Healthcare Data Analytics

The Problem

The client was looking to grow their practice. To do this, the client wanted to find ways to improve cash flow and increase revenue.

DTS Approach

  • Held project kick-off meeting to review project and DTS approach
  • Gathered, cleaned and organized data for review
  • Worked with client business translator to Analyze revenue cycle
    • Created data model to allow for fast review cycles
    • Developed visualizations to provide easy to understand result
  • Collected practice claims information for revenue analysis
    • Reviewed top charged CPT codes by provider
    • Reviewed top paying CPT codes by provider
  • Provided recommendations and next steps

Client Benefits

  • Client had a better understanding of lost revenue (~60% of revenue had been discounted due to adjustments or bad debt) and where to focus efforts.
  • Prolonged collection cycle identified and compared to industry norm of 47 days (34% of revenue was > 60 days and 26% > 120 days in accounts receivables.
  • Issue with billing cycle lag time identified (10% of charges were beyond industry norm of 7 days),