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In today’s economic climate, many hospital executives are being forced to monitor and evaluate
costs more closely than ever before. Revenue cycle improvements represent only one side of the
profitability equation, reducing/controlling costs is essential to your bottom line health.
Cleverley + Associates has long provided tools for hospital financial managers to use in
managing costs. With a variety of data sources available, we are able to provide comparative
data and analyses at many levels and compatible with any budget. Our data analysts and
consultants not only identify where your costs are high, but help you drill down to the root
causes so that you have actionable information.
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| Upcoming Events |
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| 9/19/2010 | | | HFMA California Fall Conference | |
| 9/19/2010 | | | Texas Association for Healthcare Financial Administration (TAHFA) Fall Symposium | |
| 9/23/2010 | | | Webinar: Regional/Operational Effects on Hospital Pricing and Strategies for Price Defense | |
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Consulting Services
Facility-level Reports
Hospital Dashboard
Hospital Cost Index
CMI Trend
Department-level Reports
Encounter-level Reports
MSDRG Monitoring
APC Cost Performance
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Please click on a solution link to learn more. If you have any questions about our solutions or would like more information about them, please click here and a Cleverley + Associates representative will contact you.
| Financial Performance Review |
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The Financial Performance Review (FPR) is a series of performance-enhancement products that can be scaled and customized to meet the needs of your organization. The FPR has three components:
Survey: assess your financial position
Design: create your financial plan
Expand: identify opportunities to build financial strength
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| Key Features |
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Quickly identify specific actions to improve the financial position of the organization |
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Create a strategic game plan for future growth |
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Benchmark to local competitors as well as US groups |
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Tailor the scope of the project to address facility-specific issues |
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Receive copies of all supporting reports used in the analysis |
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| Who Can Use Thhis Service |
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CFOs |
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CEOs |
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Senior finance executives |
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Senior operations executives |
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| Medicare Profitability Analysis |
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| Medicare is the largest payer for most US acute-care hospitals, however, contract negotiation is not an option to enhance profitability. This product identifies ten actionable ways to improve the margin on treating patients within this critical payer group without sacrificing quality or ethical standards. |
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| Key Features |
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Review current Medicare profitability |
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Evaluate reported Medicare bad debt |
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Evaluate critical DRG dyads |
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Evaluate billing procedures |
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Examine facility-level costliness |
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Examine nursing opportunities |
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Examine ancillary opportunities |
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Examine length-of-stay opportunities |
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Target specific DRGs |
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Target specific APCs |
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| Who Can Use This Service |
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CEOs |
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CFOs |
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Directors of Finance |
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Directors of Reimbursement |
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| Custom Assessment |
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Data
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Cleverley + Associates provides custom data and consulting services designed to meet your hospital’s unique challenges. With access to the most current data from the CMS along with proprietary measures and databases, we can create data solutions designed to address the issues that you are facing and provide actionable intelligence. Such projects may include:
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Market research data |
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New service line research |
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Cost/LOS trending reports |
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Consulting
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In addition to vast amounts of data and proprietary metrics, Cleverley + Associates also provides unique access to our consulting staff to drill into the data and help find the solutions you need. We will scope out the project based on our requirements, determine the appropriate data resources, review the data, and provide analyses unique to your specific need. These project involve direct contact with our staff at every step of the process to make sure that you get what you need!
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| Who Can Use This Service |
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CEOs |
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CFOs |
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Other Hospital Executive Management |
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Financial Management staff |
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Planners |
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| Hospital Dashboard Report |
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| The Hospital Dashboard Report offers healthcare executives and consultants a means of monitoring key hospital performance drivers by answering two questions: |
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What is the overall financial position of my or any general acute care hospital? |
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What are the individual strengths and weaknesses of the hospital? |
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| Key Features |
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68 critical financial performance ratios |
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Benchmark to a peer of your choice as well as the US median values |
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Cleverley + Associates’ proprietary indices: Hospital Cost Index®, Hospital Charge Index®, Financial Strength Index® |
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| Who Can Use The Report |
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CEOs |
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CFOs |
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Directors of Finance |
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| Hospital Cost/Charge Index Report |
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Hospital senior executives and board members routinely review measures of facility cost to assess the relative cost efficiency of their firms. The most commonly used measures are cost per adjusted discharge or cost per adjusted patient day. These measures have serious flaws, which limit their comparability to other hospitals which is why we developed the Hospital Cost Index®, as a better measure of relative hospital efficiency. Our measure adjusts for case mix complexity in both inpatient and outpatient operations and can be computed from present publicly available databases. This permits comparison of specific hospitals, including direct competitors, and provides easily available benchmarks for cost efficiency that are highly reliable.
