Market insights improve budgets, inform financial forecasts, and guide strategic operational improvements
Find huge cost savings opportunities
In the age of value-based care, keeping healthcare costs in line is paramount. Axiom Comparative Analytics has helped healthcare organizations like yours identify over $1 million in cost savings opportunities. With an array of financial metrics across all areas of your business and departments, compare your financial performance against your peers. Comparative Analytics makes performance improvement and cost conversations easier by giving you the market context you need to ensure a healthy bottom line.
Identify business areas to grow and service lines to develop
Comparative Analytics helps you determine which of your businesses and service lines are cost leaders in the market. Drive patients to these services while you simultaneously develop corrective actions to become leaders in the other services. See what financial success looks like in new service lines you’re considering for investment. You’ll gain the market knowledge you need to develop winning investment business plans for your healthcare organization.
Increase the net return on your physician practices
Evaluate your physician enterprises objectively and gain insight into specific actions to improve their profitability. Comparative Analytics provides a variety of monthly metrics that help you identify the profitability of your physician practices and how they compare to your market. You can align physician, nurse practitioner, and physician assistant compensation with benchmarks by specialty and region. Comparative Analytics also helps you improve productivity with like-for-like measurements against their peers. You can take corrective action more quickly and easily set goals using top-performing peers as the target.
Eliminate the data submission burden with monthly hands-free updates
Our data scientists have created Syntellis IQ – a unique approach to the data fueling Comparative Analytics. Syntellis IQ features state-of-the-art machine learning techniques that automatically normalize and integrate your internal data with external data, making comparisons of financial data easy and fast. Uniform data classification provides access to metrics and measures across any peer group you select. External data includes financial, payroll, and labor utilization metrics from 500+ unique departments across more than 1,000 hospitals, including data at the system, region, location, and department level – all updated monthly.
Comparative Analytics utilizes the fluid and visual user experience shared by other solutions within the Axiom Intelligence suite. Role-based dashboards utilize our proprietary cost improvement algorithm that was developed in conjunction with our partner Kaufman Hall. No need to sort through rows and rows of data – your problem areas are prioritized and displayed in context with your budget, trends, and peers in a single source of truth across multiple levels of your organization. You’ll eliminate hours hunting for opportunities thanks to our instant identification of areas with the most potential for cost improvement.
Free up time for analysis.
Get a single source for normalizing internal data together with timely peer comparison metrics.
#1 in Comparative Analytics & Benchmarking
Verified by Independent, Third-Party Surveys
A top solution should help organizations identify market trends, track changes, and make better strategic decisions regarding performance. Black Book Research recently recognized Axiom Comparative Analytics with a #1 user satisfaction ranking.