Today’s healthcare landscape requires looking at business intelligence from a different perspective, and perhaps getting that intelligence from a different source. Traditional CRMs are often nothing more than repositories of customer information that are used solely for list development and campaign execution. However, there are more advanced CRM systems that can do more than just hold data – they can help you make better business decisions.
It all starts with the data you feed into your CRM. If you’re able to integrate clinical and financial data, online and call center activity, channel preferences, and healthcare propensities, you can start viewing how that information interacts. That data then becomes your single source of truth for all patients, market prospects, physicians, and employees (along with any other data you desire), and can then help drive your business decisions.
What’s next is the ability to link analytics to execution. You could examine analytical insights related to value versus volume, patient footpaths/continuums of care, readmission levels, population health, physician leakage, engagements versus encounters, and so much more. Here are three real-world examples from some of our clients:
- Question: What is the breakout of intentional vs. unintentional opiate overdoses, and are there any co-occurring psych DX?
- Findings: 43% of overdoses were admitted to ED (unintentional), 20% into Psych (intentional). There were no co-occurring DX, and income and geography had no effect.
- Conclusion: In addition to answering the initial question, it was also found that prescriptions coming from doctors in the hospital system did not increase the propensity of opioid overdoses.
- Question: Would a monitored exercise program for former inpatients reduce their readmission rates?
- Findings: While those in the exercise program did not see reduced readmission rates, readmits were less costly among participants vs all other hospital admissions. The most dramatic difference occurred in those participants with higher program attendance rates (showed up to half or more of the meetings).
- Conclusion: While the number of readmits didn’t change much, the cost per patient savings of around $6k could be used as a personal reason to encourage people to participate in the program.
- Question: What is the potential risk to the system of a new ER located near us, and how many individuals are closer to that new facility than us?
- Findings: While the new ER was closer to some patients, proximity proved to be less of a factor than travel time. The current location was still the quickest to reach due to better highway access.
- Conclusion: Since less than 5% of the local market would be affected, no major adjustments needed to be made.
Armed with better information, strategists and c-level executives can plan short and long-term growth strategies with more confidence than before.
Regardless of the challenge – whether it is strategy, financial, or marketing, the right CRM can help uncover what is happening inside the data and provide guidance that allows the data to lead you to the next step.
If you’re looking for a CRM that can provide this kind of business intelligence, contact us at LionShare to learn more about DIATA.