Healthcare Financial Analytics

Healthcare costs in the US continue to grow at a high rate while reimbursements from Payors to Providers continue to be reduced. Providers and Provider Networks are being forced to analyze what is profitable and then taking the appropriate action, whether it is re-negotiating contracts or eliminating certain services.

LPA Systems is dedicated to providing solutions to the medical community that enable healthcare professionals to better leverage the vast amounts of data being collected. LPA’s Healthcare Financial Analytics is a three-part solution targeted at providing hospital and provider CFO’s with the data to understand profitability by service line (outpatient, surgery, labs…), to enhance billing performance (revenue cycle management), and to help with budgeting and forecasting including providing what-if scenario capability.

Do you want answers to:

• Understanding profitability by doctor or by practice or by service level to make investment decisions
• Allocating costs for common services (like lab work or Operating Room charges) to service lines using those services
• Not being able to negotiate with Payor organizations for higher reimbursements or with Providers using facts (data)
• Limited IT resources to develop custom solutions

LPA’s Healthcare Financial Analytics solution provides CFO’s with a complete profitability picture with “doctor P&L” detail as well as consolidated reporting to aggregate levels of Service Line. Our solution manages cost allocations via a series of driver alternatives to arrive at a fair allocation. It also ties to the revenue cycle (billing system) ensuring accurate and consistent reporting with the G/L system, but providing the ability to analyze data down to the patient level. The solution provides:

• Profitability analysis by Service Line
• Cost allocation modeling
• Consolidated reporting
• Physician dashboards
• Details for contract negotiations including what-if scenarios from volume and service line alternatives
• Driver-based budgeting and forecasting
• Optimized for mid to large provider networks such as hospitals and large IPA’s

For more information, click here.