Products & Technology
Software Reporting Tools
Monitoring metrics is important, and the industry's IT offerings can help.
The industry’s business and billing management systems offer a variety of reporting and data tools that help providers monitor their performance and pinpoint areas of concern or noteworthy productivity. The systems offer reporting tools, as well as executive dashboard features that let provider management monitor their business performance at a glance. And often, both the reporting tools and dashboard features can be customized by the provider in order to dig down to the data that they feel best represents their business performance. So, no matter what performance metrics a provider decides are the right ones for measuring and managing their business, they can regularly monitor those metrics. Let’s take a look at some of the reporting and dashboard features offered by the industry’s systems:
DIABCO – Healthcare Software Solutions, Inc.
The Report Manager helps providers create new reports, or edit any of the 200 existing system reports. All of the system reports can be “printed” to an Excel spreadsheet and modified in that software. The DashboardME feature automatically measure, monitors and analyzes daily processes so that providers can track key areas of company performance.
Bonafide DME Software
Bonafide Management Systems
Bonafide DME software includes inventory management, real-time tracking, just-in-time ordering, point of sale, real-time eligibility and remaining deductible features. It is fully integrated with current HCPCS codes, payors, shipping companies, vendors and manufacturers.
Brightree’s Business Scorecard provides updates on nine Key Performance Indicators with drill down capabilities. The Executive Dashboard looks at business trends in a graphical format. The system’s ad-hoc reporting system is also part of the core Brightree solution, and standard reports provide visibility into the key performance metrics of your business.
Mediware Information Systems
Reporting and analytic modules, powered by Rock-Pond, help providers examine key metrics to see firsthand how competitive bidding and revenue are impacted on a daily basis. The system includes competitive bidding impact analysis and revenue management reporting. Providers can evaluate their company’s revenue in a detailed format; understand potential revenue loss due to inaccurate pricing; analyze metrics at each level, including number of patients, date of service and average amount of claims per patient per claim. They can also break down revenue by the date billed or start date of service using the Revenue Analyzer with Averages, so you can see revenue by specific groupings.
Universal Software Solutions Inc.
Using standard reporting tool incorporated into HDMS, or the optional Reporting Foundation, providers can get high-level overviews or complete detail needed to run their businesses. The HDMS Inventory and Warehouse module provides an up-to-the-minute view of all the items in stock for patient sales and rental and assists you providers maintaining an efficient warehouse.
An executive dashboard may be invoked which presents current and prior period revenues, reimbursements, A/R breakdowns, DSO and other critical metrics. Filters to indicate desired periods and conditions for analysis may be used. All reports requested through Noble*Direct also allow extensive filtering which permit specific user requests.
Integrated reporting filters allow all data to be extracted in multiple formats for review. Customized reporting tools allow providers to select specific information for management reporting, including claims processing information, denial management, and accounts receivable details.
TeamDME! helps providers isolate the information you need to know to better run your business. For instance, the system offers easy-to-understand reports for accounting, and providers print a balance sheet to see where they are financially. Also, they can print income statements to track performance, and see where they need to focus attention on improving. Payables reports show who, what and how much a provider owes. Aged reports show who a provider owes, how much and when due, so they can plan. Cash flow reports show how much providers will need in the next 7, 14 and 21 days to pay vendors.
Pre-built data cubes make it quick and easy to create richly formatted reports. Providers can perform powerful ad hoc analysis directly from Excel to answer pressing information needs. Dashboard metrics, reporting and analytic tools give providers the up-to-date and timely executive overview they are looking for.
Titan, Reimbursement Pro and Webscan Pro
TITAN provides in-depth executive dashboards on key performance indicators such as aged cash, denials, reason codes, payer productivity, staff productivity and utilization. The dashboards can be customized for any payer, procedure, reason code, claim status, location and the combination of several filters. Additionally, TITAN offers comparative analytics, which help providers determine how well, or how poorly, they’re performing compared to the peers.
This article originally appeared in the November 2015 issue of HME Business.