Nuance to Guide Financial Leaders on the Power of Cloud-based Analytics to Solve Healthcare’s Most Pressing Challenges
Company to lead in-depth experiential learning track on utilizing real-time analytics to improve outcomes, patient experience and increase productivity at the 2019 HFMA Annual Conference
BURLINGTON, MA – June 20, 2019 – Nuance Communications, Inc. (NASDAQ: NUAN), an industry-leading provider of AI-powered solutions, will host a full day experiential learning track for leading healthcare systems executives, “Business Intelligence, Data Management and Return on Analytics,” at the Healthcare Financial Management Association (HFMA) Annual Conference in Orlando, Fla., June 24, 2019. The track will educate a cohort of attendees on how to capitalize on the right data to boost physician engagement, unlock the full value of claims-data sets for value-based contract negotiation and create an analytics ecosystem to drive performance.
Healthcare as a whole is at a critical juncture: spending continues to skyrocket, burnout has been coined an official medical diagnosis, and organizations are failing to optimize the costly technology in which they have invested. The industry is begging for a solution to make healthcare work as it should, and with the role of the CFO evolving to have more of a strategic focus on data analytics, emphasis must be placed on education for organizations to make data more actionable in order to thrive financially and clinically. A recent Black Book research study reinforced the fact that analytics should play a critical role in the decision-making process at hospitals and health systems. The study highlighted cost control as the top concern for every healthcare leader including CFOs, who are leaning more into the technology and innovation realms than ever before.
“The healthcare industry is experiencing a monumental shift on the analytics front, and CFOs and others in the financial departments of health systems are looking to better understand the nuts and bolts of Big Data in optimizing performance, driving ROI, and helping to reduce burnout,” said Michael Clark, senior vice president and general manager, Nuance Communications. “There is a demand for actionable insights in healthcare and real-time financial metrics to extract value for organizations and, as a company, we’re committed to advancing our analytical platform and self-service dashboard to help organizations and clinicians thrive now and in the future.”
According to healthcare consulting firm Kaufman Hall’s 2019 CFO Outlook: Healthcare report, 96 percent of healthcare CFOs think that their organizations should be doing more to leverage financial and operational data to inform strategic decisions initiatives, and 94 percent said they have experienced increased pressure to have greater insight into how financial results impact business strategy. And with more than 60 percent of CFOs looking to create better dashboards and visualizations, pulling data in from multiple sources into a single report, organizations like HFMA are doubling down to include conference sessions that provide tangible takeaways for CFOs and financial leaders to help improve enterprise performance management for their organizations.
The Nuance HFMA cohort will include participation from industry leaders Halifax Health, Regional Health, Carilion Clinic, and Partners Healthcare, who will share analytics best practices surrounding their documentation and Electronic Health Record (EHR) optimization initiatives. In addition, the session track will feature a unique, interactive working session where CFOs can dig into national benchmarking of peer hospitals and real-time analytics such as risk of mortality, severity of illness, readmission rates, and Case Mix Index to learn how to improve the performance of their clinical documentation excellence programs and EHR with actionable solutions.
“We needed to utilize analytics to improve the time-to-value for our EHR investment,” said Stephanie Lahr, MD, CHCIO, chief information officer and chief medical information officer, Regional Health. “After working with Nuance to better understand our approach to analytics in the EHR, we underwent a significant transformation and will be incorporating AI and data analytics to identify health patterns in patient populations where opportunities for personalized interventions didn’t exist before.”
To learn more about the cloud-based analytics platform Nuance healthcare solutions are built on and the impact on providers and their care teams, please visit booth #859 or attend the sessions below:
Monday, June 24
• 10:00-11:15amET: Using analytics to optimize the EHR, with Michael Clark, senior vice president and general manager, Nuance; Stephanie Lahr, MD, CHCIO, chief information officer and chief medical information officer, Regional Health; Stephen Morgan, MD, senior vice president and chief medical information officer, Health Analytics and Clinical Informatics, Carilion Clinic; Christopher Holland, HCMBA, User Experience manager, Clinical Strategy and Innovation, Partners HealthCare
• 1:30-2:30pmET: Using AI-powered documentation to prioritize patient encounters, with Anthony Oliva, DO, vice president and chief medical officer, Nuance; Tom Stafford, vice president and chief information officer, Halifax Health
• 2:45-3:45pmET: Using analytics to improve documentation performance, with Michael Clark, senior vice president and general manager, Nuance; Anthony Oliva, DO, vice president and chief medical officer, Nuance
About Nuance Healthcare
Nuance provides intelligent systems that support a more natural and insightful approach to clinical documentation, freeing clinicians to spend more time caring for patients. Nuance healthcare solutions capture, improve and communicate more than 300 million patient stories each year, helping more than 500,000 clinicians in 10,000 global healthcare organizations to drive meaningful clinical and financial outcomes. Nuance’s award-winning clinical speech recognition, medical transcription, CDI, coding, quality and medical imaging solutions provide a more complete and accurate view of patient care.
About Nuance Communications, Inc.
Nuance Communications, Inc. (NASDAQ: NUAN) is the pioneer and leader in conversational AI innovations that bring intelligence to everyday work and life. The company delivers solutions that can understand, analyze and respond to human language to increase productivity and amplify human intelligence. With decades of domain and artificial intelligence expertise, Nuance works with thousands of organizations – in global industries that include healthcare, telecommunications, automotive, financial services, and retail – to create stronger relationships and better experiences for their customers and workforce. For more information, please visit www.nuance.com.
Trademark reference: Nuance and the Nuance logo are registered trademarks or trademarks of Nuance Communications, Inc. or its affiliates in the United States and/or other countries. All other trademarks referenced herein are the property of their respective owners.
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Senior Manager, Corporate Communications – Healthcare
Nuance Communications, Inc.
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