PowerHealth Supports Costing Data Peer Review with PPM Victorian Benchmarking Module
28 May 2019
In response to strong interest at the Healthcare Financial Management Association (HFMA) and the Victorian Clinic Costing User Group, PowerHealth has created a peer review module for PowerPerformance Manager (PPM).
Hospital costing is the process of identifying the inputs and resources
Currently, peer review data is available following submission to the Victorian Cost Data Collection (VCDC) but results are only released annually, a significant period of time after the financial period.
The PPM Victorian Benchmarking Module (VBM) standardises costing data from each participating hospital, transmits data to PowerHealth for amalgamation, and imports anonymised data from each participating hospital. The costing output is standardised to allow meaningful comparison across sites with different internal reference values.
Reports and dashboards have been created using PPM’s built-in query and visualisation tools. Benchmarking data is held in user accessible tables, allowing custom reports and comparisons between live costing and benchmarking data, with the ability to export to any reporting tools or data warehouses currently used by hospitals.
Close to 20 hospitals are currently involved with the Victorian Benchmarking Module, with early results realising a range of tangible benefits:
- Enables analysis of cost data across health units, creating understanding for each hospital about where they differ from their peers
- Provides the opportunity to benchmark, review variations, target problem areas and talk to clinicians about areas of improvement at a classification level
- Allows resource time to be spent on issues that are relevant to each target audience
- Provides the ability to act on results in a timely manner; as soon as costs are entered into the system, users can dial into the server and extract the reports
- Provides the opportunity to support other hospitals by sharing performance improvement initiatives ideas, leading to the development of best practice quality improvement initiatives
- Ensures information is at hand in preparation for the development of budget proposals and reporting requirements
PowerHealth is a dynamic Australian software development company specialising in activity based costing, hospital billing and safety learning solutions for healthcare organisations. The company is a market leader in Australia and New Zealand, with international recognition in the Canada, Ireland, United States, United Kingdom, Hong Kong and the Middle East.
ISO 9001 quality-accredited since 2001, PowerHealth Solutions specialises in large scale implementations ― at public hospitals, State Health Departments, District Health Boards, and private hospitals. Implementation staff are highly skilled and experienced, ensuring that new systems are up and running quickly for a rapid return on investment.