To effectively manage cost, healthcare leaders need the right data, provided to the right people, at the right time. UPMC first integrated patient- and physician-level analytics to gain better insight into operating costs and clinical variation across its provider footprint. More recently, they assessed their existing labor budget and productivity system, a decades-old, homegrown tool with outdated functionality and limited reporting on FTEs. Recognizing the opportunity for an improved solution, UPMC launched integrated department- and leader-level labor budget and productivity analytics, putting invaluable staffing and productivity information into the hands of operational leaders across its many hospitals.
Goals of this session:
- Understand the current challenges facing providers, including horizontal competition from large insurers and digital disrupters, headwinds from price transparency, and growth in managed care programs, like Medicare Advantage.
- Introduce a new approach to cost transformation, utilizing existing EHR data to create patient- and physician-level costing, and measuring clinicians based on value and the “Triple Aim.”
- Identify the elements of an effective labor budgeting and productivity solution, including key functionality for finance and operational users.
- Describe how data at the right grain increases the accuracy of analytics—and results in actionable improvements.
- Articulate the keys to success for labor analytics, including in-depth analysis of historical operations and staffing, consistent training and documentation, and engagement of key operating teams across the organization.