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Healthcare Business Intelligence
Software Features, Costs, and ROI
Since 2005, ScienceSoft has been helping health facilities implement reliable and user-friendly BI solutions that streamline decision-making, optimize operational costs, and improve the delivery of value-based care.
Healthcare Business Intelligence: The Essence
Healthcare BI solutions securely consolidate multi-source healthcare data into a single point of truth and turn it into insightful reports and dashboards. Business intelligence in healthcare enables providers to see and interpret the trends in their care quality, internal operations, staff performance, and financial management.
- Implementation time: from 2–6 months.
- Implementation costs: $100,000–$1,250,000, depending on software complexity. Use our free online calculator to estimate the cost for your case.
- Integrations: EHR/EMR, accounting software, claims management software, healthcare CRM.
- ROI: up to 350%.
Key Features of a Healthcare BI Solution
Below, ScienceSoft’s experts outline the software capabilities most commonly requested by our clients who implement business intelligence in hospitals and other healthcare institutions.
Patient, treatment, and health outcomes intelligence
- Automated tracking of treatment- and outcomes-related KPIs (e.g., time to diagnosis, length of stay, readmission and mortality rates).
- Automated segmentation of patients and outcomes (e.g., by demographics, condition, physician, facility).
- Identification of trends and dependencies between health outcomes and variables like patient demographics, treatment history, and preventive care measures.
Operational intelligence
- Monitoring KPIs for managing labs, facilities, scheduling, staffing, equipment, and more (e.g., bed occupancy rate, equipment utilization, inventory turnover, test turnaround time).
- Identification of operational bottlenecks (e.g., long ER wait times) and root cause detection.
- Forecasting of operational capacity and resource availability based on historical data or AI-powered predictions.
- Process optimization recommendations (e.g., for shift scheduling, equipment distribution) based on the detected process bottlenecks and forecasted load.
Patient engagement intelligence
- Monitoring of patient engagement metrics (e.g., appointment attendance rates, patient loyalty, patient portal utilization).
- Sentiment analysis of patient feedback and online reviews to gauge patient satisfaction and identify areas for improvement.
- Identifying trends and dependencies between patient engagement activities and their influence on attendance rates, patient loyalty, etc.
Costs intelligence
- Tracking cost metrics across diverse expenditure items (e.g., personnel, equipment, facility costs).
- Automated cost segmentation (e.g., per facility, department, episode, patient).
- Alerts on budget variance and high-cost patients.
- Identifying dependencies between costs and multiple variables such as reimbursement policies, health outcomes, and treatment history.
- Budget forecasting.
Cash flow intelligence
- Monitoring of cash flow KPIs (e.g., cash flow margin, return on equity, net patient revenue).
- Automated segmentation of cash flow data (e.g., outstanding payments by department, condition).
- Spotting dependencies between cash flow metrics and other factors, such as reimbursement policy or supplier change.
- Cash flow forecasting.
Claims management intelligence
- Tracking of claims metrics (e.g., average time to payment, cost per claim, average claim processing time, claim denial rate).
- Automated claims segmentation (e.g., by patient demographics, department, rejection reason).
- Automated identification of fraudulent claims (e.g., multiple claims for the same procedure) with instant alerts.
Healthcare data processing & storage
- Automated data ingestion from several sources (e.g., EHR, financial software, patient portal).
- ETL pipelines for automated data cleansing and aggregation into a data warehouse.
- Secure data storage and transfer mechanisms compliant with HIPAA, GDPR, and other applicable regulations.
Healthcare data visualization and reporting
- Presenting analytics insights through easy-to-navigate, dynamic reports and dashboards.
- Data exploration with filtering, slicing, dicing, and up-and-down drilling capabilities.
- UI customized to particular user roles (e.g., clinical and financial analysts, executives) and adapted for secure collaborative use.
- Capabilities for ad-hoc data querying.
Essential Integrations for a Healthcare BI Solution
- To enable multi-dimensional patient segmentation.
- To gather and analyze customer feedback and create tailored strategies for patient retention.
- To timely identify fraudulent claims.
- To enhance claims visibility, minimize processing delays, and reduce denial rates.
- To optimize asset utilization and improve inventory management.
- To optimize medication distribution and avoid medication shortages or over-ordering.
- To enable preventive equipment maintenance.
Revenue cycle management software (RCM)
- To optimize cash flow management.
- To track revenue cycles and identify opportunities for revenue optimization.
- To enhance staff recruitment and retention strategies.
- To improve staff performance and optimize scheduling.
Check the Examples of Insights You Can Get with Healthcare BI
Highlights of ScienceSoft's Healthcare BI Portfolio
Healthcare BI Implementation Costs
The cost of healthcare BI implementation varies from $100,000 to $1,250,000*, depending on the solution's complexity. It is determined by data diversity, the number of integrations, the need for advanced AI/ML-powered analytics capabilities, and more.
$100,000–$250,000
A basic solution that:
- Integrates with up to 5 internal data sources (e.g., EHR, CRM).
- Enables KPI calculation across 1-2 areas of healthcare business (e.g., treatment and health outcomes).
- Enables single-dimension data segmentation, and rule-based analytics.
- Supports scheduled reporting (e.g., every 12 hours) via market-available tools like Power BI and Tableau.
$250,000–$500,000
A solution of medium complexity that:
- Integrates with any number of internal data sources.
- Enables KPI calculation across multiple analytics areas.
- Features ML/AI-supported analytics (e.g., detecting root causes of ER inefficiencies, providing cash flow forecasts).
- Supports both scheduled and ad hoc reporting via market-available tools like Power BI and Tableau.
$500,000–$1,250,000
An advanced solution that:
- Integrates with internal and external data sources, including several same-type sources (e.g., CRMs of different divisions).
- Supports regional specifics (e.g., addresses differences in currencies and taxation systems during reports creation).
- Enables multi-dimensional data segmentation and advanced ML/AI-powered analytics.
- Enables real-time analytics (e.g., for fraudulent claims detection).
- Has custom visualization modules to go beyond market-available BI tools.
Get a Free Cost Estimate for Your Healthcare BI Solution
Want to know how much healthcare BI will cost in your case? Answer a few simple questions, and we will provide a custom quote.
*Software license fees are not included.
Data Investments Bring Tangible Business Improvements
According to the 2024 Data and AI Leadership Executive Survey, 87% of the respondents across 100+ organizations agree that data analytics initiatives drive measurable business value. The survey's participants include 10+ large healthcare businesses, including such market leaders as Pfizer, Mayo Clinic, and UCLA Health.
Get Professional Assistance with Your Healthcare BI Initiative
Consulting on healthcare BI
We can design a cost-effective BI solution for your organization or assist in upgrading your existing analytics system. You'll get a detailed project roadmap, cost and time estimates, and an optimal tool set to avoid unnecessary risks and implement a tailored BI solution.
Implementation of healthcare BI
We are ready to design and implement a healthcare BI solution of any complexity, including custom software modules and integrations with your legacy software. We will deliver fully compliant system documentation and provide training for your team to ensure high user adoption.
About ScienceSoft
ScienceSoft is an IT consulting and software development company headquartered in McKinney, Texas. Since 2005, we've been rendering end-to-end BI services, including BI consulting and implementation, and deliver user-friendly analytics software to help healthcare organizations increase their operational efficiency and comply with industry regulations. Holding ISO 9001 and ISO 27001 certifications, we can guarantee the high quality of BI software and full security of our clients' data.