Posted Saturday, March 12, 2022
To analyze potential risks and opportunities to help them make education decisions hospices are integrating business intelligence into their business model. “Business intelligence” is the process and technology a company uses to collect and analyze data produced from their activities.
“To implement this effectively, hospices need insight into all the processes within their organizations that impact their revenue cycle, so they can “put sightlines from front-end to back-end processes,” according to Maureen Lehsten, principal of health care consulting at Freed Maxick.
“One of the highest priorities is managing revenue cycles to care for the patients,” Lehsten said. “They need to eliminate pebbles in the stream and make sure they don’t have a boulder in the cash flow, reducing the time from the patient coming in and cash coming in.”
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