Big Data in the C Suite

These days, data is available in a quantity never before seen, and access to it is both faster and more dynamic.  Healthcare IT News recently looked into how this data affects high level executives and had some interesting results.

CEOs, for instance, who would previously review historical reporting now have access to extensive amounts of real-time data, creating new levels of accountability and ownership.

COOs can preemptively direct transfers to other facilities if clinics are projected to exceed capacity.

CFOs no longer wait for months to end, but can now accurately predict future revenue and cost figures.  Financial decisions are made easier using data like updated accounts receivable days and cash on hand.

One of the biggest changes that has occurred isn’t necessarily in the data itself, but in how it’s consumed by these key decision makers.  Advanced dashboards allow executives to see instantaneous high-level views of hospital metrics, and with a single click, drill down into information that they’d like more detail on.  These are dashboards that are always on and can be accessed even from a phone.

Anecdotally, we’ve seen a universally positive response to the analytics dashboards we’ve implemented for our customers.  On-demand, customizable reporting not only empowers users, but gives them access to data that they may otherwise miss.

Where Extract really comes into play is early on in the data collection process.  While healthcare systems receive a myriad of metrics on the performance of its staff, they also receive a countless pieces of data in the form of outside documents that often arrive through the fax machine.

While we can’t tell you how your discharge scheduling is going, we have an advanced analytics dashboard that tracks the progress of your incoming documents, the efficiency of the staff reviewing them, and the performance of third parties that are causing headaches with low quality scans or incomplete information.

To learn more about how we can get you your data faster and more accurately, reach out today.