Sentry Data Systems’ Provider Analytics automates physician compensation process and provides near real-time visibility into physician group performance
Provider Analytics, a Sentry Data Systems, Inc. solution, is making finance executives’ lives a lot easier. Provider Analytics helps hospital-owned and independent physician groups improve financial performance by providing near real-time data analysis that helps manage costs and profitability as well as physician engagement and satisfaction.
Most physician groups lack the tools needed to gain near real-time visibility into their overall financial health and performance. Many current methods of analysis and reporting are still done manually, usually through Excel or external consultants, and don’t offer decision support in a timely manner. This manual process can often be cumbersome and inaccurate.
“This solution comes at a time when healthcare organizations are being challenged to develop and administer complex physician compensation plans using disconnected, labor-intensive processes and inadequate software,” explains Tim Lantz, Senior Vice President of Analytics for Sentry Data Systems, Inc. “Provider Analytics is a strategically designed solution that automates a number of critical functions, providing a much-needed boost to overall operating efficiency. It will undoubtedly save hospitals and physician practices time and money by allowing staff to focus more of their efforts on the thing that matters the most—the patient.”
The Provider Analytics compensation administration module is designed to:
- Reduce compensation errors
- Eliminate over/under compensation payments
- Enable administration to align provider compensation around quality metrics
- Reduce staff hours spent calculating physician productivity and compensation
- Allow for historical AR analysis by payer/patient
- Benchmark against internal and external data points
- Improve physician satisfaction
“We are finding that many clients have a need to establish a single source of truth for performance data and build a culture of transparency,” said Dr. William Kirsh, Chief Medical Officer for Sentry Data Systems, Inc. “Provider Analytics provides an easy to use, robust solution to automate and streamline physician compensation reporting that can increase productivity and satisfaction.”
Special features of the module include:
- Analyze trended provider-specific data points
- High level executive analysis reflecting relevant key stats and operating measures
- Historic A/R analysis
- Aging A/R analysis
- Ad-Hoc analysis
- Physician benchmarking
- Individual user security, end users only see what’s relevant to them
The Provider Analytics solution is Sentry’s most recent addition to its portfolio of products that provide service line costing and profitability, productivity management and revenue cycle performance.
About Sentry Data Systems, Inc.
Located in Deerfield Beach, FL, Sentry Data Systems, a pioneer in automated pharmacy procurement and utilization management and 340B compliance, is leading the healthcare industry in utilizing advanced data analytics to reduce total cost of care, improve quality and provide better outcomes. More than 8,800 hospitals, clinics, integrated delivery networks (IDNs) and pharmacies across the country rely on Sentry’s unique proprietary data set for their analytics, procurement, drug utilization and compliance solutions. Since 2003, Sentry’s solutions have processed over 7 billion dispensations on more than 1.2 billion claims and currently provide decision support for more than 89 million patients. To date, Sentry has helped hospitals, health systems and IDNs realize more than $6 billion in savings to help them better meet their safety net mission and continue to serve their communities.