Evaluating Data Analytics Solutions for Healthcare Practice Operations

Healthcare practice leaders rely on integrated insights to guide strategic decision-making, enhance quality of care, improve bottom lines, and ensure long-term sustainability. We understand that choosing the right data analytics solution can be a daunting task. How should you go about determining which solution is right for your practice, and how do you ensure ROI?

In this blog post, we’ll provide practical questions and strategic considerations to facilitate your evaluation process.

Data Integration

Reliance on data from disparate systems is one of the biggest challenges practice leaders face in their quest for data insights that reliably inform strategic decision-making. Disconnected systems lead to time-consuming data procurement, resulting in outdated insights and missed opportunities. Access to real-time, integrated data insights from key operational systems arm practice leaders with a holistic view across their entire organization along with actionable insights that drive clinical, operational, and financial improvements.

Key Questions to Ask:

• Does the solution integrate multiple data sources? (i.e., billing, scheduling, EHR, operational, clinical)
• Does the solution centralize data from multiple systems into one location?
• How timely is the data? (i.e., real-time, daily, weekly, monthly)

Data Quality

While access to integrated data is key, your ability to make data-informed decisions is only as good as the quality of data you use.

Key Questions to Ask:

• How does the solution monitor the timeliness of data?
• What processes and alerts are in place to proactively detect missing or incomplete data?
• How are new data sources approved and validated?
• How are existing data sources monitored to ensure continued accuracy?

Functionality

A lengthy list of features might appear impressive, but it's imperative that they function reliably and meet the needs of your practice. Our experience has taught us that healthcare practices face unique challenges while implementing and utilizing new technology. It begs the question; how effective can a technology solution be if it wasn't designed with these specific challenges in mind?

Key Questions to Ask:

• Was the solution built by healthcare experts with healthcare users in mind?
• Is the solution easy to access and user-friendly to encourage adoption across my team?
• Will the solution save or free up time for my administrative team?
• Will the solution complement my existing team and technology stack? Is the solution flexible to meet my practice’s unique needs?
• Does the solution support my practice’s unique problems and initiatives?
• Has the solution been proven to help achieve measurable gains including improved quality, optimized revenue, workflow efficiencies, and reduced expenses?

Flexibility

While choosing a healthcare-specific solution is crucial, there is no one-size-fits-all approach to data analytics. It’s essential to choose a solution that provides the flexibility to meet and compliment your team’s capabilities and needs.

Key Questions to Ask:

• Does the vendor offer multiple pricing models to meet my budget?
• Do I have the ability to ‘slice and dice’ my data to gain a better understanding of specific insights?
• Does the solution offer automated delivery of key reports?
• Does the solution generate dynamic (vs static) reports and functionality?
• Does the solution allow my team to quickly pull ad-hoc data on the fly?
• Does the solution support tracking, measuring, and reporting for my practice KPIs?

Security

The sensitive nature of patient data makes security in healthcare a critical issue. Choosing a solution that prioritizes data security is critical.

Key Questions to Ask:

• Does the solution meet or exceed industry security and compliance standards including SOC, HIPAA, etc.?
• What kind of security protocols does the vendor follow?
• Is the solution hosted in the Cloud?
• If data centers are used, where are they?
• What kind of data backup plan and processes are in place?

Return on Investment (ROI)

All investments, whether human, equipment, technology, etc. should yield some form of organizational ROI, ideally many times over!

Key Questions to Ask:

• Has the solution been proven to help achieve measurable gains including improved quality, optimized revenue, workflow efficiencies, and reduced expenses?

Customer Validation

While there is a wealth of innovation in the analytics space, it can be risky to engage with unproven solutions (i.e., time/financial investment, data security, etc.). Taking time to explore other customers’ experiences can go a long way towards fostering trust and understanding value.

Key Questions to Ask:

• Is the vendor quick to provide case studies and customer testimonials?
• What referenceable organizations are using the solution? Is the vendor willing to connect me with customers for validation?
• What is the average ROI customers realize with the solution?

In-House vs Outsource

If you are currently managing analytics in-house or considering building your own solution, it’s important to gather a realistic understanding of the benefits along with potential pitfalls and limitations with an in-house approach.

Key Questions to Ask:

• Do I have the resources for custom software development in-house?
• Do I have the right team/expertise to do the job?
• What is the total long-term cost to develop, maintain, and support a solution in-house – including payroll, onboarding & training, cost of maintaining technology, etc.?

As you search for the data analytics solution that is right for your practice, here are a few other tips:

• Talk to your peers. Connect with other practice leaders to learn more about how they are using data analytics, what solutions they have used successfully (or not), and what they have learned from their experience. This insight can help you not only choose a solution but also avoid potential challenges down the road.

• Look to industry leaders. Tap into trusted industry associations and forums for vendor recommendations and customer experience stories.

It may feel overwhelming to begin the evaluation process, but asking the right questions helps ensure a successful partnership with the right vendor. Quinsite aims to establish a trusted partnership that delivers ongoing value and customer success! Connect with our team today to find out more about Quinsite’s Comprehensive Healthcare Analytics Platform™!

Download our eBook to see examples of how other practice leaders are using data analytics technology to transform their practice.