Insights: Unleashing the power and avoiding the pitfalls of data

Healthcare’s business analytics market is projected to grow from $14 billion in 2019 to more than $50 billion by 2024. To help healthcare professionals better understand and utilize data, this episode of MGMA Insights is focused on providing information on how data can best be utilized in a medical practice. We also explain the importance of evidence-based thinking and discuss how to apply key metrics to a dataset.

Experts and topics in this episode include:

• Ashley Voss, Data Analyst II, MGMA, on data collection and analysis
• Chris Addison, MBA, LSSGB, Student Health Services, on Lean principles and data-driven decisions
• Lynda Barrie, Consultant, MGMA Consulting, on key metrics to use in datasets
• Frank Cohen, MBB, MPA, Director of Analytics, Doctors Management LLC, on evidence-based thinking
• Timothy Smith, CPA, ABV, Principal, TS Healthcare Consulting, on being a data skeptic

Sources for this episode include:

• Physician Practice Losses: Using Loss Sourcing Analysis to Identify and Quantify Loss Causes
• Get Proactive with Payments: How Medical Groups Can Fearlessly Revamp Revenue Cycle Management