Applying Business Intelligence and Analytics to Clinical Costing Data

Most healthcare organizations would like to provide actionable information to the managers of their various service lines. Bringing administrative, clinical, and financial data together is critical to operating the service lines efficiently. It also presents a strategic advantage, as the applications of funding are more closely monitored, and regulatory reporting requirements increase. With a clearer picture of their financial and clinical performance together, organizations are better prepared to put efficient strategies in place to meet their goals and demonstrate value. However, that requires thorough planning and forward-thinking leadership. This chapter discusses approaches to how organizations can empower their stakeholders by providing them with integrated clinical and costing data. It addresses how business intelligence supports the management and reporting of clinical costing data, the utilization of data visualization and advanced analytics, the importance of data governance, and the role of a BI strategy, illustrated throughout with a case study.