Deloitte Provides Suite of Solutions to Help Health Care Provider Financial Leaders Drive Profitability and Sustainability
LAS VEGAS, June 26, 2016 /PRNewswire/ --
- The movement to value-based care operating models within the health care industry is causing providers to review operating models that enable greater financial efficiency
- Deloitte offers a suite of solutions for health care providers that address the key business issues impacting efficient cost optimization: labor resource analysis, revenue cycle optimization and physician network alignment
- These services facilitate better outcomes and better economics
Deloitte Consulting LLP is highlighting a suite of solutions at the HFMA Annual National Institute that support health care providers in efficiently managing operating costs in a value-based, outcomes-centered world. Three solutions are available for demonstration at the conference, including LaborWise™ which was launched to the market this month.
Deloitte's LaborWise is an advanced analytics engine that provides greater visibility into labor activity and cost by analyzing workforce data – such as paid worked and non-worked time, shift and overtime pay, employment tenure and attendance – within the context of the business strategy and industry. It exposes the root causes of workplace situations that create labor challenges, helping organizations realize hard-dollar labor savings and operational efficiencies. For health care providers, this means operating with a fully optimized workforce that can deliver the quality care within a financially efficient system.
"It is critical for hospitals to have a cost-to-care oriented workforce model due to the movement to value-based care," said Lisa Disselkamp, managing director, Deloitte Consulting LLP, in the workforce strategy and insights practice. "Labor spend is a critical piece of their operating expenses. LaborWise provides a much needed line item analysis of workforce utilization and labor spend. Having that deep insight into how they are operating gives providers a sustainable plan of action and real-time decision support that can keep their workforce fully optimized."
Deloitte's revenue cycle optimization services powered by Revenue Intellect™ provide an end-to-end approach to revenue cycle management to isolate, quantify and prioritize sources of revenue leakage. Revenue Intellect can help identify hidden or difficult to find sources of revenue loss. This helps health care organizations increase operating margins, while improving clinical effectiveness and quality outcomes. The overall goal is a greater focus on value in care delivery and improving patients' overall experiences.
Providers are under increasing pressure to maintain a high value network of aligned physicians, while optimizing performance based on quality, resource use and other criteria defined in the proposed MACRA Merit-Based Incentive Payment System (MIPS) rule. Deloitte's Network Insight™ is a hybrid solution that can deliver a 6:1 to 9:1 ROI through a combination of analytics, services and products supporting the physician and ambulatory services aspects of a value-based environment. The guided analytics, paired with Deloitte Consulting services, can accelerate strategic decision making and operational interventions to improve performance in the post-MACRA environment. Further, Network Insight outputs, coupled with Deloitte Advisory's regulatory and compliance services, can support providers as they manage their MACRA related CMS compliance exposure.
"Revenue Intellect and Network Insight enable organizations to take a closer look at the top issues provider leaders face today – revenue cycle optimization both under fee-for-service and under value-based care; and evaluation and alignment of their physician networks as they prepare for MACRA," said Courtney Thayer, principal, Deloitte Consulting LLP and provider leader, ConvergeHEALTH by Deloitte. "Providers are under increasing pressure to deliver quality care and manage the business and they increasingly need solutions that help them improve both outcomes and economics."
About Deloitte ConsultingDeloitte helps organizations grow their businesses and enhance value by identifying actionable insights. More than 23,000 professionals provide a broad range of capabilities across human capital, strategy and operations, innovation and technology that are aligned to the particular needs of specific sectors, businesses and organizations. Deloitte provides clients with leading business insights that can help generate a tangible and measurable impact.
About ConvergeHEALTH by DeloitteConvergeHEALTH brings powerful, demonstrated analytics platforms and data models. We use advanced proprietary and open source analytics, content and benchmarks through collaboration with industry leaders and deep experiences from Deloitte's life sciences and health care consulting practice to help our clients survive and thrive in the new paradigm of value-based, personalized medicine. For more information, visit www.converge-health.com.
As used in this document, "Deloitte" means Deloitte Consulting LLP, a subsidiary of Deloitte LLP. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/deloitte-provides-suite-of-solutions-to-help-health-care-provider-financial-leaders-drive-profitability-and-sustainability-300290291.html
SOURCE Deloitte Consulting LLP