Rapid High ROI Solutions

for the New Era of Value Based Care and Performance

HealthViZion Rapid High ROI Solutions

SonarViZion Analytics offers you the benefits of advanced cognitive analytics and cognitive correlation impact delivering “Rapid High ROI Solutions” for the new era of Value Based Care and Performance.
healthvizion rapid roi solutions

1. Excess and Avoidable Labor Costs 

HealthViZion “Excess Labor and Avoidable Labor Costs” solution analyzes inefficiencies throughout the Employee Management and Employee Replacement Lifecycle. Inefficiencies in these areas unnecessarily increase labor costs by .7% to 4.8%. Reduction in these inefficiencies through simple workflows, automations and process improvements reduce next year labor costs by 20%, with results easily beginning in the 1st 90 days -– without any staff reductions.

2. Increase in Annual Net Adjusted Revenue 

Lost workforce productivity and turnover in primary Revenue Cycle Management positions results in unnecessary lost revenue collection ranging from .3% to 3.9%. Reduction in lost workforce productivity and turnover of billing coders, billing auditors and revenue collection specialists reduces the initial EDI rejection rates as well as losses in the Revenue Collection team. Through practiced employee loss, predicted reasons for leaving and adjustments of the Full Time Equivalency composition of the Revenue Cycle Management positions can reduce Lost Net Adjusted Revenue by 10% - 30%. Depending on the size of the Healthcare system, savings range from $1 million to $3 million in smaller systems to as much as $10 million to $75 million annually in large systems.

3. Excess and Recoverable Workforce Productivity

HealthViZionTM “Excess Labor and Recoverable Workforce Productivity” solution analyzes inefficiencies throughout the Employee Management, Employee Development and Employee Replacement Lifecycle. Inefficiencies in these areas unnecessarily increase workforce usage by 1.6% - 3.8%. Reduction in these inefficiencies through simple workflows, automations and process improvements reduces next year Excess Workforce Productivity by 20% to 35%, with results easily beginning in the 1st 90 days - without any increase in labor costs adding hundreds of man years in most cases.

4. Early Warning Predictive Talent Loss Prevention Alerts

One of the major concerns keeping healthcare executives up at night is the fear of losing the core, critical position employees of a major department. In large hospitals, and especially in multi-location hospital systems, CNOs and COOs simply cannot account for rapid turnover before a department or critical position is decimated. Often, top nurses, technicians and IT professionals are promoted because the employees are so good at their craft. Unfortunately, being exceptional at a position does not equate to good leadership and management skills.
 
SonarViZion utilizes predictive modeling, correlation and risk analysis to immediately detect when turnover in a critical position is just beginning, then analyze the trends, predicts the short term “loss” impact, immediately sends alerts to department leaders of this potential crisis. Additionally, SonarViZion defines the primary reasons for predicted loss so that leaders can proactively mitigate the problems before mass losses of critical positions in key departments becomes endemic. In addition to retention of key employees, the reduction in turnover not only prevents performance loss, but also reduces hard and hidden costs of turnover replacement.

HealthViZion Rapid ROI Solutions

Healthcare system with 3 acute hospitals, 5,800 hourly employees, 16% annual turnover generating $382,000,000 in annual revenue.
&
$8.4 Million Annual Labor Cost Reduction
$3.4 Million Annual Increase in Revenue
Excess and Avoidable Labor Costs
Excess Labor Costs from inefficiencies in the employee Management Lifecycle raise employee labor cost by .7% to 4.8%.
Reduction on the inefficiencies by 20%, easily attainable in the first 90 days, results in reduced labor costs by $8,400,000 annually –without any staff reductions.
Recoverable Workforce Productivity.
These efficiencies can also be used to increase workforce productivity by 183 man-years annually and increase of 3.2% in workforce productivity – at no additional costs.
Reduction in Lost Net Adjusted Revenue.
Lost workforce productivity and turnover in the primary Revenue Cycle Management positions results in unnecessary lost revenue collection ranging from .3% to 3.9%. Reduction in turnover of billing coders and revenue collection specialists by 15% results in an additional $3,400,000 to $6,110,000 in Net Adjusted Revenue annually.

  The characteristics of  Health ViZion
"Rapid High ROI Solutions" are:

Fast bottom-line measureable results
Low cost implementation
Minimal change management

About HealthViZion Rapid High ROI Solutions

Rapid High ROI Solutions are specific solutions discovered by HealthViZion over the past 8-years which positively impact healthcare organizations with:
  • High numbers of non-exempt hourly employees
  • Critical positions, often with high numbers of employees, spread-out over multiple geographic locations or large campuses
  • High revenue collection of Net Adjusted Revenue from major payers
In this new era of healthcare with so much still in developmental reimbursement revenue models, HealthViZionTM only focused on areas where solutions would deliver results with high levels of assuredness. HealthViZion’s Research department discovered eleven areas where information was hidden and consequently the impact on revenue, costs, accidents and VBP scores were being impacted.    
 
From this group of eleven, HealthViZionTM set criteria for the development of solutions to ensure rapid success amidst the uncertainty of Value Based Care and defined criteria for these 1st four Rapid High ROI Solutions (“RH-ROI”)

Rapid High ROI Product Delivery

All HealthViZion products are Cloud-based and delivered via SaaS. All RH-ROI solutions are provided through a managed service included in the cost.
Each quarter, your company assigned expert consultant will review your results, savings, newly learned best practices and potential other processes to further optimize ROI and results.

Data Upload

Once your data is uploaded into SonarViZion, the same data is used in all other HealthViZion solutions and Collaborative.  HealthViZion provides simple, yet powerful mapping tools so that client data can be matched to the standardized healthcare system Collaborative data.