SimiTree Introduces New Data Analytics Program for Hospice and Home Health
SimiTree, a revenue cycle, coding, professional services and talent management resource for post-acute and behavioral health organizations, has introduced a new data analytics program for home health and hospice companies looking to solidify or grow their market position.
The Market Analysis Platform (MAP) is designed to provide access to data that allows clients to effortlessly assess market share, referral patterns, and competitors, according to SimiTree Managing Principal, David Berman, CPA, CGMA, CVA.
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“Companies are feeling the squeeze in terms of profit margins,” he said, “and in response, many are looking to expand their service area or increase their market share, overall or with specific patient groups or referral sources.”
Berman went on to point out that growth can be accelerated with a thoughtful, informed strategy, fueled by data that identifies potential sources of new referrals, reveals market observations that can lead to more successful positioning, and provides information on individual organizations that may be key competitors or possible acquisition targets.
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“We wanted to bring this knowledge to our clients, so we leveraged our consulting experience to develop a flexible and intuitive system coupled with content support,” he continued. “The Market Analysis Platform presents thorough research for data-driven decision-making.”
“With MAP, you can easily quantify your own position—market share and how it’s changed over time, strength with key referral partners relative to other agencies—and easily identify and understand other providers—market strength, quality scores, service area, changes in revenue, referral partners, and more,” he said.
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