Life Sciences & Healthcare

The healthcare industry is currently experiencing rapid and disruptive change across all industry sectors. Healthcare providers are being forced to alter their operating models, and life sciences companies are re-examining profitability structures and time-to-market processes in order to accommodate shifting government policy and patient care models.


Healthcare Providers

Healthcare providers are feeling these changes across all functions and stakeholder groups. Financially, reimbursement rates are dropping, insurers are enforcing aggressive payment models (e.g. per-illness and not per-night,) regulatory forces (HIPAA, JCAHO, FDA) are causing administration overload and financial structures are burdened with high relative fixed cost structures. Operational challenges include staffing shortages and bottlenecks in critical areas (ER, out-patient, surgical, etc.). Patient flow through a hospital is no better than the weakest link. Moreover, public policy now requires greater transparency around quality and service. Healthcare providers can leverage business intelligence and performance management technologies to manage this disruptive change and not only financially survive but increase successful outcomes and patient results.

InsightSPI helps healthcare providers achieve these ambitious goals by delivering solutions that:

  1. Create a single source of truth across the organization with integration and aggregation of operational, financial and clinical data
  2. “Keep score” and manage performance in four key areas; Operations, Finance, Quality And Satisfaction:
    1. Operational metrics such as Avg length of patient stay per admission, max patient flow per day, admission/discharge/transfer rates, bed occupancy %, FTEs per bed, staff ratios
    2. Financial performance measures including net revenue per patient day, reimbursement collection percentages by insurer, revenue per physician FTE, cost of treatment per outpatient, cost per ICU bed/day, reimbursement rates per unit of activity and debt service coverage ratios
    3. Quality drivers including Surgical site infection rates, avg waiting times for surgeries, unplanned re-admission rates compared to external benchmarks, # ER patients waiting over 4 hours, %/# ER patients triaged in x minutes, medication errors, and # complications within 2 days of x procedures
    4. Patient satisfaction metrics and indicators including rate of patient complaints, patient satisfaction data (third party), nurse absenteeism/turnover rates, and # of trauma calls per physician.

InsightSPI data integration and performance management solutions empower healthcare providers to: 

  • Enable optimization of operations and logistics in order to mitigate potential bottlenecks and shifting capacity during peak periods 
  • Achieve increased negotiating leverage with insurers 
  • Drive decision-making down into individual operating units to unlock entrepreneurial energy 
  • Identify and exploit opportunities in specialty care delivery 
  • Mitigate collection risks Initiate pay-for-performance programs with physicians 
  • Decrease negligence and litigation (malpractice) Increase positive outcomes for patients with rigorous quality management and predictive modeling

Life Sciences

InsightSPI helps pharmaceutical and biotech companies gain comprehensive access to critical data and identify new drug candidates, track clinical trials, optimize pricing models and drive field sales effectiveness.

Our solutions help Pharmaceutical and Biotech organizations manage and improve all aspects of their business, including:

Operations - Monitor strategic procurement information for R&D and manufacturing, accelerate time to market of products and services, improve product quality, optimize production capacity, and improve distribution processes.

Clinical Trials - Monitor and analyze clinical trials, receive alerts when an active study has changed status; track trials from your competitors and act on competitive information; review current and historical data to make important decisions about drug development strategies and candidates.

Research & Development -Track scientific resources e.g. sites, conferences, papers to support R&D information flow, accurately manage the R&D pipeline, analyze potential upsides of drugs, analyze and respond to stakeholder feedback, better manage product strategy and focus.

Sales and Marketing - Analyze external data (e.g. IRI) to improve sales and marketing effectiveness, provide real-time customer analytics to sales reps during field activities, gain a deeper understanding of target markets, consumer trends and competitors, uncover sales opportunities and risks in market segments, measure and improve sales, marketing and promotional strategies. 

 

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