Throughout Fusion Anesthesia Solutions’ almost 50-year history, we’ve had hundreds of conversations with anesthesia providers and hospital revenue cycle leaders regarding anesthesia billing transparency through reporting capabilities and access to data. While each of those conversations have uncovered a focus on certain metrics or presentation of data, it is clear the one thing that is missing is transparency.
Most anesthesia billing companies provide a set of standard month-end reports and many provide some type of web-based dashboard. With system generated month-end reports there is a limitation to the reports available and how that data is presented. These generic reports are no longer enough to manage an anesthesia practice.
Data is the new currency, and the value data provides is critical to your anesthesia practice. Billing information presented in a comprehensive format will support a practice in making decisions regarding Operating Room efficiency, staff productivity, scheduling and much more. Much like data mining, the knowledge we’ve gained over years of conversations lead to the development of our proprietary, interactive data and analytic tool, CogitoAnalytics.
CogitoAnalytics syncs with our billing system daily giving clients near real-time access to reports and data. In addition to providing billing data in a myriad of comprehensible formats within CogitoAnalytics, we also deliver raw data through the platform. This means in addition to seeing metrics such as net collection percentage, volume, charges, payments, etc., we provide our clients with the patient and claim level detail in support of those metrics.
CogitoAnalytics provides hospital finance and anesthesia clinicians with 24/7 access to data. Users are able to view data by location, inpatient vs outpatient, by payer, by surgeon and much more. CogitoAnalytics allows for user-based roles so access to only certain reports/modules can be granted. For instance, a non-shareholder may view their productivity or cases but not that of the entire group. For hospital clients, anesthesia clinicians may be granted access to volumes or case acuity data while finance teams have access to revenue data. CogitoAnalytics allows the user to drill down using interactive filtering on a wide variety of key performance indicators (KPIs) including but not limited to:
- Expected vs. Collected
- Productivity Comparisons
- Financial Forecasting/Cash Flow
- YOY Comparisons
- Provider Compensation
- Payer Mix by Facility/Enterprise
- Volume Trends
The dashboard is completely customizable so the home screen, reports and tabs are presented in a manner that best suits your practice.
Fusion’s team of analysts and developers are constantly enhancing CogitoAnalytics’ capabilities to stay ahead of the ever-changing requirements of our industry. However, we believe the most important quality CogitoAnalytics possesses is that it provides complete anesthesia billing transparency into your data as well as Fusion’s performance.
Interested in learning more about CogitoAnalytics or explore a transparent partnership with Fusion Anesthesia Solutions? Contact us today to schedule your demo at firstname.lastname@example.org.