EPSi, Allscripts’ flagship budgeting, planning/forecasting, cost accounting and financial decision support platform, announced the release of its COVID-19 Planning Analytics tool. Initially, the tool will be made available to EPSi’s 1,000+ hospital clients at no cost. The COVID-19 Planning Analytics tool includes five independent analyses focused on answering the tough questions being asked by health system leaders across the country – When will we run out of ICU capacity? What is the financial burden of COVID and how does this change with duration? When can I resume elective procedures? How much do I need to reduce costs in my remaining budget to return to baseline?
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“The first version we released focuses on 5 key themes: ”
“When we heard that many of our clients were struggling trying to respond to the unprecedented challenges they faced with the COVID-19 pandemic, we partnered with a group of strategic finance and operations leaders in our client base to discuss their analytic requirements and quickly realized there were no off the shelf products that met their needs,” said Ralph Keiser, CEO of EPSi. “Through several weeks of interactive discussion and design, our team created a series of analytic dashboards to enable users to model the impact of COVID-19 to their patient population, as well as the financial and operational impact to their organization.”
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“In partnership with our clients, we rapidly designed and rolled out several iterations of the tool,” said Ryan Self, Vice President of Professional Services at EPSi. “The first version we released focuses on 5 key themes:
- Current Market Insights – Provides state and county level detail into current COVID-19 cases and deaths, changes over time, and frequency indexed by populous. Also enables the ability to compare growth rates between states, normalized to ‘Day 1’ along with analyze volume and growth rate changes based upon various time periods.
- Case Projections – Leverage multiple forecasting techniques to model out COVID-19 cases, admissions, and patient days by accommodation code. Compare results against bed capacity to determine shortages by accommodation code along with anticipated dates in which capacity is restored to backfill the beds and begin the road to revenue recovery.
- Financial Planning – Project out daily NPSR, cash, expense burn, and ultimately margin for insights into the financial impacts and ramifications of COVID-19 cases.
- Operational Planning – Similarly, project out daily staffing, vent, and PPE needs to ensure adequate planning and resource availability before the surge.
- Arc of the Possible – Study the ‘Arc of the Possible’ to understand the effort required to bring the health system back to financial recovery and the appropriate balance of energy between expense reduction with margin growth efforts.”
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