The Hospital of Saint Raphael’s Faculty Practice Plan in New Haven, Conn. has deployed software designed to measure practice performance as well as provide revenue management and operational improvements.
The new system, Think First’s Instant Informatics suite, includes revenue opportunity dashboards, which are designed to address physician productivity, denials, compliance and charge lag.
“The Think First team and their analytics tools provide highly valuable and actionable information,” said Alan Kliger, chairman of the FPP’s Department of Medicine. “In a short period of time, the Think First team has proven themselves instrumental in helping my staff improve the way we manage the Department of Medicine.”
By leveraging these new tools, Kliger said, the FFP can monitor key performance indicators and compare their clinical staff to specific benchmarks that FFP officials have established. The FFP will also be able to quantify expected financial results and identify processes that need to be modified or streamlined.
Think First officials said the new systems will give FFP access to information at the line of service, physician and payer level, where they will have the ability to make improvements on performance and the bottom line.
"In the short time it has been operational, Instant Informatics has been able to quickly identify significant and lasting improvements to the FPP’s bottom line,” said Chris George, CEO of Think First.