Finance leaders at health systems need to keep a sharp eye on the bottom line, yet many struggle to reliably calculate key performance measures.
Agilum has developed a financial analytics maturity model that empowers healthcare organizations to leverage data to manage teams and drive performance improvements across the board. It serves as a roadmap for finance leaders to understand how their performance is aligning to their goals and then pivot as necessary to achieve them.
Agilum’s financial analytics maturity model is comprised of four phases:
- Reporting – Basic financial reports exist, but analysis depends on unreliable manual methods
- Managing – Service line reports are implemented, but with simplistic, averaged cost methods
- Optimizing – Advanced costing is implemented, timely performance metrics are available
- Leading – Performance data is widely trusted, distributed and used to enact change