New Outpatient Analytics Give Hospital Administrators Critical Data for Improving Cost and Quality of Care
Ann Arbor, MI – November 26, 2012 — Truven Health Analytics℠, formerly the Healthcare business of Thomson Reuters, today announced the release of its new Care Comparison Outpatient Executive Reports. The reports help hospitals control spending and improve quality of care by providing critical outpatient data regarding physician utilization, competition within a selected market, and differences in procedure costs.
The reports will be issued to participating hospitals on a quarterly basis and include information that allows administrators to do the following:
- Analyze Service Line and Top Procedure Volumes: Care Comparison will report the number of outpatient procedures performed by a hospital, categorized by clinical and technical service and physician, as well as list of the highest volume and charge for outpatient procedures.
- Gain Market Share Advantage: The reports will list the highest volume and charge for outpatient procedures for both the hospital and its top competitors.
- Calculate Charges and Estimated Costs: Based on approximate cost-to-charge ratios calculated from the hospital's most recent Medicare cost report, Care Comparison will include the sum total of actual charges submitted by their facility.
- Compare Estimated Costs to Benchmarks: The reports will include comparisons of estimated costs-per-case in order to allow the hospital to established benchmarks.
“In the current economic climate, hospitals’ ability to control spending while still being able to enhance care is paramount,” said Tim Logan, manager, state associations at Truven Health Analytics. “The information that Care Comparisons Outpatient Executive Reports provides will be integral in the development of outpatient services that promote the best outcomes.”
For more information on the Outpatient Reporting offering, please click here.
About Truven Health AnalyticsSM
Truven Health Analytics, formerly the Healthcare business of Thomson Reuters, delivers unbiased information, analytic tools, benchmarks, and services to the healthcare industry. Hospitals, government agencies, employers, health plans, clinicians, and pharmaceutical and medical device companies have relied on us for more than 30 years. We combine our deep clinical, financial, and healthcare management expertise with innovative technology platforms and information assets to make healthcare better by collaborating with our customers to uncover and realize opportunities for improving quality, efficiency, and outcomes. With more than 2,000 employees globally, we have major offices in Ann Arbor, Mich.; Chicago; and Denver. Advantage Suite, Micromedex, ActionOI, MarketScan, and 100 Top Hospitals are registered trademarks or trademarks of Truven Health Analytics. For more information, please visit truvenhealth.com.