ANN ARBOR (WWJ) — Truven Health Analytics has released Truven Health Action OI Practice Insights, software designed to help measure, benchmark and improve physician practice performance.
The software improves performance through access to proven comparative data, and is complemented by services to help hospitals take action using the data.
“Higher costs and tightening reimbursement have healthcare organizations at a crossroads,” said Mike Boswood, president and CEO of Truven Health. “Our healthcare data and analytics expertise enable us to help these institutions find ways to streamline costs and improve the patient experience.”
The Practice Insights program provides comparative productivity, cost, and utilization benchmarks coupled with expert support services to identify and address gaps in performance. Client supplied data can be analyzed on a quarterly or annual basis. Data can be sorted into comparative groups based on client defined criteria (e.g., practice specialty, workload volumes) so that the comparisons are relevant and actionable. Institutions can use the data to determine how they compare to similar organizations and can also opt for reciprocal and confidential data-sharing partnerships with their peers to aid with performance improvement.
“Hospitals and practices across the country are reporting annual losses in excess of $180,000 per hospital-employed physician, according to a 2012 MGMA survey,” said Ahsan Rahim, vice president at Truven Health Analytics. “Projections for 2013 expect two thirds of doctors will be directly employed by hospitals, making these losses unsustainable. The Practice Insights program will help organizations conduct meaningful comparative analysis to reach desired outcomes at affordable costs.”
For more information on the Truven Health ActionOI Practice Insights, visit http://truvenhealth.com/practiceinsights