Today’s Healthcare Challenges
In a world of uncertain reimbursement models and the never ending rise in healthcare costs, we can no longer solely rely on revenue management. In any industry, successful organizations are those that know their true costs and control them. Craneware is proud to announce the development of Trisus® CARE which integrates financial, clinical, and operational data at the patient registration level to provide insight into true costs. This game-changing approach to activity-based costing introduces manufacturing cost management techniques into healthcare, which will revolutionize the healthcare industry.
As the healthcare industry moves away from a fee-for-service model and heads toward a value-based approach, outcomes are increasingly evaluated on both cost and quality of care. The importance of understanding cost across the hospital, department, and medical condition is essential to detecting possibilities for cost saving opportunities. Traditionally, healthcare IT systems have relied on estimations of costs and other surrogate markers to approximate the cost against revenue streams such as DRGs. This has led to a poor understanding of whether revenue covers costs by medical condition. When negotiating with payors, providers are at a significant disadvantage by not knowing their true costs.
Trisus® CARE levels that playing field. Those providers that fail to implement a true cost analytics solution are at a competitive disadvantage compared to those that have, resulting in lost market share from poor strategic and process improvement decisions. Trisus® CARE sheds light on how individual process variations made by physicians produce different profit margins by medical condition. The power of the tool comes from the ability to use these insights to drive clinical process improvements that not only maximize clinical outcomes, but also financial outcomes.
Analytics You Can Trust Trisus®
CARE is a cost analytics decision support tool that integrates revenue, 15% of every $ goes to revenue cycle inefficiency1 cost, clinical, and hospital operational information for each patient encounter, throughout the journey of their medical condition, accumulating all patient costs from patient activities and services consumed during their care. Trisus® CARE is patient-centric and provides information at a patient level that facilitates the aggregation of cost, revenue, and P/L by hospital service, DRG, and physician. Overall, it provides data for service line analytics and gives the ability to view physician practice variability. The solution also facilitates the benchmarking of services across multiple dimensions (hospital, physician specialty, cost center, physician, DRG, etc.).
Trisus® CARE generates custom visualizations. Visualizations are dynamic, interactive reports that change with each user-applied selector. As users continue to refine their search criteria, visualizations actively change on screen to display the changing effect of the selections.
As a result, Trisus® CARE empowers your organization to perform your own analysis and implement clinical and operational decisions through the use of the solution’s data discovery tools.
The Value Proposition of Trisus® CARE
- True Patient Cost – Understanding the true cost of care in order to determine the profitability by individual patient or by medical condition. It provides the visibility of total cost by specialty, physician, or registration number.
- Contract Management – Negotiating fee-for-service contracts and supporting the development of bundled payment strategies.
- Resource Consumption – A horizontal cost tracking analysis that exposes resource consumption and specific cost information by medical condition or DRG, physician, or service line.
- Physician Variability – The necessary tools to expose variations in individual care practices or variations in care at the sub-specialty level across hospitals within a system.
- Hospital Services Analysis – Activity and cost information for each individual service center (radiology, cath lab, OR, etc.), linking it with the horizontal perspective of service line (medical condition).
- Process Improvement – Initiation of activities and projects to improve performances in an actionable and measureable way.
- Data Discovery – In-depth data discovery metrics to be quickly exported in both reporting and presentation formats.
- Cultural Change – Promoting conversation regarding utilization of hospital resource regarding patient care, which triggers changes in operational processes and ultimately promotes more efficient physician behavior.
Benefits of Trisus® CARE
- Cloud-based solution hosted securely on MS Azure
- No hardware or software installation required
- Customized, client-specific queries written to extract all data
- Visualizations are updated automatically with new monthly customer data feeds
- Support of CHI Team to manage the following:
- Initial implementation data extraction
- Monthly data processing and modeling
- Provision of reports for analysis and data discovery
- Quick implementation lasting approximately 3-6 months depending on size of organization
- Easy access by any mobile device, tablet, or desktop making data available anytime . . . anywhere