stratasphere^®

Comparative Analytics from the StrataSphere Network

As rising costs continue to outpace revenue, healthcare organizations need high impact methods for financial recovery. More and more, we are helping clients directly identify insights with in-depth analysis at the point where financial and clinical data intersect. We are now bringing these new opportunities to our entire network.

Today’s Barriers

Internal comparative data provides a limited view into unnecessary variation

Insufficient time dedicated to thorough costing analysis because data benchmarking maintenance requires significant manual effort and time

Distrust in costing data & analytics weakens attempts to take action on utilization

Speed-to-Value

Quantify impact of clinical & overhead cost inefficiencies

Identify and focus on service-line performance outliers, relative to external peers

Validate cost results using normalized peer data

Direct performance improvement resources to high value activities by repurposing manual effort from benchmarking data maintenance

What’s Included

Quarterly personalized report with tailored peer data set & guided leadership review of performance insights
Comparative analytics with extensive network of 70+ health systems
Automatically normalized peer cost results, with peer comparisons at 25th, 50th, 75th percentiles
Collaboration on ad hoc analysis with experiences process and cost improvement consultants and senior analysts

Cost excess

Proactively identify costing processes hindering results & insights from your DS data

Revenue capture

Gain insights into missing or decreased units of service compared to peers to potentially identify charge capture opportunities worthy of investigation

Volume composition

Understand volume composition against your peers, for insight into market composition

Utilization variation

Study variation in clinician performance against your peers to understand average performance and gain visibility into variation of practice against peers

Cost performance

Use machine learning algorithms developed by Strata Data Science to automatically normalize data set for insights into cost types, components, etc

Tailored Insights

We offer supporting services with our tailored reporting to transform your data into actionable insights.

One week before publication of your report, you will meet with our consultants to share your preferred benchmarked cohorts and additional, requested views determined by service lines or DRGs of interest

Our consultants will guide you through the report, illuminating any high-level findings and answering your questions along the way.

Semi-annually, you will collaborate with our consultants for ad hoc analytics, deep dives and actionable opportunity identification