Data quality is the foundation of hospital decision-making and analytics. Is yours holding you back?
Does any of this sound familiar?
Too many databases
- You’re running feeds from multiple databases to multiple modules — just to put together a budget or analyze your performance.
Too much reconciliation
- You’re spending too many hours reconciling data between financial modules.
Not enough communication
- Your hospital finance modules don’t talk to one another — you’re basically playing a sophisticated game of “telephone.”
Minimal vendor support
- Your vendor is only performing a few minor checks on your most critical data.
You should be working from one database between all of your entity systems.
What is Honest Data?
Send data once
Honest data is One database. One system. One answer. One source of truth on your journey to financial health.
Signs You’re Dealing with Inaccurate Data
Some “leading” systems require 3 databases across all your systems — that’s 3 times the work!
This might sound reasonable, but chances are you’ve just gotten used to making decisions based on inaccurate data and doing extra, unnecessary work.
It’s time to ask yourself a few questions…
- Are your analysts spending the majority of their time compiling data?
- Are you working with multiple databases for cost accounting, budgeting, and financial management reporting?
- Are your managers constantly reconciling between modules, burning excessive time processing data and producing reports?
- Do you have to run to your vendor for updates and even minor changes?
- Are your financial and clinical teams working on a solution that feels cobbled together from the ’90s?
If so, you’re dealing with inaccurate data and you’re risking your organization’s financial health — every day.
Step into Honest Data with Oi
At Oi, we bring healthcare data to life.
This starts with an approach to data that prioritizes easy reconciliation, seamless communication between modules, and minimal work for you. Our approach to data means…
- Your financial data flows from Oi Financial Performance directly to Budget and Cost Accounting.
- You reconcile once — data is vetted by managers in one pass.
- Management spends more time analyzing data — not sorting through it.
- A complete, modern, unified system, created for today’s hospital, health system, and physician group finance challenges.
- 40 automated quality checks to ensure your data comes in clean, right from the start.
- From Capital Planning to Labor Productivity to Operational Budgeting all our modules speak the same language; use the same data and deliver unified, honest results.