This article was written by Lisa Miller.
VIE Healthcare’s Different Analytics
We are often asked what makes VIE Healthcare’s analytics different compared to other providers in the sector.
After gathering feedback from our clients and reviewing our many successful margin improvement initiatives, here’s our answer:
We anticipate what is happening in healthcare. This is an issue that is important to me on a personal level. In essence, VIE Healthcare Consulting is the same core company that was formed in 1999, but in other ways, we are quite different. As the healthcare sector has evolved dramatically in that time, we have evolved with it. For instance:
- We are innovative – our automated Invoice ROI™ process for purchased services spend epitomizes our approach to innovation.
- We work with our clients to understand their challenges. Every health system is unique and it’s our responsibility to understand that uniqueness and provide solutions that work within that context.
- We regularly seek out new opportunities for cost reduction.
- We’re able to rapidly assimilate data and the impact of regulatory changes on hospitals.
In summary, since our foundation in 1999, our approach has evolved to incorporate the many and disruptive changes that have taken place in healthcare.
#2: We Identify Cost Saving Opportunities Across Several Platforms
Hospitals require many different systems to work together to maximize potential cost savings, including the financial system, OR system and materials management system. Drawing on our extensive expertise, we understand these diverse platforms and extract the data needed to gain insights into the true cost and profitability by department. With that clarity, we maximize cost saving opportunities across your hospital.
#3: Looking Beyond Silos
When it comes to data, hospital functions often work in isolation preventing an accurate picture from being formed. We are skilled at examining data in different, disparate systems to give vital clarity to our clients in relation to performance, cost and profitability.
We operate on the maximum of ‘what can be measured, can be improved.’
Data analytics is essential to maximize cost savings for hospitals. At VIE Healthcare, we work on the basis of 'what can be measured, can be improved.' Click To Tweet
#4: Adopting a Holistic Approach
Healthcare ethnography is part of our holistic approach.
Gaining front line insights from the viewpoint of patients, their families and caretakers is essential to improve the quality of patient care. Our ethnographers use this qualitative research methodology to understand how to improve individual departments within your hospital, leading to greater patient and family satisfaction.
Our holistic approach involves gathering subjective insights to accompany data analytics and equip your hospital with the tools it needs for continuous innovation and improvement.
#5: We Offer Sustainable Cost Reduction Strategies
Our goal is for our clients to implement effective cost saving strategies which enable them to deliver better patient care. Sustainability is the key to success in our approach, which is achieved through our training programs in areas such as contract negotiation. We train your employees in advanced strategies and analytics required to successfully negotiate with your vendors.
Smart purchasing is essential to the success of your hospital, but many healthcare organizations struggle to accurately measure their purchasing performance.
I believe that KPIs and dashboards are vital for successful cost reduction strategies. Our dashboards come with 20 of the most critical built-in procurement indicators to promote real-time decision making and continuous improvements across the supply chain.
#7: Bringing in Best Practice
At times, the healthcare industry has been slower to respond to innovation than other sectors. At VIE Healthcare, we endeavor to introduce best practices from other industries to drive margin improvement and deliver quality patient care. Our Invoice ROI™ process is just one example of this approach.
#8: Empowering Your Hospital to Deliver Better Patient Care
The foundation of everything we aim to accomplish is illustrated in the way we support and empower hospitals to engage with their patients and deliver exceptional care.