MedeAnalytics Introduces Online Clinical Calculator that Quantifies the Potential Impact of Three Initiatives to Increase Hospital Profitability
EMERYVILLE, Calif., March 4, 2013 /PRNewswire/ — MedeAnalytics, a leading provider of healthcare performance management solutions, released today at HIMSS13 in New Orleans, La. an online clinical calculator that estimates–for each hospital–the potential impact of three initiatives to increase profitability. The initiatives pertain to improving physician performance, average length of stay, and readmissions.
The calculator provides for each hospital a customized estimate of the financial impact of improvements in these areas. For physician performance, the calculator quantifies the potential benefit of improved physician coding specificity, reduced supply expenses, reduced or eliminated hospital-acquired conditions (HACs) penalties, and gaining Hospital Value-Based Purchasing Program bonus payments. With regard to average length of stay, the calculator estimates the potential financial impacts of reducing variability of physician practice, evaluating physician practices, and reducing hospital days. The calculator also computes the impact on readmissions of improved care coordination and reduced penalties for unnecessary readmissions.
“Clinical business intelligence and performance analytics are not just a medical necessity, but a financial imperative as well,” said MedeAnalytics’ Chief Nursing Officer Kathleen Kimmel. “The worsening financial squeeze on hospitals requires more sophisticated approaches to financial viability–such as this innovative clinical calculator–with analytics focused on practice variability, length of stay reduction and readmissions.”
Founded in 1994, MedeAnalytics delivers performance management solutions across the healthcare system–including hospitals, physician practices and payers–to ensure accountability and improve financial, operational and clinical outcomes. For more information, visit www.medeanalytics.com.
For more information: MedeAnalytics, Inc. Gary Summers 5858 Horton Street, Suite 475 Lewis & Summers Public Relations Emeryville, CA 94608 (925) 954-8187 firstname.lastname@example.org