analytic.li is on a mission to arm leaders with real-time operational data to improve the bottom line of their business. Every organization has mounds of information and most, struggle with where to focus. Here’s where we would start …
What to track?
Many times, we’re asked, “how do I unlock the value of my existing data to make smarter and more timely operational decisions to improve my bottom line?” Our usual first step is to take an inventory of your systems and the manual processes that are needed to deliver information to the right stakeholders in the organization. Many times, the data sources our healthcare customers operate out of include:
- Human Capital Management (HCM): Payroll, Timekeeping, Benefits, Talent Acquisition
- Electronic Medical Records (EMR): Census, Length of Stay, Care Type Provided, Revenue, Skill Matrix,
- Accounting System: Revenue
- Budgets, Targets, and Goals
How to track?
Depending on the combination of systems above, our second step is to narrow in on Key Performance Indicators that highlight the health of the business that will be shared throughout the various levels of the organization. A short list of those we start with include:
- Labor Margin: Revenue - Labor Expense $
- Process Efficiency: EMR Patient Care Hours / Workforce Labor Hours
- Hours Per Patient: Workforce Labor Hours / EMR Census
- Cost Per Patient Cared For: Workforce Labor Dollars / EMR Census
The metrics above typically have a comparative counterpart in the form of a Budget, Target, or Goal. By viewing the variances to these measures multiple times per day, and being armed with workforce hours and inferred labor expense on a per hour, shift, day, week, or annual basis, Operations and Front Line Managers can spot inefficiencies and work that has been injected into their areas of the business. This insight then allows them to make the necessary operational adjustments, resulting in democratization of operational decisions and one single source of truth.
By shortening the distance between question, answer, and action, analytic.li helps organizations adjust labor levels and production needs based on the minute-by-minute changes in demand.
How to get started
If you interested in learning more about how your organization can benefit from our workforce analytics platform, please reach out to firstname.lastname@example.org to set up a free 60-minute consultation with one of our Solutions Consultants. During this time, we’ll uncover what types of metrics and cloud-based dashboards analytic.li can provide to your team to drive profitability and return on investment.