Case Cost 360™
Clinical Operations Decision Support
The Bottom Line Opportunity
The Knowledge Gap
Millions of dollars on the line … and the ability to realize those savings with
an investment that pays off in under a year.
Unfortunately, there are significant knowledge gaps that get in the way of
realizing the large savings opportunity:
Improving your hospital/health system bottom line is an urgent
imperative. Cost containment is extremely challenging. Several major
forces are combining to make the challenge even greater.
•
Surgeries across the U.S. continue to climb, putting upward pressure
on costs or magnifying existing inefficiencies.
•
At the same time value-based reimbursement for those nowexpanded surgeries caps revenue growth through bundled payments,
while the push for population health management shifts financial risk
to the provider.
In this environment, the margin for error becomes narrow.
MHS addresses multi-million dollar cost containment opportunities that
are too frequently hidden from full view: the spend associated with OR,
Cath Lab and other procedures.
Not just supplies, which are substantial in and of themselves, but also all
the other resources utilized on each case. Industry estimates suggest that
every day your OR is consuming upwards of half or more of your total
supply costs. That’s a huge financial impact and meaningful dollars are on
the line.
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A total cost view of procedures is generally not available.
Accounting may not be complete or consistently applied.
Automation is still not widespread, making data capture reliant on
largely on error-prone, inconsistent manual entry. Not to
mention costly.
Surgeons generally do not see the consumption data and
therefore may be unaware of significant inefficiencies and
variances.
The Need: Procedural Cost Understanding and
Control
Savings require a sophisticated understanding of all case costs - what we
call Procedural Cost Understanding (PCU) that leads to Procedural Cost
Control (PCC). This understanding can only come from data that adheres to
four fundamental, essential requirements:
Granular
Timely
Per
procedure,
per physician
Streamlined
and efficient
Comprehensive
Consistent &
Accurate
The Solution: Case Cost 360™
Case Cost 360 from MHS Is a robust clinical operations decision support
solution. It captures comprehensive perioperative cost in real-time
through easy-to-use, point-of-use tracking of all resources by procedure,
by physician.
Case Cost 360’s data analytics generate true Procedural Cost
Understanding at a scale and precision sufficient to provide a stream of
intelligent insights. Insights that power lasting control of costs.
That gives you the evidence to drive action … not just amass data.
What Case Cost 360 Does
Case Cost 360 constructs the foundation through collection and analysis of
detailed cost variances at the individual procedure and physician level. This
information can identify millions of dollars of savings opportunity.
From the evidence, our software supports management decisions in
several strategies to drive major cost reduction and operational
improvement:
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Preference Card Optimization. Changes to individual physician
preference cards create significant reductions in waste,
expiration, OR nurse and tech time, and surgery delays.
Product Standardization. The next level to boost savings takes
advantage of data-driven benchmarking to standardize products
and processes across your physician population. That further
drives out costly practice variation in at least three categories:
• Preference card items
• Implants
• Physician preference items not on cards
Case Level P&L. The ultimate objective is to help you construct a
true picture of case profitability – a very powerful tool to develop
improvement strategies.
How Case Cost 360 Works
The Architecture of Procedural Cost
Understanding
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MHS’s well-respected, modular suite of @PAR software solutions
inserts automation in the form of easy-to-use mobile devices and
software at every stage of the OR supply chain workflow, tracking
information from loading dock to store room to point of use.
The rich stream of data feeds our Analytics Engine which
leverages industry standard ontologies such as ICD-10 and
UNSPSC to enable precise analysis and robust data sharing and
reporting.
The output of our engine is delivered in the form of role-based
reporting and dashboards that drive action and insight.
All with bi-directional integration with EHRs, ORIS, and other systems.
www.mhsinc.com
203-307-2175
Benefits