Members co-developed a novel tech solution to assess activity-based costs in a clinical setting. This proof-of-concept (PoC) tool captures and structures the clinical conversation, offering granular insights to C- Suites on their biggest cost driver.
This was in response to the ongoing challenge of managing the time that providers spend doing extraneous work versus actually practicing medicine. C-Suite’s at health care providers can track hard costs (ie, bandages, syringes), but lack a good way to track a major variable expense: where their employees are spending time.
The final solution produced was an analytics technology that has multiple real world applications for clinicians & administrators who want to improve their care delivery and business operations.
Members benefitted from the project by walking away with technology that addressed their acute market needs with greater accuracy and lower expenses than existing solutions. This piece of technology provided:
- Insight into Costs
- Automated Quality Metric Tracking
- Improved Billing Accuracy
Pooling together resources allowed risk to be dispersed across the cluster, which not only removed a major risk barrier but also allowed there to be enormous hard cost savings.
Additionally, by participating in this cluster project members were able to develop warm working relationships with not only each other, but also outside vendors.
NUMBER OF PARTNERS
REDUCTION IN LAUNCH TIME