White paper written by Jim B-Reay, Aspen Advisors
Abstract: As hospitals make significant investments in electronic medical record (EMR) technology, along with related updates to hospital billing, materials management, costing, and quality systems, they typically find that the promised analytics and reporting are not adequate. To tie together data from these disparate systems and even to optimize access to data within an integrated system, a Business Intelligence (BI) strategy is needed.
A typical BI strategy encompasses data governance; data staging and warehousing; tools for query, reporting, and dashboards; and a staffing model to build the initial framework and expand the architecture to serve the changing needs of the business.
For many organizations, this additional investment is hard to justify considering the outlays already made in their core systems. While working on one strategy recently, I was asked: “If we make this investment, how can we measure the direct return on investment (ROI)? What is the actual ROI of an investment in BI?”
To help the client answer these questions, I reached out to a dozen organizations, all of which have BI programs of some degree of maturity and asked the very same questions. The responses I got were different and enlightening. I found that successful sites had a common theme: BI value is based on the use of the system to analyze data from various clinical and administrative systems and the willingness of the organization to act upon the findings to make changes that ultimately improve productivity and efficiency.
About Jim B-Reay:
Jim B-Reay has over 18 years of experience as an accomplished program manager and advisor to healthcare and IT executives. His deep understanding of healthcare operations, breadth of technical experience, and strong interpersonal skills enable Mr. B-Reay to demonstrate equal comfort assessing technical details, managing a diverse project team, or facilitating decisions among a group of executive and clinical sponsors. With a background in applica