We used the same methodology to create the Hospital Charge Index® which is composed of the Medicare charge per discharge (MCPD) and the Medicare charge per outpatient claim (MCPC). This metric is the best possible charge comparison that can be developed from public-use file data. The index can be determined for every US hospital. The three measures further enable price breakouts for inpatient and outpatient business sectors. This is critical when managed-care contracts have split payment methods between inpatient and outpatient areas.
The Hospital Cost/Charge Index Report combines both proprietary measures in one easy-to-read report that compares your hospital to peers and peer groups that you select.
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| Key Features |
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Data on your hospital & peers/peer group that you choose |
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PDF report & Excel spreadsheet provided |
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Most currently available public data |
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Same day delivery |
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| Who Can Use This Service |
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CEOs |
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CFOs |
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Other Hospital Executive Management |
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Financial Management staff |
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Planners |
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| CMI Trend Report |
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To help hospital executives prepare for the bottom-line impact of CMS' proposed payment reforms for inpatient services, Cleverley + Associates has created this report to review your inpatient activity for 2006 and project the impact of the changes through 2008.
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| Key Features |
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2006 volumes and charges mapped to the proposed 2008 severity-adjusted DRGs |
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CMI trend analysis projected through 2008 |
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Volume, Charge, and CMI analysis at the MDC level, projected through 2008 |
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Volume, Charge, and CMI analysis at the DRG level, projected through 2008 |
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| Who Can Use The Report |
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VPs of Finance |
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Directors of Finance |
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Directors of Reimbursement |
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DRG Coordinators |
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CFOs |
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CEOs |
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| Departmental Benchmarking Report |
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| The Departmental Benchmarking Report (DBR) allows healthcare executives to evaluate overall cost position and identify departments with cost savings opportunities. The DBR includes two output measures for comparison and validation for most departments. In addition, there is no client-side data submission required. |
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Over 70 clinical and administrative departments |
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Departmental costs standardized by department-specific output units and adjusted patient day |
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Savings estimates based on quartiles of a client-selected peer group |
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Benchmarking against up to 4 peer facilities |
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| Who Can Use The Report |
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CEOs |
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COOs |
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CFOs |
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VPs of Finance |
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Directors of Finance |
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| MSDRG Monitoring Report |
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| Compare your hospital's payment under 2007 DRGs with projected impact of the 2008 MS-DRG system. |
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| Key Features |
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Identify potentially problematic areas - provide focus for further investigation followed by education of coding professionals and medical staff |
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Recognize the financial impact - benchmark against peers on trends in your hospital's inpatient claims data to assist your organization in effectively adapting to the new system |
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| Who Can Use The Report |
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VPs of Finance |
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Directors of Finance |
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Directors of Reimbursement |
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DRG Coordinator |
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CFOs |
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CEOs |
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| APC Cost Performance Report |
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| The APC Cost Performance Report permits a comparison of charges for key outpatient procedures. It allows the user to identify specific reasons why costs for selected procedures are different from peer hospitals. Isolation of key drivers such as bundling, mix, pricing, and efficiency can be used to enhance overall competitive position. |
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| Key Features |
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Overall Facility Summary |
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Overall APC Summary |
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Individual APC Data: Payment and Profitability Summary, Detailed Listing of Procedures |
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Printable PDF & Excel spreadsheet |
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| Who Can Use The Report |
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CEOs |
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COOs |
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CFOs |
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VPs of Finance |
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Directors of Finance |
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APC Coordinator |
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| Billing & Coding Data Quality Report |
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| The Billing and Coding Data Quality Report provides an overview of outpatient reporting discrepancies to illustrate the potential amount of missed reimbursement due to absent code submission. This report is a quick, cost-effective way to examine coding issues without introducing an outside party. |
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| Key Features |
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Quickly identify major issues with the Executive Summary |
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Analyze individual issues over a 3-year trend |
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Benchmark to state and US groups |
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Examine up to 30 areas in categories such as surgical procedures, radiology, lab procedures, pharmacy and device items, and E/M levels |
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Enhanced version of report includes client-submitted claims and recommended course of action! |
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| Who Can Use The Report |
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CDM Coordinators |
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HIM Directors |
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Directors of Finance |
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Revenue Cycle Managers |
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VPs of Finance |
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