OperationsAdvisor® now analyzes labor efficiency across all care settings
For Immediate Release
Healthcare organizations can now analyze labor efficiency across multiple care settings using enhanced analytics from Premier, Inc. (NASDAQ: PINC).
New capabilities in OperationsAdvisor, Premier’s labor management solution, are designed to help health system leadership expand the analysis of labor performance across the continuum of care, including hospitals, physician practices and home health. Previously the offering was focused on operational performance in the acute care setting.
OperationsAdvisor is the only software as a service (SaaS) app in healthcare that integrates labor benchmarking and productivity analytics. The app accesses the industry’s largest comparative labor and supply cost database, aggregating corporate-, facility- and department-level data from more than 850 providers in the U.S.
“As providers move toward value-based care, they are pursuing accountable care models that focus on efficiency across all aspects of care,” said Keith J. Figlioli, senior vice president of healthcare informatics, Premier. “Since labor makes up the largest portion of U.S. hospital costs, the ability to roll up and analyze the productivity of every position and the efficiency of every process throughout an entire health system is essential to ensure resources are being fully utilized.”
Available on Premier’s integrated technology platform PremierConnect®, OperationsAdvisor correlates practices with outcomes, helping new care delivery models reduce costs and improve the quality of patient care. It analyzes labor data across health systems and integrated delivery networks, comparing the data with other like organizations to provide:
Real-time efficiency and labor expense analyses in areas such as labor standards creation, appropriate skill mix deployment and managing to patient volumes; and
Automatic productivity reporting to key stakeholders on a daily and pay period basis with monthly, quarterly and annual benchmarking reports.
In addition, Premier subject matter experts assist health systems by assessing labor management infrastructure, developing action plans based on trusted data and supporting long-term labor efficiency.
More than half of the nation’s hospitals have access to the PremierConnect, which combines patient data on 1 in 4 U.S. hospital discharges, evidence-based best practices from 2.5 million daily clinical transactions, and $40 billion in annual provider purchases. The platform is powered by IBM software and hardware, including the industry-leading healthcare provider data model, jointly developed with Premier.