LeadingAge CAST has updated its Data Analytics Selection Tool for 2023. The tool, which helps aging-services organizations learn about and choose the best data analytics solutions for their needs, now includes updated information on 13 products.
The updated tool also includes two new vendors:
New Case Studies
Two new case studies share providers’ firsthand experiences in choosing and implementing technology solutions.
“Improving Decision Making, Accountability, and Productivity through Data Analytics”
At United Methodist Communities of New Jersey (UMC), a LeadingAge Provider Member, data was spread across multiple systems. As a result, leadership found it difficult to access the essential key performance indicators (KPIs) in real time and to make informed decisions promptly.
To create an AI-powered analytical platform at UMC, the NuAIg vendor team assessed the organization’s data from various lines of business, including stakeholders’ daily data needs. NuAIg then determined the key KPIs for each business function and created custom dashboards for each stakeholder. NuAIg is a LeadingAge Associate Business Partner with CAST Focus.
The project yielded improved decision-making capabilities, increased transparency, efficiency, productivity, and better data-driven insights. UMC now has insight into these KPIs and analyses:
- Historical occupancy trend analysis.
- Census analysis across service line.
- Trend analysis with respect to payer type.
- Invoice analysis.
- Accounts payable analysis.
- Budget vs. actual finance analysis.
- Revenue growth summary.
- Analysis of donations received.
Read the full case study.
“Real-Time Data Supports Business Decisions”
The leadership of life plan community Sequoia Living needed a way to easily gather key information like census and accounts receivable at its 10 buildings. The data would help them to effectively track trends, spot potential issues, and take action quickly.
The organization’s chief officers began using MatrixCare MyAnalytics about a year ago. MatrixCare by ResMed is a LeadingAge Silver Partner with CAST Focus.
Sequoia Living leaders have achieved time savings and clearer financial data. For example, when they receive funds from a location with a specific level of care, they can break it down to Medicare dollars, private pay dollars, etc. They no longer need to run reports and put that data into a spreadsheet to share it.
The breakdown by payer type provides a valuable mechanism to track where the money is coming from and to anticipate shortages, windfalls, and future trends. Sequoia Living plans to expand access this year to include more accountants, business office leaders, and other financial staff.
Access the updated Data Analytics Selection Tool for more information. This tool is one of nine CAST Technology Selection Tools that help you choose the right technologies for your organization’s specific needs.
Read the full case study.
Data Analytics Session at LeadingAge Leadership Summit
To learn more about data analytics, be sure to attend the LeadingAge Leadership Summit, April 17-19, 2023, at the Omni Shoreham Hotel in Washington, DC. CAST will sponsor four technology sessions, including the following:
Leveraging Data and Tools to Navigate Unprecedented Risk and Opportunity
Wednesday, April 19, 2023
11:00 a.m.- 12:30p.m.
This session will drive home the necessity of unlocking the right data to help you understand key industry trends and your own internal performance. It will also share tools to carry out better and faster decision-making.
Presenters will help you identify key insights, industry analytics, and diagnostic tools that are most relevant to the health of your organization. Learn how to establish decision-making processes that are rooted in data. Discover how this shift could improve organizational outcomes today while establishing a path for future success.
Speakers:
- Bill Bojan, Founder and CEO, Integrated Governance Solutions
- Michael Barbouche, Founder & CEO, Forward Health Group
- Kristin Jacobson, Interim CEO, Johnson Memorial Care Center
- Matt Johnson, Consultant, Integrated Governance Solutions
Don’t miss this invaluable summit. Register today!
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