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The evolution of business intelligence to drive improvement

April 2013

Participation in a national hospital project has shown one small Maine hospital the importance of business intelligence tools.

The 65-bed Franklin Memorial Hospital, a member of Franklin Community Health Network (FCHN), is taking part in Value Journey, a project organized by the Healthcare Financial Management Association (HFMA). The project sets out to identify common challenges that all healthcare providers are facing as they adapt to a value-based business model, such as the fragmentation of care delivery, as well as common capabilities, strategies and tactics that will help them make the change. Thirty-five hospital systems across the country are taking part.

(See also: Business Intelligence improves the bottom line)

Franklin Memorial has chosen to focus on one facet of the Value Journey project – using business intelligence tools to drive clinical and financial improvement at the hospital said Wayne Bennett, the chief financial officer of FCHN, during a one-day workshop sponsored by the Maine chapter of HFMA.

The hospital began by focusing on a combination of two issues: data warehousing and data integration technologies and desktop query, reporting and analysis tools for self-service access to information, said Bennett.

“Putting the two together – data warehousing and desktop query – allows us to really understand this,” said Bennett. “Relationships of data drive the business intelligence, and you can stop working off of anecdotal information and focus on straight facts. Really, data intelligence is an evolution.”

The above article is from the Healthcare Finance News 1st April 2013 

Read the full Article here


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