Healthcare reports are a data-driven means of benchmarking the performance of specific processes or functions within a healthcare institution, with the primary aim of increasing efficiency, reducing errors, and optimizing metrics.
By utilizing interactive digital dashboards, it’s possible to leverage data to transform metrics into actionable insights to spot weaknesses, identify strengths, and predict events before they occur. This perfect storm of visual information ultimately makes institutions safer, more productive, and more intelligent.
In summary, healthcare analytics is critical to the ongoing success of any organization operating within this broad and invaluable sector.
To drive the message home: by leveraging a mix of advanced healthcare KPIs, insights, and online reporting tools, it's possible to not only obtain accurate facts that will benefit your organization, but this level of data can also lead to the discovery of fresh insights that can eliminate inefficiencies and achieve better health outcomes.
As a branch of business intelligence in the healthcare industry, reporting collects from the following five primary areas within the sector:
According to the World Health Organization, there is a one in 300 chance of a person being harmed due to a care-related administrative error. Comparatively, there’s a one in a million chance of being harmed in an airplane incident. This discovery alone provides a direct answer to the question, ‘why is using a report important in healthcare?’ Without it, it’s unlikely healthcare institutions will ever reduce these figures to an acceptable level on a sustainable basis.
By tracking key healthcare data reporting insights and setting the right key performance indicators, your organization stands to benefit a great deal. Here are some notable examples and benefits of using business intelligence in healthcare:
The first benefit, and arguably one of the most important ones, is improved facility management and decision-making process. Armed with powerful insights coming from not only patient-related areas but also operational and financial areas, hospital managers can make informed decisions to ensure better clinical performance and correspondingly better patient outcomes.
With the help of a modern report and the right BI tools, managers can reduce costs while still ensuring a high level of service, predict demand for services and supplies, and prepare in case any unforeseen situations come up. The results are improved efficiency across the board.
One of the most striking elements is the ability to harness the power of historical and current data to spot potentially fatal medical issues before they occur. This branch of predictive analytics in the care sector is pivotal to enhancing the quality of care and improving mortality rates
To highlight the preventative purpose of a report in healthcare, 60% of healthcare leaders confirm their organization has adopted predictive analytics in recent times, and more will follow in the coming years. This is a testament to the essential role of predictive analytics in the sector.
Elaborating on our previous point, the predictive analytics and insights found in reports related to health can also help in placing surveillance on potentially large scale disease outbreaks, again by using a mix of past and present metrics or insights to ensure that the correct course of action or preventative measures are taken to control or contain the situation.
As mentioned, healthcare reports can also make operations far more economically efficient. By collecting and analyzing operational metrics associated with your organization's daily expenditure in all primary areas from catering right through to patient medicine, data analysts can help health institutions streamline their budgeting processes and make alterations or substitutions based on safety, ethics, and trust.
Earlier, we touched on a severe lack of accessible or timely data, as well as an alarming rate of administrative errors. Hospital analytics give organizations the power to amalgamate clinical, financial, and operational data that determines the efficiency of their various processes, as well as the state of their patients, and the productivity of their programs. By gaining access to these insights, an institution can gauge which processes aren't generating desired outcomes, significantly improve wellness programs, and ultimately, reduce readmissions numbers.
Health specialist Kaiser Permanente, for example, leveraged healthcare reporting to assess, survey, and analyze patients that were at the biggest risk of a potential suicide attempt, discovering that the top 1% of individuals flagged were 200 times more likely to take their own life. This information proved invaluable in offering tailored therapy while taking all-important measures to reduce suicide rates.
Healthcare report data can assist hospitals in offering information on an individual patient basis. By doing so, an institution can give individuals tailored advice on how they can maintain a healthy lifestyle based on their medical data and biometric vitals. Not only is this priceless to providing superior levels of aftercare, but again, it's also a giant leap in helping to reduce readmission rates.
Dynamic, real-time data can also provide alerts if someone is under your care and at risk of a potentially harmful or fatal event. Although this falls under the remit of predictive analytics, it’s worth mentioning here, as managing a person's health with consistency is essential to their wellbeing. Once they leave your institution, you can use this wealth of data-driven insight to provide a level of aftercare that offers the very best personal, physical, and mental wellbeing.
A report can shed unbiased light on how your practitioners and staff are performing – an essential point on how management reporting can help improve the operation of the hospital.
With a healthcare industry report, it’s possible to accurately evaluate the performance, efficiency, and effectiveness of staff at the point of delivery. With sustainable performance evaluations, in addition to reporting metrics related to patient wellness and satisfaction, you can leverage a performance dashboard and data analytics to provide ongoing feedback on your practitioners, offering training and support where necessary.
Ultimately, this will improve satisfaction levels, reduce unwanted errors, and could even save lives.
Expanding on our previous point, in addition to evaluating practitioner performance with transparency, online data analysis can also help to identify any internal bottlenecks or inefficiencies that are proving costly to the institution while hindering patient care.
A valued and well-organized workforce is more than likely to perform consistently well while reaching or even exceeding its targets
By setting clear-cut KPI benchmarks and monitoring trends, you will be able to see where you might need to redistribute or restructure departments and optimize your complete HR analytics strategy. This, in turn, will enhance the success of your institution.
Last but not least, another great benefit is enhanced communication and operational efficiency. More than any other organization, a care facility employs many people who cover different functions. From attendings, residents, interns, nurses, physical therapists, to rapid response teams and more, all of them need to stay connected to ensure the ultimate goal is achieved: excellent patient care.
A modern healthcare report can help keep everyone on the same page regarding the performance of every relevant area. For instance, if a case needs the involvement of several specialists, all of them can access the data from one single location and get the information they need within seconds. This will not only improve internal communication but will also ensure operational efficiency in time.
Just like any other industry, health facilities involve several departments and areas. For this reason, there is a need to generate various report types for each of these areas. Here we list some of the common types.