Page 26 - HME Business, October 2018

Empowering Care with Enhanced Analytics
Big data and enhanced analytics are words to live by in today’s HME environment, where the right tools can bring you the right outcomes – for your business and your patients. We talked to Brightree’s Vice President of Operations & Analytics for Revenue Cycle Management Sunil Krishnan, who brings two decades of experience in data analytics and managing global operations in the technology field. Hear what he has to say about why robust business data means you never have to go it alone again.
Sunil Krishnan
defined, the variables that affect those KPIs and, in turn, what you need to do to improve on those KPIs.
Q: How far off are predictive analytics for the post- acute industry, and why is this so crucial?
Sunil: Brightree is currently using historical data to predict future outcomes. The beta testing of the Brightree Analytics platform has made great strides in analyzing client-specific resupply data as well as revenue cycle management data
to provide insights to providers, so they can make the necessary business-critical decisions. We’re bringing in data not only from the Brightree platform but also from our third-party partners to provide a more holistic view of data and insights. This Brightree Analytics platform will launch in October at Medtrade, with the release of some very exciting offerings. Continue to watch this space.
Proof Positive
Analytics that HME providers can rely on.
The Brightree Analytics platform is the most comprehensive of its kind, offering HME providers insights and actionable information for real-world outcomes. At Epoch Sleep
and Neuro Diagnostic Services, the results using analytics reporting for membership campaigns have exceeded their expectations and performed well above industry averages, including 37% open rates, 13% click-through rates and 1% unsubscribe rates.
Vice President of Operations & Analytics for Revenue Cycle Management
Q: What’s the one thing HME providers can’t do without?
Sunil: If you’re not already using data to better manage your business, you’re setting yourself up for some big challenges
in today’s marketplace. HME providers must be more efficient and nimble than ever before amid today’s reimbursement
cuts, and data is one critical piece of the puzzle that lets you compete effectively. In some cases, analytics might even identify problems you didn’t even know you had. For example, if there’s a sizeable amount of accounts receivable, the best solution may not be to add staff to follow up on the accounts receivables and work the denials. Instead, the root cause might be that the sales order confirmation team is confirming orders without the proper QA requirement or it might be issues on the CSR front. In simple terms, it doesn’t make sense to bandage your knee if you are bleeding at the elbow. Data tells you where and how to stop the bleed.
Q: How do I benchmark myself against the industry?
Sunil: Benchmarking is important but what’s even more critical is understanding the metrics you are benchmarking against and the validity of those benchmark values. Benchmarks vary based on product, payer and geography mix, so these variables must be accounted for in capturing benchmark values. In the event these are not available, you should be able to monitor and trend your KPIs and then set goals to improve on those KPIs. These then become what I like to refer to as educated benchmarks, which can create even more benefits. You now know the KPIs that you have
“I give Brightree’s analytics platform an A+. It’s easy to navigate
a n d u n d e r s t a n d , a n d t h e e n t i r e t e a m w a s o v e r t h e m o o n ”w i t h
the data it provided to drive our numbers up for resupply.
— Susan Prenda, CRT, RPSGT, Chief Operations Officer, Epoch Sleep and Neuro Diagnostic Services