ATLANTA (April 5, 2019)—Brightree introduced Advanced Analytics, an analytics platform for HMEs that highlights workflow insights, KPI tracking and peer benchmarking, without requiring users to aggregate data themselves.
Brightree’s Advanced Analytics, powered by billions of data points, provides HMEs with a scalable data solution. This enables smarter and more informed business decisions for revenue cycle management, business operations and resupply programs, which supports better patient care.
“Traditionally, HMEs have had to devote significant time, resources and money to conducting baseline analytics and tracking business performance and trends,” said Brightree CEO Matt Mellott. “Now our customers can easily evaluate performance across their entire organization in one secure location, make faster, more informed decisions, and devote more time to serving their patients.”
About Advanced Analytics
Advanced Analytics’ dashboards distill vast information from an HME’s Brightree database and third-party databases. In addition to a high-level business overview, HMEs can quickly drill down into dozens of key performance indicators, including net revenue collection, accounts receivable, sales outstanding and invoices. With an easy-to-use interface, HMEs can highlight trends, find opportunities and discover actionable insights for improved outcomes. Plus, Advanced Analytics allows HMEs to benchmark their performance against anonymized HME organizations and industry averages.
Enterprises that apply an advanced analytics solution have 33% more revenue growth and 12 times more profit growth than those that do not, and also are more than twice as likely to outperform their peers, according to two recent studies by IBM.
“We chose Advanced Analytics over our in-house analytics for our resupply business because it’s made by people who understand what drives our business, what we should be looking for, and what works from working with other HMEs,” said Jon Longo, Re-Supply Manager for Reliable Respiratory in Norwood, Mass. “Advanced Analytics hands us that report on a silver platter, allowing us to capture missed revenue and grow our patient base.”
Learn more about Brightree Advanced Analytics online or stop by Brightree’s Booth (317) at Medtrade Spring.