Business intelligence critical for rural hospitals
February 6, 2015 in Medical Technology
Analytics tools are increasingly being deployed across healthcare, but in few places are investments in those technologies more important than at small and rural hospitals.
[See also: Rural hospitals get cash to connect]
While hospitals in remote locations keep tabs on the same financial metrics as their larger and more urban counterparts, there are some critical issue that bear watching for facilities with much less room for error, according to Kurt Ullman, writing in Healthcare Finance News.
That means business intelligence and analytics tools should be a key component of those hospitals’s revenue strategy – especially as the reimbursement landscape evolves.
[See also: Business intelligence apps give organizations control]
“Like larger community hospitals, days cash on hand and keeping both gross and net days in accounts receivable at 45 days or less is crucial,” Eric K. Shell, director at Portland, Maine-based Stroudwater Associates, tells Ullman. “These measures become especially important as we straddle two payment systems, making the transition from fee-for-service to population-based reimbursements.”
Read more at Healthcare Finance News.