Drive ongoing performance improvement by unlocking the patterns and insights
hidden in your data
Find huge cost savings opportunities
In the age of value-based care, keeping healthcare costs in line is paramount, but you must reduce costs in the right places. Axiom® Comparative Analytics has helped healthcare organizations like yours identify up to $1 million in cost savings opportunities. With a wide array of financial metrics across all areas of your business and departments, quickly compare your own 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.
Harness the power of big data in healthcare
Our data scientists have created a unique approach to the data fueling Comparative Analytics. Our state-of-the-art machine learning techniques 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 800 hospitals, including data at the system, region, location, and department level – all updated monthly.
Comparative Analytics is powered by Axiom® Intelligence, our fluid and visual user experience. Role-based dashboards utilize our proprietary cost improvement algorithm that was developed in conjunction with Kaufman Hall management consultants. 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.