Do you want Reporting or Analytics? It's really all about context.
Reporting is passive, flat statistics that are just a “tripwire” to alert you to a problem or opportunity that requires further analysis. That is not to say that flat statistics aren't important, in fact they can be valuable.
But Analytics is all about “actionability”. It is interacting with data, analyzing that data, then discovering and following through with the appropriate action. Analytics is having the ability to look at all the surrounding context and understanding and identifying “why and how” you got somewhere and where you most likely will be going. To take any static report at face value without reviewing the surrounding context is simply not good decision making.
Why should your business care about reporting versus analytics? Because without real analytics, you are going to “hit a wall”, there will simply be nothing left that you can do to improve your health plan. Reporting is only going to take you so far. Analytics will allow you to:
- Identify your risk
- Understand the cost of that risk
- Reduce the risk and contain cost
- Improve the quality of healthcare
Our solution is nFORM, an interactive analytic package that integrates all healthcare data and eligibility from multiple vendors into one reporting platform. For plan sponsors, including hospital employers and Third-Party Administrators, the integrated data will include medical, pharmacy, dental, and vision.
nFORM offers a web-based software-as-a-service delivery model which substantially reduces the up-front capital investment in technology infrastructure needed to drive down cost and improve quality of care.