Modernizing Case Profitability Analysis
90210 Surgery Medical Center now has real-time insights into profitability and a reliable warning system to avoid unprofitability days.
With HST’s case profit estimations, this surgery center has:
- Saved 100s of hours of time
- Avoided unprofitable days & cases
- Built trust between physicians, payers, and staff
# of Centers: 4
# of ORs: 12
Featured Solutions: Case Profit Estimations
Solutions in Use: Surgery Center Management, Scheduling & Care Communication
Specialties: Multi-specialty
State(s): CA
Customer type: Surgery Center
The Challenge
90210 Surgery Medical Center was facing an operational challenge not unlike most of its peers. With 13,000 surgeries annually across a spectrum of specialties, the organization struggled with profitability analysis due to the inherent complexities of healthcare operations and disjointed data. The manual and cumbersome process of analyzing case profitability, which relied heavily on preference cards and extensive staff input for tracking case-related expenses, was not only time-intensive but also often outdated by the time it was completed. The intricacies of managing such a vast operation, coupled with the need for precise and efficient financial analysis, presented a significant hurdle.
The Solution
Enter HST’s case profit estimations, a solution that Andy Ball and his team had been exploring to alleviate these operational headaches. Ball’s engagement with the HST team, including collaborative discussions with Gavin Fabian, HST’s Chief Innovation Officer, led to the adoption of HST’s case profit estimations. This tool promised to revolutionize the way the center managed its financial analysis, offering real-time insights into profitability, efficiency in handling case costs, and a robust reporting mechanism that previously required hundreds of manual hours.
Everything is dynamic. Payers like to issue new policies which they’ll send that in the mail, and you don’t see it until six months later. All of a sudden, if this code is combined with this code, the procedure is not reimbursable. How would you ever catch that? It’s a nice early warning system, and it’s just been transformational.
– Andy Ball, Chief Executive
The Results
The impact of HST’s case profit estimations on Cedar Sinai’s operations was nothing short of transformational. The tool not only streamlined the process of profitability analysis but also provided a comprehensive, real-time overview of financial metrics that were critical for decision-making. The ability to quickly assess the financial viability of surgeries, understand the implications of various cost factors, and even anticipate the profitability of individual physicians’ case volumes was like nothing they ever had the ability to do before. This newfound efficiency enabled Ball and his team to focus more on patient care and less on the minutiae of financial analysis, marking a significant shift in their operational approach.
For staff and stakeholders, the adoption of HST’s case profit estimations meant a move towards a more data-driven, efficient, and transparent way of managing the surgery centers. The board and owners saw improved reporting and decision-making capabilities, while staff appreciated the streamlined processes and the ability to focus on high-priority tasks.
We had a situation with an implant that we thought was reimbursable, but it turns out it was not. We were manually trying to dig in and see why we were losing money but couldn’t pinpoint it. When we saw HST Profit Forecast with our own data, we were able to click into that physician’s revenue and identify the issue immediately. If we had HST Profit Forecast at that time, we would have identified that problem faster, and it would have saved us $305,000.
– Andy Ball, Chief Executive