1. How Reporting, BI, and Advanced Analytics can work for you
Centricity LIVE
April 30, 2015

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4. Signpost
Introductions From actionable reports to advanced analytics Reporting Business Intelligence Advanced analytics DenialsIQ™ How to read DenialsIQ™ insights

5. Introductions

6. Introductions
Travis Frosch – GEHC – Senior Product Manager

7. From actionable reports to advanced analytics
Sets the table for what solution works best for you (customer)

8. From actionable reports to advanced analytics
Reporting (Data Mining)
Business Intelligence
Advanced Analytics
Definition
Analyzes or extracts data from a database to identify patterns or relationships.
Extracts and analyzes various forms of data, with specialized applications to support business operations.
A data mining process that creates statistical models to predict
future probabilities and trends.
Functionality
Real-time, native reporting tools to monitor daily activities.
Infrastructure to support optimized historical reporting and dashboarding from multiple data sources.
Advanced algorithms and intuitive, interactive visualizations to easily digest and represent large, complex datasets and concepts.
Customer Benefit
Insight into what is happening
Insight into why it happen?
Insight into what will happen next and what should I do?
Sets the table for what solution works best for you (customer)

9. Reporting

10. Reporting
Ex: DeepSee
Move to leverage existing licenses Real-time, native reporting tools to monitor daily activities Insight into what is happening now Mostly in simple graphs or tabular format

11. Business Intelligence

12. Business Intelligence
Informatics for Centricity Business, Centricity EMR, and Group Management
Infrastructure to support optimized historical reporting and dashboarding from multiple data sources
Insight into why it happen
Automated functionality
*GM discussion occurring with Origin

13. Business Intelligence
Platform update
Complete web-based deployment
Better performance
Rapid response install (6 weeks)
Subscription pricing (opex)
Install 100 hrs.
Customization 50hrs.
25 new reports and dashboards
Available now
Post install customization/ consulting
Centricity Business Informatics v5.3

14. Advanced Analytics

15. Advanced Analytics
DenialsIQ™
Analytics platform built on Predix for Healthcare Using FastWorks + developing framework Advanced algorithms and intuitive, interactive visualizations to easily digest and represent large, complex datasets and concepts. Insight into what will happen next and what should I do?

16. DenialsIQ™

17. Denials are impacting key profitability ratios across the revenue cycle and reducing cost to collect
Increase Costs
Reduce Revenue
50 days, median A/R
5.8% of hospital net patient revenue is bad debt, driven by denials
3.8% of claims denied on first submission
A/R days 50 (median) - HFMA Key Hospital Financial Statistics and Ratio Medians. December 2014
$25 re-work & 50-65% never worked -- MGMA Connection magazine, February 2014
You might be losing thousands of dollars per month in 'unclean' claims
The percentage of claims denied on first submission is 3.8%, according to MGMA’s most recent study, “Cost Survey Report: 2013 Report Based on 2012 Data.” – Medical Economics
50 to 65% of denials are never worked
$25 cost per re-worked claim

18. Maximizing customer success
DenialsIQ™ from GE Healthcare IT helps customers improve financial performance with powerful insights
Advanced algorithm developed by GRC identifies the root cause of denials trends
Maximizing customer success
Software solution, built on Predix, refined by customers using FastWorks
GE’s best and brightest shows that we are leveraging GE’s big brains and enterprise capabilities
The Fastworks story really resonates with customers – it matters to them that the solution was developed hand and hand with customers (like them)
FHC platform shows that we are leveraging healthcare specific technology and GE’s deep experience in healthcare
This slide differentiates our solution from enterprise BI vendors w/out healthcare domain expertise and healthcare legacy vendors who lack enterprise BI capabilities.
GE’s experience in Rev Cycle/consulting amplify performance

19. DenialsIQ™ identifies patterns based on root cause and prioritizes based on value, providing powerful insights without research that drive action
Traditional denial resolution approach
With Insights
DenialsIQ™
“The stuff we don’t know about.”
How Expected
Invoice Count
Denied Charges
Root Cause Algorithm
Dynamic Visualization
A “pile” of denials, each with a reason 300 denials x 1 (unsorted) Trends queried based on experience, intuition
Patterns are identified automatically, can be resolved as a unit and common themes provide context without research
Where are my most costly and unexpected denials trends? How do I fix them more effectively?

20. How to read DenialsIQ™ insights

21. Dynamic visualizations display trends based on user value
Color indicates level of expectedness based on past history #7
17/$167k
Pattern #7
17 denials within pattern
$167k in denied charges
# of factors contributing to a pattern
Reduce cost to collect by focusing resources on solving, not finding, your most valuable problems.

22. What are my largest opportunities?
Help me explore my data to understand my problems.
What are the root causes I can address as a set and stop from recurring?
What are the patterns of my recent denials?

23. Thank you!