Financial metrics. Governance issues. Readmission rates. Healthcare consumer satisfaction. Community relations. In the C-suite or the boardroom, the people who guide the company could be asked about Key Performance Indicators on any of these areas. And now, senior management and board members can have immediate, access to key performance data. Wherever and whenever they want; on their laptops or tablets.
Most importantly, every user sees the right information at the right level of detail, presented in clear, simple visuals. These aren’t generic KPIs; they’re user-defined in a team meeting where clients collaborate with us. And they’re standardized, so everyone is on the same page. If anyone needs more detail, GuideBoard is linked to a deeper level called SideBoards. They make it easy to dig into the data behind the trends, so users can understand not just what’s going on, but why.
Senior management doesn’t have to constantly ask analysts what the data means. GuideBoard interprets it for them, in a clear, understandable way.
– Ted Ackroyd
HealthcareData Company, LLC
GuideBoard is much more than a digital cheat sheet for board members; it’s an effective way to let senior management and Boards of Directors share information and work effectively towards their common goals. GuideBoard helps senior management inform the board about how things are going, and which things need their immediate attention. And it helps boards guide senior management on selected areas that are measured by KPI. Here are just a few examples:
A Revenue Cycle Director sends an alert. Because of a change in billing procedures, managed care revenue is up 5.6% this quarter. Using predictive regression, she informs the Board they should expect to see improved yield ratios for this payer class.
A Board Member hears a rumor that the hospital’s patient satisfaction scores may be slipping. Instead of relying on anecdotes, he checks GuideBoard in the middle of a Board meeting and is pleased to learn that the scores are turning around.
A Clinical Leader sees that readmission rates are up to 18% last month. With a quick investigation on GuideBoard, she tells the leadership team that the problem was isolated to only one of the facilities in the primary area of care coordination and discharge planning, and gives the case manager a practical solution.
A CFO reports that the A/R portfolio is up by 9% over last month. He attributes most of the increase to new procedures in managed care billing and informs the Board that corrective action has already been taken.