Travis Leonardi, CEO
Five years ago, Three Rivers Health—a southwest Michigan-based, multi-specialty, community-owned, non-profit regional medical center—faced a major financial crisis. They were operating in the red and lacked visibility and insights to properly diagnose and address their challenges. In addition, Three Rivers was experiencing changes in utilization and payer mix, along with an influx of Medicaid patients who sought urgent and non-urgent care in the emergency department. They relied heavily on manual processes and extensive spreadsheets to understand the costs of delivering care and managing labor. Sentry’s Agilum analytics solutions were instrumental in helping turn Three Rivers’ finances around.
“Agilum provides organizations with the foundational cost accounting and decision support needed to survive in today’s ever-changing healthcare environment,” explains Travis Leonardi, CEO of Sentry Data Systems. “Our goal is to enable our clients to flourish by providing them with an analytics platform that truly impacts the total cost and quality of care.”
Based in Deerfield Beach, FL, Sentry is a pioneer in automated pharmacy procurement, utilization management, and 340B compliance, and utilizes advanced data analytics to reduce total cost of care, improve quality, and provide better outcomes. More than 9,800 hospitals, clinics, Integrated Delivery Networks (IDNs), and pharmacies across the country rely on Sentry’s unique proprietary data set for their analytics, procurement, drug utilization, and compliance solutions.
According to Leonardi, with the industry shift from fee-for-service to value-based care, healthcare organizations have to understand their true cost in order to take on future risks via bundled payments or ACO arrangements. “Our Agilum solutions provide not only the financial transparency needed to understand true cost, but also the checks and balances on payors.”
Our revolutionary, real-time patient data intelligence platform is transforming the way the healthcare industry leverages data
Through the Agilum service line costing and profitability module, clients can merge data from their patient accounting (billing) system with actual costs from their general ledger accounting system. The resulting financial information is grouped into service lines based on Inpatient DRGs and Outpatient Principal Diagnosis. With this data, the client is able to see the full picture of expected net revenue, cost and net margin within each service line, allowing quick and directional guidance to help identify outliers and determine which service lines are affecting margin.
On the other hand, Sentry’s Agilum revenue cycle tool keeps an active view on accounts receivable, including days in A/R, aging trends by financial class, and adjustment (contractual allowance) trends. “We also offer a daily monitoring of charge activity by cost center in the form of daily indicators. These KPIs are monitored against budget information and emailed to the client on a daily basis so that there can be continuous visibility of the data leading to proactive decision making,” adds Leonardi.
The engine behind the Agilum solutions, Sentry’s proprietary Patient Data Intelligence Platform (PDIP), enables health systems, big pharma, and insurance payors to deploy enterprise-wide comparative rapid-cycle analytics that yield actionable information to increase quality while reducing the total cost of care. “Our revolutionary, real-time patient data intelligence platform is transforming the way the healthcare industry leverages data,” he notes.
Looking ahead, Sentry continues to enhance their current product offering while deploying unique solutions to help their customers uncover disruptive new insights for hospital drug, purchasing, cost, utilization, and outcome patterns. “Our clients’ successes are unprecedented and our unique patient data intelligence platform is helping to drive improvements across the continuum of healthcare,” concludes Leonardi.