Center of Excellence in Business Analytics

Orthopedics

Analytics in Orthopedics

Orthopedic service managers need to be aware of what is essential for their program to the next level of Excellence. In this new age of healthcare, to ensure sustainability, it is vital to improve quality and quantity, enhance patience experience, reduce cost and maximize profit. However, gathering big data and executing the analysis for this purpose can be a challenge for hospitals.

A recent study published in Health Affairs reported that orthopedic surgeons have little understanding of the true cost of orthopedic devices they implant, which can be drastically underestimated. This lack of accurate pricing clarity can cause huge cost waste of orthopedic devices.

To minimize the harm from these situations, we can use business intelligence and analytics to help track performance and point out the weaknesses in the hospital’s orthopedic billing practices with unnecessary spending by collecting and monitoring data. Pin-pointing the inefficiency helps increase the productivity and gives the tools and knowledge hospitals need to make better business choices. Analytics can help us define the business goals and objectives and to easily determine what is needed to do to meet the objectives.

Northern Indiana: The Orthopedic Capital of the World

Given the high concentration of companies in the medical devices industry in Warsaw, Indiana; this small city has been dubbed the Orthopedic Capital of the World. Watch this video from OrthoWorx to have an idea of the impact these companies have in the state and the country.

OrthoWorX: ADVANCING ORTHOPEDICS for generations to come.

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