IBM Healthcare Industry recently introduced a new software to help health care providers and payers improve patient care and reduce costs. The new IBM Healthcare Industry software offering uses content analytics similar to what is found in IBM’s Watson technology.
The Healthcare organizations worldwide trust IBM Cognos software to help them drive operational efficiencies and reduce costs, improve the quality of care they deliver and support the innovative clinical research.
The healthcare industry pressures and technology maturity are starting to converge, and as they do organizations that are equipped to capture data, integrate and analyze it from multiple systems will be able to generate greater insights that will drive a shift from the volume-based to value-driven healthcare that improves consumer engagement and care delivery.
Healthcare organizations use IBM Cognos BI and performance management tools to:
- Improve operational process efficiency and to drive the cost reduction through enterprise planning, forecasting, and budgeting; service line analysis, and revenue cycle optimization
- Provide actionable insight to improve efficiency and reduce cost
- Improve quality, safety, risk, and outcomes through monitoring of the key performance indicators (KPI) aligned to operational objectives and metrics
- Promote market competitiveness through the referral analysis, transparency reporting and patient/consumer/member satisfaction monitoring
- Leverage their investments in the legacy financial and clinical transactional systems
IBM Healthcare Industry Capabilities
1. Reduce Costs
- Identify, implement and monitor the operational process efficiencies to reduce operating costs
- Leverage investments in the legacy financial and clinical systems into a consistent information infrastructure
- Reduce reporting costs through customer self-service
- Analyze operations and plan for greater efficiency
- Optimize referral and scheduling processes, resource management and the call center experience
2. Improve Care Quality
- Collaborate to optimize and align the clinical processes to improve quality, patient safety and clinical outcomes
- Align the organizational strategic goals to operational objectives and metrics
- Monitor the Key Performance Indicators (KPI’s)
- IBM Healthcare support executive level reporting and drill down into key quality metrics and initiatives
- Provide management insight and actionable information into the clinical performance and core measures
- Apply analytics for modeling scenarios, disease profiling, identifying the predictive events and supporting prevention initiatives
- IBM Healthcare support transparency and quality reporting for clinicians and consumers
3. Promote Transparency and Access
- Provide purchasers, consumers and regulators with cost and quality information to drive accountability, collaboration and the equitable access to care.
- Enable pay-for-performance reporting, standards compliance and monitoring
- Communicate a single view of business performance.
- Track key metrics against goals. Make better decisions with timely, accurate data
- Investigate and act on problems and the opportunities quickly and with confidence
4. Drive Profitable Growth
- Support the organizational mission by ensuring the market competitiveness and by leveraging capacity and capabilities to expand into new markets, partnerships, products and services
- Analyze and optimize the service lines and key departmental processes
- Accelerate budgeting cycles through automated consolidation and reporting
- Analyze the history, forecast results, set goals and build execution plans
- Optimize revenue cycle management
- Track departmental and organizational performance against the goals in real time
- Monitor, analyze and report on referrals, the transparency and patient satisfaction to boost competitiveness
IBM Content and Predictive Analytics for Healthcare enables doctors and healthcare professionals to go far beyond traditional search and analysis of the unstructured data.
The IBM solution transforms the raw information into the healthcare insight quickly by revealing the trends, patterns, deviations and predicting the probability of outcomes, allowing organizations to derive insight in minutes versus weeks or months, or not at all.
As a result, IBM Healthcare Industry professionals can find more effective ways to care for high-risk patients, provide safer patient care, and develop new models for reimbursement for quality care.
The IBM Healthcare Industry software is also compatible with IBM’s Health Integration Framework, which means healthcare organizations can realize more value from existing information system investments such as data warehouse, business intelligence (BI), master data management and advanced case management.
Locus IT has worked with many healthcare industries and has provided unique solutions for their requirements using IBM Cognos. We also provide IBM Cognos training and IBM Cognos support. For more information on how IBM Cognos can help your industry please contact us.