ROI of Service Analytics – Financial Benefits

Puneet Pandit

DOA: Reactive Maintenance is Dead on Arrival

Every business transformation is fueled by data-driven insight – it is the single most significant competitive advantage you can control. Analytics has evolved enabling us to get from what happened yesterday, to what is happening now, to what is happening next. The future promise of analytics is creating a better outcome based on what you want to see occur and even automatically executing that action for you. Analytics are turning insight into action.

Glassbeam addresses Healthcare Industry Challenges

Patient satisfaction reigns supreme in the current era of outcome-based healthcare. This quest to increase patient satisfaction is forcing healthcare providers to improve operational efficiencies, reduce patient revisits and reschedules, understand referral leakage and maximize utilization of all resources – machine and human. Machines create data to track metrics. Unfortunately, the data and resources trained to interpret the data are siloed.

Most clinical engineering and imaging operations lack of visibility and predictability into machine performance, equipment utilization and referral patterns drive a high degree of reactivity. Equipment failures cause downtime that eventually impacts the patient. Diagnostic imaging is one area that benefits from consolidating the data from a diverse array of equipment and then analyzing the data to predict failures and create proactive programs to equipment failures.

While many original equipment manufacturers (OEMs) offer the ability to centrally manage their machines in your facilities, the cost and limitations of these programs is DOA. In addition, these OEM solutions are largely focused on their specific modalities to help them manage only their fleet of machines. In contrast, today, organizations need to manage uptime and utilization from a centralized console, as a fleet-wide view, across all OEMs and Modalities, and most importantly benefit from data collected from multiple end points to anticipate and prepare for failures. This is the future.

Glassbeam Clinsights solution disrupts this paradigm by offering advance analytics on multiple data sources at massive scale, powered by rules, AI and ML algorithms, providing richer analytics to improve the delivery of care. Operations are improved and performance is managed to lower costs while improving patient outcomes.

Some of the key Customer challenges addressed by Glassbeam include:

  • 83% of providers claim to have no automated visibility into fleet wide utilization
  • 95% of clinical engineers experience 60-70 hours downtime per machine per year
  • 43% of providers are facing over 10% revenue leakage from their patient referral networks

Business Impact and ROI

Glassbeam not only effectively improves staff productivity, but also generates significant revenue enhancements through improved tactical customer facing service and account operations and strategic product management and portfolio optimization. When this value is multiplied across the organization the payback can be huge.

As an example, by providing predictive insights to nudge proactive client behavior, our solution can help recover $3.4 Million* in revenues and $1.3 Million* in support cost savings by deploying Glassbeam solution in the cloud.

*3-year financial projections based on a facility with 5 MRI and 5 CT scanners

Clinsights positively impacts all parts of the healthcare value equation. As patient requirements increase and costs escalate, Clinsights enables you to leverage AI/ML to manage your entire fleet of medical machines as a single pane of glass. The impact of AI and ML powered data analytics allows you to:

  • Reduce operating costs
  • Improve clinical outcomes
  • Pursue revenue growth
  • Improve the overall patient experience

Better engagement helps the organization look and act professional, increases customer satisfaction metrics, and lowers support cost. Our users report that they are more efficient at their jobs on recurring internal tasks, but also on highly visible, critical tasks like time to identify and resolve issues. Getting the whole organization to share the same big picture can be, as they say, ‘priceless’.

Schedule your personalized demo to see the impact of clinsights using your own data.