For Urology Associates, Advanced Practice Analytics is a new opportunity to create insights across the practice’s clinical, operational and financial performance:
Tracking high-dollar drugs, via several dashboard tools:
- Reimbursement Management: The practice no longer needs to wait until the end of the month to see if a claim has been paid. This tool tracks and updates claims data daily, monitoring payments by payer.
- Diagnosis Management: This tool helps the practice see diagnosis trends of each physician, with a particular focus on who is treating the most—and least—prostate cancer.
- Margin Analytics: By easily seeing and tracking current product utilization and reimbursement, the practice can ensure adequate payment for the high-dollar drugs that have a significant impact on financial performance.
Improving revenue cycle management:
The practice outsources accounts receivable management. While practice staff receive several standard monthly reports from the billing company, they can use Advanced Practice Analytics to gain faster access to information throughout the month.
The practice cited that the visibility created by Advanced Practice Analytics altered physician behavior. Not only does it keep them more compliant with protocols, it also helps them have a deeper look into therapeutic trends and productivity metrics.