Health Catalyst issued the following announcement on Dec. 6.
Nicklaus Children’s Health System, one of the most-awarded pediatric healthcare organizations in the nation, has selected Health Catalyst, Inc., a leader in next-generation data, analytics, and decision support, to improve its revenue cycle management and optimize operations. Nicklaus Children’s will initially leverage Health Catalyst’s powerful, cloud-based Data Operating System (DOS™) to facilitate appropriate payment for services, and to better understand the costs of healthcare.
Nicklaus Children’s Health System includes the flagship 309-bed nonprofit Nicklaus Children’s Hospital, South Florida’s only licensed specialty hospital exclusively for children, as well as a network of outpatient centers situated in Miami-Dade, Broward and Palm Beach counties, a physician group and an ambulatory surgery center. Nicklaus Children’s Hospital has won numerous awards for clinical and IT excellence, including recently being named the 2018 Most Wired Hospital by CHIME, and has been designated as a Magnet facility for the high quality of its nursing care. In addition, six of the hospital’s medical units have received Beacon Awards from the American Association of Critical-Care Nurses, a distinction no other children’s hospital in the nation currently holds.
“We look forward to leveraging analytics to impact many areas at Nicklaus Children’s,” said Ed Martinez, the health system’s CIO. “We chose Health Catalyst as our partner because of its track record of outcomes improvement and its ability to match up technology with improvement services. Health Catalyst brings capabilities that will enable us to identify new opportunities to better serve our patients, physicians, employees, and community.”
Analyzing revenues and costs
Like most healthcare organizations, Nicklaus Children’s has faced increasing margin pressures, and its leaders recognize the need to enhance management of revenues and costs. To do that, they required a robust solution that would trend and benchmark financial data so they could identify areas to improve, starting with their revenue cycle. The health system selected Health Catalyst’s DOS to contribute to that goal.
Working with Nicklaus Children’s existing IT systems, DOS will serve as the hospital’s digital analytics backbone. The platform can integrate critical data from over 200 of the most popular data sources, including third-party electronic medical records (EMRs), data warehouses, claims processing systems, financial systems, operational systems and patient experience survey data. Moreover, DOS includes a large suite of products and analytic accelerators that are optimized with machine learning and natural language processing. These flexible solutions will help to meet Nicklaus Children’s needs for revenue cycle management and operational performance improvement initiatives. They will also enable the health system to monitor payer contracts to make sure that payers aren’t under-reimbursing or incorrectly denying claims.
“We’re excited to partner with Nicklaus Children’s Health System to harness the power of data to identify opportunities for strengthening its financial base while supporting patient outcomes,” said Dan Burton, CEO of Health Catalyst. “The DOS platform, along with Health Catalyst’s proven outcomes improvement services, will help Nicklaus Children’s get a firm grip on its financial management and ensure that their patients continue to receive first-rate care.”
Under the agreement, Nicklaus Children’s will have access to Health Catalyst’s library of technology solutions built on the DOS platform, as well as content culled from the company’s outcomes-improvement work with health systems across the country. Health Catalyst applications address some of the most pressing concerns of healthcare organizations, including managing population health; gaining a comprehensive view of the true cost of care; empowering executive decision support with a dashboard view of enterprise-wide performance; benchmarking and prioritizing improvement opportunities; and monitoring, detecting, predicting and preventing patient safety concerns before harm can occur.
Original source can be found here.
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