maximum profitability. Typical measures of performance include:

  • Profit & Loss Metrics – Outpatient revenues, inpatient revenues, reimbursement rates, adjustments, write-offs, costs of labor, materials, overhead, direct contribution margins, and indirect contribution margins.
  • Investment Measures – Facility purchases, equipment purchases and cost of various forms of capital. Operational statistics and ratios. Cases, clinic visits, discharges, patient days, average length of stay.
  • Operational Statistics and Ratios – Cases, clinic visits, discharges, patient days, average length of stay (ALOS), case mix index (CMI), emergency room (ER) visits, admissions and productivity measures.

Spectrum Health Partners is well-prepared to evaluate these metrics for your organization. Our experts will develop a service line analysis to indicate service areas which should be expanded, contracted or possibly closed. Service lines that do not add profitable value to the organization should be scrutinized closely because of their negative impact on the organization.

Find a Partner/Principal

Request a Free Consultation

How Can We Help You?

CONTACT US