Data is a resource that exists in abundance but is widely underutilized. New technologies produce data at an astounding rate; however, we see organizations struggle to drive performance from the expanse of data that is available to them. Surprisingly, even those with large technology budgets and dedicated teams of data analysts oftentimes do not realize significant returns on their efforts. We believe this is due to the limited or restricted availability of data-driven performance feedback. Because of this, it is time to democratize data by providing tools that enable an organization to access performance insights and guide daily activities.
Data democratization is the concept that stakeholders have accessible, timely insight into relevant organizational and role-specific performance and tools that enhance operations. This access allows those who are most able to influence metrics and outcomes to identify and act on critical business information. Data democratization removes bottlenecks with data availability, empowers and engages staff, and helps improve performance.
Data democratization is best deployed as part of a data-driven, decision-making culture. Forvis Mazars uses the four-step process outlined below to help initiate the development of this culture.
- Alignment – Leadership must articulate the values and expected behaviors for data usage within the organization and update processes to reinforce desired behaviors. These processes lead to the second step, education.
- Education – The organization should create opportunities for continuous education and reinforcement of that learning. In addition, people should be encouraged to use data whenever possible to help understand and improve performance.
- Accountability – Leaders must communicate clear expectations to their staff, and performance metrics must be used to monitor behavior and reward success. Data-driven performance management becomes a critical component of the organization’s operating model.
- Consistency – Culture change only works if leadership is consistent. With data democratization, the use of data should be public, consistent, and ethical.
Within a data-driven environment, organizations can use tools that Forvis Mazars has created to help organize and drive results. As an example, our Workforce Productivity Manager (WPM) helps healthcare leaders identify improvement opportunities for workforce and production. Based on leading practice comparative benchmarks and established departmental productivity standards, WPM provides strategies for key drivers of inefficient paid hours such as agency staffing and avoidable paid hours. WPM features and benefits include biweekly performance dashboards, departmental variance reporting, and productivity comparative benchmarking, as well as an executive summary view. Department managers have the capability to access a dashboard with performance, volume, pay code, and hourly trends. In addition, the executive team can review trends over time and identify top-performing departments.
As another example, Sta2t is a data analytics platform designed to provide physician enterprises with actionable insights into current and historical performances. Sta2t is a cloud-based tool that can be easily accessed by providers, executives, and staff to understand and help to improve performance. This platform collects and standardizes data from multiple sources and provides insights into four main categories: practice productivity, scheduling, revenue cycle, and payor solutions. Sta2T provides organizations with the capability to measure against targets, drill down data, and increase transparency.
WPM and Sta2t are two examples of how Forvis Mazars is helping clients create greater data access and accessibility for individuals throughout an organization. These platforms were presented at Forvis Mazars’ Healthcare Symposium 2022 as a part of the Innovation Labs. Other topics that were covered during the Symposium included:
- Change Analytics – Using survey diagnostics and artificial intelligence to understand an organization’s agility, burnout, and confidence levels.
- Market Intelligence – Service Line and Market Demographic dashboards to assess key metrics such as market comparisons and readmission trends.
- Value-Based Care Analytics – Enabling organizations to manage total cost of care, improve quality and financial performance, and identify opportunities.
The power of data relies on its accuracy, timeliness, and transparency to be used effectively. It is important that data is made available to those whose performance will impact key metrics. Transforming the way data is used and by whom can create a more data-driven culture that can help improve the performance of an organization.
If you have questions or need assistance, please reach out to a professional at Forvis Mazars or submit the Contact Us form below.