6/18/2018

1

Business Intelligence

Intelligent BusinessCameron Cox, III, MHA, FACMPE

CEO, MSOC Health

Learning Objectives

1. Definitions: (Big) Data, Dashboard, Analytics

2. Review effective dashboard principles

3. Understand important differences between data, analysis and presentation

4. Recognize differences in analytics

5. Review Financial Metrics, Analytics in a practice setting

6/18/2018

2

Agenda

• What is (big) data? What is a dashboard? What is analytics?

• Design Principles of a dashboard– Data and Analysis– Design– Presentation

• Principles of Analytics– Real Time– Predictive – Historical

• Business Intelligence – How to use it…

What is (big) data?

6/18/2018

3

Latest Buzzword

Who better to explain than the internet?

6/18/2018

4

Big Data at work…

What is a dashboard?

6/18/2018

5

It’s hard to drive without a dashboard

Keep your eyes on the road but…..

What is not a dashboard?

• Report

• Just because it’s on-line or web based

• Just because it’s real time

• Balanced Scorecard

• Tool to dive into detail

• Just because it has gauges and graphs

6/18/2018

6

A dashboard is …

… a visual display of the most important information needed to achieve one or more objectives, consolidated and arranged on a

single screen so the information can be monitored at a glance.

DashboardsThe Chosen Tool for Consolidating Data Simply

6/18/2018

7

Please count the # of 7’s in this array:

59374304814959730493

70241382710993183453

59474942479103587494

Now count the # of 7’s:

59374304814959730493

70241382710993183453

59474942479103587494

6/18/2018

8

This….not that

A Dashboard’s Hierarchy of Needs

Clear Presentation

Clear Presentation

Formulated Analysis

Large Data Set

6/18/2018

9

Data

AnalysisAnalysis

6/18/2018

10

PresentationPresentation

What is the purpose of dashboard?

• Mission Statement

• Audience

• Performance Measures (KPI & Metrics)

• What logical groupings will organize the info best?

• What comparisons should be made?

• How frequently will it be updated?

• What actions might be taken?

6/18/2018

11

WATCH OUT! Potential gap ahead…

Time…understand it in your analysis. Real Time versus Time Trends

• Airline Pilot or ICU physician or Call Center

• Retail, Financial, Manufacturing

• Closer to real time better

• Understanding secular/historical trends important also

6/18/2018

12

Trends

• Hour by Hour, Day by Day, Week by Week

• Month by Month, Quarter by Quarter

• Compare to prior hour, day, week, month, quarter, year

• Month to Date, Quarter to Date, Year to Date

Context/Comparisons add Perspective

• Historical– Last period

– Last period 1 year ago

• Benchmark

• Goals or Budgets

• Relative to other providers

• Forecast

6/18/2018

13

You Need Good, Unfiltered Data

• Available-Who did you have to toss under the bus to find this information?

• Reliable -Do you believe these #’s?

• Relevant

• Timely-Last years data is too late.

• Simple, simple, SIMPLE

What is analytics?

6/18/2018

14

Structured Breakdown with purpose

Detailed examination of the elements

– Identifying the elements

– Separating the elements into constituent elements

– Measuring the elements

Analytic Continuum

Descriptive-

What happened?

Diagnostic-

Why did it happen?

Predictive-What will happen?

VA

LUE

DIFFICULTY

6/18/2018

15

Real Time Analytics

How does this work?

6/18/2018

16

Okay…how does this work in healthcare?

Predictive Analytics

6/18/2018

17

How does it work?

How does it work in healthcare?

Increase Marketing Dollars during end of season

Have more open scheduling slots during

end of season

6/18/2018

18

Another example

0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29Total 26 47 32 33 35 39 45 85 38 30 25 18 16 17 38 17 10 87 79 68 10 27 75 54 57 60 50 77 39 71

0

100

200

300

400

500

600

700

800

900

No

Sh

ow

s

# of days between Booking Date and Appt Date

No Shows: Days from Booking Date

Group one week follow-up slot times; advertise

walk in availability at same times

Double book one week follow-ups with other appointments to keep

utilization high

Change booking pattern; encourage

patients to self-schedule follow ups

Data – What do we want to measure…analyze…present

6/18/2018

19

Types of Data

I. VolumeA. Productivity (patients,

encounters, days worked)

B. Activities (procedures, labs, x-ray, calls)

C. Hours/Shifts

II. Quality & ClinicalA. Clinical Quality

B. Patient Satisfaction

III. Billing & FinancialA. Charge Capture &

Gross Revenue

B. Costs

C. Collections

D. Profit/Loss

I. Volumes

• Patient Encounters per day/provider/group

• Procedures per E&M

• Year to Year trends/ Seasonality

• Admits/Discharges

• By Financial Class

• Day of Week

• By CPT Code

• By ICD-9 (soon -10)

6/18/2018

20

II. Quality & Clinical• X-rays per ICD-10

• Scripts per encounter

• Volume of Preventative Well Visits

• Vaccinations to total practice population

• Core Measures

• Nurse calls

• Lab Response Times

• Patient Education Delivery

• Recall rates

• Patient satisfaction

• Wait Times

III. Billing & Financial

• RVU per encounter

• Cost per procedure/category

• Code Distributions

• Patient Responsibility per encounter

• Patients by Payer Class

• Accounts Receivable > 90 days

• PQRS Capture

• Insurance Denials

6/18/2018

21

Don’t Let Tools Confuse YouThe Best Tool is Your Brain

Always Remember:

A Dashboard is a Presentation of the Data

Analytics is an interpretation of the Data

Basics to not forget!!!– P&L

– A/R Analysis

– Revenue Flow

– Financial Classification

6/18/2018

22

Thank you for your time!

Contact

Cameron M. Cox, III

Cameron.Cox@msochealth.com

919-960-0336

Connect with us

www.facebook.com/MSOCHealth

www.linkedin.com/company/MSOC-Health

http://www.msochealth.com/blog/

6/18/2018

23

Thank You

MSOC Health(866) 347-0001

200 Timber Hill Place Suite 221Chapel Hill, NC 27514

www.msochealth.com

Thank You