Enhanced Financial Operations in a US Healthcare Company through Data And Automation
Real Results Happen With GetOnData
30 %
increase in productivity for financial operations
99.9 %
accuracy in financial reporting, ensuring compliance
2 M $
Is the amount that is saved annually through optimization
50 %
reduction in processing time via automation and integration
Introduction of the Project to improve Financial Operations for a US Healthcare Company
Key Highlights
Data Analytics
Data Engineering
Business Challenges in Financial Operations faced by Our USA-based Healthcare Client
Our Comprehensive Data-Driven Solution for Healthcare provider
Data Integration and Centralization
We developed a centralized data platform using Snowflake to consolidate financial data from multiple sources, including billing systems, general ledgers, and expense management tools. Python scripts were utilized for ETL processes to integrate data into the Snowflake data warehouse seamlessly. Robust data governance and security measures were implemented to ensure data quality, integrity, and compliance with healthcare regulations.
Process Automation
To streamline revenue cycle management, critical financial processes such as invoicing, expense tracking, and reporting were automated using Python scripts and Snowflake’s automation capabilities. It also included automating journal entries, reconciliations, and financial statement generation.
Advanced Analytics and Insights
We deployed advanced analytics models using Python libraries such as NumPy, Pandas, and Scikit-learn to uncover insights into cost drivers, revenue streams, and operational efficiency. Machine learning techniques were leveraged to predict future financial performance and optimize resource allocation. Interactive dashboards and visualizations were created using PowerBI to provide real-time insights into financial KPIs, trends, and variances.
SaaS-based Workflow Solutions
Integrated SaaS-based workflow tools streamlined revenue cycle management processes, including claims processing, denials management, and patient billing. It automated the end-to-end revenue cycle management workflow, improving efficiency and reducing manual effort.
Interactive Dashboards
Our Solutions Impact on Healthcare Financial Operations
Improved Productivity
Reduced manual effort and enhanced productivity in financial operations and revenue cycle management by 30%.
Enhanced Visibility
Achieved real-time visibility into financial performance and the revenue cycle, allowing for more informed decision-making.
Cost Savings
Identified $2.5 million in annual cost savings through process optimization and resource allocation, leading to improved healthcare efficiency.
Improved Reporting Accuracy
Enhanced financial reporting accuracy to 99.9%, ensuring compliance with regulatory requirements.
Client Testimonial
GetOnData’s expertise in data engineering and analytics solutions has been instrumental in transforming our financial operations and revenue cycle management. The automated processes, data-driven insights, and improved efficiency have allowed us to operate more effectively and redirect resources to serve our patients better.
