Insight for Hospital Management
IntelliMax is a hospital-specific, intelligent and intuitive cost and supply chain management system, powered by Cortell’s ValuMax costing engine.
IntelliMax is a leading edge, data-driven decision and strategic planning tool for hospital managers and executives to make better, more informed decisions about resource utilization and consumption, service lines, facility acquisitions, supply chain management, contracts, physicians, and DRGs in terms of both quality and financial implications.
It creates an efficient, comprehensive, single source for tracking and measuring performance. The result? Executives are better informed and equipped to improve quality of care while improving their bottom line.
Focus on Patient Value
On the forefront of solutions geared towards the new era of consumerism, IntelliMax is heavily patient-centric, providing valuable insight into the cost-to-serve patients, behavior and resource consumption patterns, patient satisfaction, and quality of care.
For case managers, IntelliMax allows evaluation of best practices against financial implications, through established financial protocols, for benchmarking and review of outliers.
Additionally, IntelliMax provides a comprehensive spend analysis by vendor and clinician to enable hospitals to establish the most efficient procurement and supply chain management processes for high cost supplies such as implants and pharmaceuticals.
IntelliMax spans the following functional areas:
· Profitability (drill down from hospital to patient)
· Financial protocols (develop financial and matching clinical protocols)
· Capacity (measurement and utilization)
· Quality and outcomes (analysis)
· Productivity (generates measurement of common productivity metrics)
· Revenue (modeling and analysis)
· Analytics (cube views and benchmarking capabilities)
· Supply Chain Mangement
· Administrative (user management)
IntelliMax includes a powerful, costing system that provides cost and profitability analytics by:
· Patient case
· Interim products
· Patient market segment
IntelliMax is a Web-based, customizable product that requires minimal IT support. Although it incorporates sophisticated, complex technologies, IntelliMax is designed for ease of use by health care business managers.
The product provides the technology to easily detect and understand problems, and the strategy to tackle issues and challenges for better outcomes. Users are empowered with a 30,000-foot view of the enterprise and the ability to drill into problem areas for better understanding and decision making. Cortell Health offers flexible “acquisition models” to fit the business challenges of today’s health care providers.
Click here for more performance framework information
Both methods (RVUs and RCCs) are highly flawed. CFOs who use either of these methods to ascertain the full cost of an intermediate product are making a mistake that can have serious financial consequences for their institutions. (The Folly of Using RCCs and RVUs for Intermediate Product Costing, HFMA Magazine, April 2007, David W. Young)