IU Health La Porte Hospital is a 227-bed facility located 60 miles east of Chicago, serving counties in northwest Indiana and south Michigan.
Many healthcare administrators come from clinical or other non-finance backgrounds. Some don’t grasp financials as well as others. INSIGHTS is an excellent tool for teaching financial accountability and how to find and use the right data.
Navigation is intuitive and many calculations are automatic. Easy access to all the relevant details provides the clear view of complex information managers need to make sound decisions quickly and confidently and to take full responsibility for their departments’ financial results.
At La Porte Hospital, INSIGHTS brought noticeable improvement in the way managers looked at and used financial information. The hospital significantly increased the number of managers who actively worked with monthly budget figures, paid attention to key financials, and managed their departments more proactively.
Set up a no-cost, no-obligation demo of INSIGHTS, to learn how this powerful new tool can help your healthcare facility provide more and better care while lowering costs, using scarce resources more efficiently, and improving productivity.
INSIGHTS has been ranked #1 Budgeting Software for 2011, 2012, and 2013 by KLAS Enterprises, LLC, Best in KLAS Awards.
MD Buyline’s User Satisfaction Report rates INSIGHTS highest in Product Integration and Training.
Through demonstrated technology success and customer commitment, Healthcare Insights, LLC has achieved Gold Competency in the Microsoft Partner Network.
A cumbersome financial management system was making it almost impossible to access, aggregate, analyze, and share detailed hospital metrics to support decision-making. Inefficiencies and redundancies strained limited staff resources, drained operating funds, allowed problems to go undetected, and impeded leadership's ability to set long-term goals.
A way to manage, monitor, and report on daily operations so that hospital productivity could be improved, performance expectations met, and long-range financial goals set.
A financial and operational hospital decision-support service suite that helped senior-level executives, division heads, and managers improve and sustain effectiveness, generate better bottom-line results, and align daily operations with strategic goals.
Hospital Performance improvement — Better financial management quickly led to dramatic bottom-line results. Annual operating margin went from near break-even to consistently averaging six percent—giving the hospital the flexibility to take on more risks for enhancing revenue, expanding existing services and facilities, and adding new product lines.
Modeling and forecasting — INSIGHTS provided the ability to trend current performance against historical data, project what can be expected in the future for reimbursement and inflation rates, overlay with impact of adding new services—not just on operating margin, but also what cash-in-hand looks like, do they have to add debt to the mix, if so, how much—and develop a very specific long-range plan.
Faster hospital budgeting — Budget workflow accelerated 50 percent—from three months to six weeks—allowing the hospital budgeting process to start two months later with more robust data.
Watch video — Healthcare executives talk about the benefits of having the data they need in one common language, in one system, on their desktops to budget faster, quickly correct variances, analyze and share data, increase accountability, and make better, evidence-based decisions every day.