How U.S. Hospitals are Using COVID-19 Dashboards to Track Financial Trends
May 1, 2020
How COVID-19 Has Changed Everything
COVID-19 has changed everything for healthcare providers across the country. As hospitals continue to face massive losses on COVID-19 cases, many have begun the process of accounting for those costs to help prepare for additional stimulus and support from both state and local governments. Meanwhile, hospitals are still at the front lines of this crisis and will continue to make decisions that will impact their organization’s recovery down the line.
As leaders across the country are still mobilizing their organizations to adapt to COVID-19, “business as usual” is going to shift in many ways. For providers to move successfully into recovery, it is critical now more than ever for them to be able to access information and use it to make critical decisions.
COVID-19 Starter Set Dashboards
At Strata Decision Technology, we work with a network of the country’s top healthcare providers to help them transform their data into financial information they can use to take action. One of the benefits of this network is that Strata customers have access to a global repository of report & dashboard templates, called Starter Sets, which include 20+ dashboard templates.
As COVID-19 continues to complicate these efforts, we have provided a number of COVID-19 resources to help our customers advance their financial recovery , including three COVID-19 reporting dashboards..
These Starter Set dashboards allow customers to quickly, easily leverage pre-made data visualizations and reports specific to COVID-19.
The COVID-19 reporting templates include:
- COVID-19 Volume Trends Dashboard
- COVID-19 Net Revenue Trends Dashboard
- COVID-19 Net Income Trends
The Starter Set COVID-19 dashboards allow financial leaders to access data trends surrounding changes to their volume, net revenue, and net income. Using the Starter Set dashboards, leaders can quickly access data and drive collaboration with entity-level operational leadership.
As a result, organization leaders can analyze key performance trends, identify areas for improvement, and engage service-line leaders to take action. Using the Starter Set dashboards, our customers have acted quickly to create mitigation plans and account for actions within their planning and forecasting tools.
While these four dashboards are specific to the challenges associated with COVID-19, they are part of a larger Starter Set repository of global reports and templates our customers leverage to configure their data within seconds. Hospital leaders can use the intuitive interface to search and filter from a global list of templates. They can also use built-in analysis tools to ensure that their configuration meets system requirements for any template.
This collection of reporting templates and dashboards also includes more than twenty designed in collaboration with Strata customers to help other organizations configure data using best practices from peers.
Modeled after dashboards and reports created by top healthcare organizations for their most successful service-lines and areas, these Starter Sets include relevant use cases like payer management, physician group performance, value-based care (or episodes of care), and even significant purchase decisions like robotic surgery systems.
To find out how your organization can leverage these COVID-19 Starter Set dashboards, please contact your Experience Manager or [email protected] to learn more.