A Business Intelligence (BI) framework must be practical for the mid-sized company (like most LTC Pharmacies) to draw upon the BI concepts used in larger companies. I was a member of a project where the CEO dictated that all data be consolidated into a single enterprise data warehouse and this data be the source for all reporting. This experience has demonstrated to me that LTC Pharmacies should develop a clear set of BI goals and they may include:
All company information is needed to optimize the company’s business intelligence investment; however same-day delivery activity (as observed from our auditing of courier invoices) is not included in a LTC Pharmacy’s database. Our Courier Auditing Services transforms the each courier delivery into usable data that exponentially adds value to Business Intelligence tools.
Same-day delivery activity completes the database and enables to LTC Pharmacy to establish a reliable framework for analyzing the LTC Pharmacy prescription transactions. Their Business Intelligence Framework should address the following requirements:
Business Intelligence Framework
Delivery data is critical to predictive behavior analytics due to it being the last touch of the customer. Companies that integrate pickup time, delivery time, deliver type, recipient title, origination, destination, housing type (Skilled Nursing, Assisted Living, Independent, and Hospice), basic and accessorial costs into their data-mining tools have distinct advantage to increase revenue, improve service, optimize costs, and care for patients.
It is often difficult for data-miners to communicate the value of enterprise data when important segments are missing or contain little value. One technique is to list the measures that can be reported by a centralized same-day delivery data source. The following is a partial list of measures which can aid LTC Pharmacies in the management of same-day delivery operations:
The value for a same-day delivery database increases exponentially when its delivery activity is integrated into enterprise data stores. Same-day deliveries integrates delivery costs with operational, sales, finance and marketing data. This complete view of the business enables the LTC Pharmacy to identify facility outliers, performance gaps, profitable housing types, or even identify programs that can reduce same day delivery activity.
LTC Pharmacy executives track their top 10 Facilities and drive their revenue and costs; but I have found that some of the bottom 50% of are capable of being top performers. However, time and resource limitations, prevents management from analyzing these low performers. Business Intelligence tools allow managers to increase the number of Facilities that they can manage.
Supply Chain Finance has seen the benefits that comes from integration of same-day delivery data into enterprise data warehouses and we encourage LTC Pharmacies to visualize a future state for their enterprise data and enhance patient care. We advocate the following goals for LTC Pharmacy analysis:
Each LTC Pharmacy has its own business model and this makes it difficult to quantify exact ROI. Supply Chain Finance has worked with companies to identify opportunities and determine ROI benefits. The following are the general benefits that LTC pharmacies can expect from a centralized database.
Benefits to Business Intelligence