This last year brought many macroeconomic pressures on our clients, from high inflation levels, high-interest rates, and a tight labor market, to the lingering impact of the COVID-19 pandemic. We recognize that healthcare organizations are facing heavy financial strain – and we are committed to meeting them where they are, driving near-time financial ROI and cost savings, and, ultimately, striving to be an ideal long-term partner committed to our clients’ success.
Over the past several months, I have had the opportunity to visit face-to-face with C-suite leaders from most of our largest clients, to listen to their concerns and challenges, and to brainstorm together the ways Health Catalyst can be of greatest help. Together, we have recognized the need to prioritize three portfolio offerings that can alleviate near-term financial pressure, namely Tech-Enabled Management Services (TEMS), the Financial Empowerment suite, and components of our Population Health Management suite.
TEMS is currently the Health Catalyst solution with the highest need and interest among our clients. We currently offer this solution in two main functional areas: chart abstraction and core analytics. This robust demand comes as health systems have seen increasingly significant pressure related to their labor expenses, which comprise well over half of their operating expenses.
Additionally, our Financial Empowerment suite, including our PowerCosting™ and PowerLabor™ solutions, has proven effective in helping healthcare systems manage the cost of care across the continuum, predict and manage patient volume, and improve resource scheduling by providing a comprehensive view of a system’s labor data.
Similarly, healthcare organizations have expressed increased interest in insight and guidance for short-term success in value-based care. Because of this, some elements of our Population Heath Suite have helped data-driven organizations looking to better understand their financial risk. We’re encouraged by the outcomes and progress we see as we work to deepen our relationships with our clients.
I will be at HIMSS23 and look forward to meeting with our clients in person to discuss how we can continue to be a strong supporter and long-term partner. I am optimistic about the future and look forward to the meaningful achievements we will all accomplish together
Health Catalyst is proud to be your partner for proven outcomes. Visit our HIMSS site to learn about the opportunities to connect with us at the show. You can also submit a form to schedule a meeting with a Health Catalyst leader or subject matter expert.
Be sure to visit Health Catalyst at Booth #2812 and the patient engagement 365 pavilion at Kiosk #8300-05. See you in Chicago!