Data analytics is transforming revenue cycles [Video]

Jan 18, 2016 | Hospital Finance Efficiency

As more health care providers try to provide quality care within tighter budgets, they are beginning to understand just how powerful big data analytics is for the industry.

As an example, Cardiac Surgery Associates in Illinois recently integrated its revenue cycle analytics to gather data streams into one manageable thread, which has helped the health care provider achieve both deeper insights and quicker returns on investment. By standardizing its performance reports, it was able to send data much faster and have reported a 300 percent increase in profit margin.

Healthcare systems can use big data analytics in their revenue cycle management to boost profits while cutting down on wasted overhead. And by helping providers learn as much about their patients as possible, big data is also improving quality of care.

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