Solution helps healthcare providers optimize monthly financial planning and improve strategic decision making to support service line growth and managed care contracts
ORLANDO, Fla., June 17, 2013 – Today MedeAnalytics, a leading provider of healthcare performance management solutions, introduced its new Financial Strategy Analytics solution, a powerful tool that enables hospitals and health systems to proactively manage finances, hone strategic planning, and optimize managed care performance metrics in the context of today’s rapidly changing healthcare marketplace. The solution was introduced at the Healthcare Financial Management Association’s 2013 Annual National Institute in Orlando, Fla.
“Provider organizations are under unrelenting pressure to manage their finances in an uncertain economic environment, with continuing Medicare reimbursement cuts, new value-based reimbursement models and many new financial relationships with managed care payers and physician practices,” said John Hansel, MedeAnalytics’ vice president, Healthcare Provider Solutions. “Our Financial Strategy Analytics solution empowers them to confidently and successfully meet these financial challenges.”
Financial Strategy Analytics provides hospitals and health systems with daily insight into finance, strategic planning and managed care performance metrics. “MedeAnalytics aggregates disparate patient accounting, cost, contract management and other sources of financial data into a web-based, collaborative analytics application to support strategic decision making,” said Hansel. “The solution empowers hospital chief financial officers, vice presidents of finance, directors of managed care, decision support analysts, and finance staff to monitor key performance indicators and understand the root causes of variances, trends and outliers.”
“MedeAnalytics’ technology platform empowers hospital finance departments to automate and improve month-end reserves, increase service line margins, improve the profitability of managed care payer contracts, and understand the financial impacts of new value-based reimbursement models,” added Hansel.
Financial Strategy Analytics Solution’s Core Drivers of Value
- Automate the accounts receivable valuation and reserve management process
- Improve managed care contract negotiations and payer analysis
- Enhance service line margins and strategic planning
- Understand the impact of value-based reimbursement methodologies
- Identify the drivers of cost and margin across the organization
- Manage the financial adjudication of risk-based contracts and shared savings
Founded in 1994, MedeAnalytics delivers performance management solutions across the healthcare system—including hospitals, physician practices and payers—to ensure accountability and improve financial, operational and clinical outcomes. For more information, visit www.medeanalytics.com.