Lancet Lands Business Intelligence Contract with Facey Medical

Engagement will help streamline data access, storage, analytics and reporting

MINNEAPOLIS--(BUSINESS WIRE)-- LancetHealth, a provider of business intelligence design, analysis and implementation services for healthcare organizations, announces a new engagement to provide data analysis and business intelligence consulting services to Facey Medical Group, one of Southern California's oldest multi-specialty medical group with more than 150 providers in 12 locations. The project includes a focus on streamlining the practice’s currently labor-intensive processes to extrapolate data from various sources and to provide reports to key internal constituents.

“As regulatory requirements become increasingly complex, we face demands to generate a significant volume of more complex reports,” says Jim Corwin, CFO of Facey. “We have multiple data sources with large data sets that we want to integrate to provide better information throughout our organization. Business intelligence tools will allow for more complex business analysis, providing opportunities to improve performance, manage cost and provide better overall care. The scalability of our current reporting environment is strained. With regulatory pressures bearing down, we’ve chosen Lancet to help make data capture, storage and analytics more meaningful to our organization. We will make data more readily available and enable various people in our organization to generate their own reports in little time and with little effort.”

Laura Madsen, Lancet’s healthcare practice leader, says “Data from the organization’s practice management system is not readily accessible or intuitively meaningful. Each time they create a new view of their data, they create an incredible amount of replication and very few relationships. This is typical in medical practices today. Yet with initiatives such as Meaningful Use and bundled payment models, providers must report on both quantitative and qualitative measures. This sets healthcare BI apart from other industries. Healthcare data, especially clinical data, can be subjective. It is fragmented and often incomplete -- making analysis and knowledge distillation an ongoing issue. The High Tech Act and Meaningful Use have created a perfect storm for healthcare BI.”

According to Madsen, Lancet’s work will involve analysis of existing data, recommendations for data storage, structures and analytics and new approaches with dashboards and reporting. With basic approaches such as data modeling and ETL (extract, transfer and load), Facey will be able to produce reports that bring value to clinical, administrative and financial decision-makers, says Madsen. “We will put a solid foundation in place so that data can be used to make improvements to help their bottom line and also to drive new initiatives that improve the quality of care they deliver to patients,” Madsen says.

ABOUT LANCET, ABOUT LAURA MADSEN
Minneapolis-based Lancet Software consistently provides high-quality business intelligence (BI) design, analysis and implementation services across industry sectors including retailing, manufacturing, finance and healthcare. The company’s LancetHealth division helps healthcare providers, payers and manufacturers to maximize return on data with healthcare-specific BI consulting to enhance efficiency, strategic decision-making, regulatory compliance, and revenue cycle management. Laura Madsen is the leader for LancetHealth. She is a 15-year veteran of healthcare BI, having served as Director of BI at a pharmacy benefit management company and at United Health Group, where she managed a BI tool suite. She frequently presents and writes on healthcare BI and is a founder of the Healthcare Business Intelligence Summit. More at: www.lancethealth.com



CONTACT:

PR Counsel for Lancet
Beth Strohbusch, 414-213-8818
Email: [email protected]

KEYWORDS:   United States  North America  Minnesota

INDUSTRY KEYWORDS:   Technology  Data Management  Networks  Software  Practice Management  Health

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