Baker Tilly healthcare practice benchmarking resource designed to help healthcare organizations better manage the accelerating evolution to value-based care
CHICAGO (April 5, 2016) -- Baker Tilly Virchow Krause, LLP (Baker Tilly) healthcare consulting specialists have developed The New Healthcare Paradigm – Optimizing Performance through Data Analytics and Benchmarking, a resource to provide hospitals and healthcare systems with data and insights to help meet the challenges of the changing world of healthcare.
The report—divided by and comparing U.S. regions—analyzes data points and focuses on three critical areas that will drive sustainability and profitability of healthcare organizations in the future: population health, cost management and patient outcomes and satisfaction. Data was aggregated from various sources and captures information about hospitals, health systems and physicians.
“Analyzing, benchmarking and understanding data is critical in the new, value-based world of healthcare,” David Gregory, principal and leader of Baker Tilly’s healthcare consulting practice said. “We evaluate hospital and physician level data for many of our clients that are developing and enhancing their strategies to move to a value-based care model. For example, medical staff performance is an integral component of hospital cost, quality management and population health readiness. Within the report, we provide physician cost per case information for joint replacements. The data revealed a significant variation in cost per case that should be a call-to-action for hospital administrators. All hospitals should be reviewing provider-level cost data and striving for less variation among physicians as well as key post-acute providers like skilled nursing facilities and home care partners.”
Valuable insights and information in the reports include but are not limited to:
- Discharge destination analysis and 30-day readmission rates for patients with behavioral health and joint replacement diagnoses, which provides hospitals with a better understanding of how informed organizations can used data to improve outcomes and lower overall costs, and
- Frequency of patient visits to the emergency room, which reveals opportunities for improvement in both the availability of care and the need for patient education.
“This report provides hospitals with insights into data points that they should be analyzing on an ongoing basis as they seek to identify opportunities for improved organizational, patient and population health management. We are excited to provide hospitals with this additional resource they can use to supplement their existing benchmarking protocols,” Mark Ross, national leader of the firm’s healthcare practice adds.
The benchmarking reports are complimentary and available for download on Baker Tilly’s healthcare practice webpage: bakertilly.com/insights/2016-healthcare-benchmarking-report.
Baker Tilly’s healthcare practice held a webinar to discuss the data and information included in the report on March 30. The webinar recording and presentation slides are also available at bakertilly.com/insights/benchmarking-key-data-to-help-manage-your-hospital-more-effectively.
Baker Tilly’s healthcare practice is comprised of consulting, tax, and audit and advisory professionals that work with hundreds of hospitals, health systems and health plans developing new strategies for growth. Our team has a vast array of financial, operational and strategic expertise covering the full spectrum of advisory services, including value-based service management, risk readiness, managed-care contracting and revenue cycle management. Connect with a Baker Tilly healthcare specialist at bakertilly.com/healthcare.
About Baker Tilly Virchow Krause, LLP (bakertilly.com)
Baker Tilly Virchow Krause, LLP (Baker Tilly) is a nationally recognized, full-service accounting and advisory firm whose specialized professionals connect with clients and their businesses through refreshing candor and clear industry insight. With approximately 2,700 employees across the United States, Baker Tilly is ranked as one of the 15 largest accounting and advisory firms in the country. Headquartered in Chicago, Baker Tilly is an independent member of Baker Tilly International, a worldwide network of independent accounting and business advisory firms in 141 countries, with 28,000 professionals. The combined worldwide revenue of independent member firms is $3.8 billion.