Leading Hospitals Choose Hospital IQ to Improve Operational Efficiency of Perioperative Services
Hospital IQ for Perioperative Enables Hospitals to Leverage Existing IT Investments to Improve OR Utilization, Optimize Perioperative Staffing, and Grow Surgical Volume and Revenue
NEWTON, MA, January 17, 2018 – Hospital IQ, the leading provider of a cloud-based operations planning and management software platform that helps hospitals reduce operational cost, increase revenue and improve patient access and quality, today announced several leading national healthcare providers have chosen the company’s advanced data analytics platform to improve perioperative performance. The latest customers to adopt the Hospital IQ platform include New Jersey-based Trinitas Regional Medical Center; Mercy Medical Center of Des Moines (IA); Boston Medical Center (BMC); University Hospitals of Cleveland; John T. Mather Memorial Hospital of Port Jefferson, New York; Sarasota Memorial Hospital of Sarasota, Florida; Binghamton General Hospital in Binghamton, New York and New York-based South Nassau Communities Hospital, which are using Hospital IQ’s advanced data analytics, machine learning and simulation capabilities to solve some of their most complex perioperative operational challenges.
The multifaceted nature of the OR suite makes it difficult to optimize its overall efficiency. Historically, perioperative leaders have relied on manual spreadsheets, trial-and-error experimentation, or consultants to drive operational improvements. These traditional methods are time-consuming, costly, often inaccurate, and have tremendous lag time to understanding impact.
Hospital IQ’s operations planning and management platform enables perioperative managers to use the wealth of organizational data they already possess from existing IT investments made in EMRs, bed management, and case management systems to quickly and easily see the potential impact of proposed block, case mix and/or staffing changes – on revenue, costs, schedules, and overall efficiency – not only in the perioperative suite, but throughout the hospital and across the health system. This allows hospitals to make faster and smarter decisions that drive revenue and improve margins while ensuring outstanding patient care.
Hospital IQ for Perioperative helps hospitals:
- Develop optimized block and OR schedules that are easier to manage and understand the overall performance.
- Automate and make more precise the staff planning and assignment process, complementing traditional time and attendance systems, such as Kronos and API.
- Provide service line leaders the ability to dynamically manage their specialties and grow volume.
- Use “what-if” modeling to predict and manage the impact of operational changes without costly trial and error.
“The OR is a core access point and financial driver for most hospitals and health systems. Every hospital and every OR leader is tasked with finding ways to increase volume and efficiency. They simply cannot afford to mismanage valuable resources,” said Rich Krueger, CEO, Hospital IQ. “Hospital IQ’s solutions allow hospital leadership to use the wealth of data at their fingertips, as well as their institutional policies and practices to better understand and overcome the operational shortcomings that affect their ability to deliver outstanding care, while still meeting growth and cost goals.”
Tangible results from Hospital IQ’s perioperative platform include:
Trinitas Regional Medical Center uses Hospital IQ’s analytics and modeling to achieve operational improvements in its surgical planning and perioperative staffing. Staff planning capabilities based on demand allowed the reduction of three full-time equivalent (FTE) positions and accurate analytics reports have improved total perioperative productivity by decreasing idle time by more than 4%. Trinitas also increased OR utilization to 71%, nearing its target goal of 80% utilization.
BMC used Hospital IQ’s data analytics to empower surgical service managers to drive volume, manage and measure individual surgeons, improve OR utilization and reduce the high cost of overtime staffing. The hospital has increased OR volume by 3% annually, while also improving utilization by over 5%, resulting in an incremental annual revenue increase of over $3M, without adding costs.
To learn more about the Hospital IQ perioperative platform, visit http://hospiq.com.
About Hospital IQ
Hospital IQ provides an operations planning and management software platform that gives hospitals and health systems the visibility and actionable insights they need to make informed, data-driven operational decisions that improve patient access, clinical outcomes and financial performance. Our cloud-based software platform combines advanced data analytics, machine learning and simulation technology with an easy-to-use, intuitive user interface to deliver optimized surgical resource alignment, patient flow and scheduling capabilities. Leading institutions including Boston Medical Center, Mercy, and University Hospitals of Cleveland rely on Hospital IQ to help them make the right operational decisions the first time, every time. To learn more, visit http://hospiq.com.