Data yields healthier operating margins
Data tells stories. Since its earliest days—when Kansas City was still a frontier trading town—Saint Luke’s Health System has listened to the stories of the people it serves and sought new ways of delivering better care and more value. Find out more here.
Confronted with more data, regulation, competition, cost-pressure and technological change than perhaps any other time in history, organizations are under pressure to grow, optimize key operational areas and become more efficient, effective and agile. At KPMG, we have helped many of the world’s leading companies tackle these challenges and drive business value across the enterprise. This post is one of a multi-part series that highlights our leaders’ views from KPMG’s client success stories.
Data tells stories. Since its earliest days—when Kansas City was still a frontier trading town—Saint Luke’s Health System has listened to the stories of the people it serves and sought new ways of delivering better care and more value.
And today—as the healthcare market experiences seismic shifts—Saint Luke’s wanted to find the stories hidden in its vast database to ensure that it was continuing to deliver on its promise of excellent care.
First, we helped the health system review more than 100,000 previously paid insurance claims, compare its rates to the competition, and harness that power of that vast data trove.
Then, we created a powerful, customized tool that will enable Saint Luke’s to analyze and negotiate future rates, generate more revenue and, ultimately, enhance the quality of its patients’ experiences and the value-based care it provides to the community it serves. Now we believe that’s a good story.
Our insights
- Use the right tool at the right time. A robust tool—in this case, a spreadsheet loaded with relevant data—can provide an important perspective during contract negotiations or market evaluations.
- Why data tells stories. The healthcare market changes every day, and having real-time access to in-depth data provides the critical perspective required to evaluate issues and negotiate competitive rates.
- One size doesn’t fit all. Each healthcare system is unique, and the information and tools developed should be customized to meet the individual requirements of individual markets.
Whether you’re trying to take advantage of new technologies, get the most out of your people, reach customers in new ways, maximize competitive advantage or achieve aggressive growth goals, learn how we’ve helped other organizations do it – not in theory, but in the real-world.
Read here to learn more on how KPMG helped non-profit Saint Luke’s health system generate more revenue. Also, discover more at KPMG’s Analytics and Health and Life Sciences practice.
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