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athenaOne

The athenaOne Suite which includes athenaCollector a revenue cycle management solution and athenaClinials an EHR (electronic health records) recently ranked #1 in 2023 Best in KLAS for athenaClinials Ambulatory EMR for 11-75 physi...Read more about athenaOne

3.8 (848 reviews)

418 recommendations

RXNT

RXNT’s cloud-based, ONC-certified medical software—Billing, Practice Management, EHR, and more—improves clinical outcomes & revenue cycle management. Simple, transparent pricing includes free setup and training, free data transfer...Read more about RXNT

4.3 (443 reviews)

334 recommendations

DrChrono

DrChrono’s iPad and iPhone compatible EHR and medical billing platform allows medical practices and healthcare providers to manage patient intake, patient care, clinical charting, billing and revenue cycle management. It includes ...Read more about DrChrono

4.0 (481 reviews)

289 recommendations

AdvancedMD EHR

AdvancedMD is a unified suite of software solutions designed for mental health, physical therapy and medical healthcare organizations and independent physician practices. Features include practice management, electronic health rec...Read more about AdvancedMD EHR

3.6 (453 reviews)

150 recommendations

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ChartLogic EHR

ChartLogic offers an ambulatory EHR suite that includes electronic medical record, practice management, revenue cycle management, e-prescribing and patient portal. The solution caters to primary care, surgical care and other compl...Read more about ChartLogic EHR

3.9 (62 reviews)

92 recommendations

Elation Health

Elation Health is the most trusted technology platform for high-value primary care. Since 2010, the company has delivered clinical-first solutions — built on a collaborative EHR platform — that help practices start, grow, communic...Read more about Elation Health

4.4 (52 reviews)

62 recommendations

Nextech EHR & PM

For more than 20 years, Nextech has provided a full-featured EMR and Practice Management solution within a single database. This system is a fit for dermatologists, plastic surgeons, ophthalmologists, and physicians, and is used b...Read more about Nextech EHR & PM

4.0 (206 reviews)

57 recommendations

ModMed

ModMed, also known as Modernizing Medicine®, is an award-winning software company that places doctors and patients at the center of care through an intelligent, specialty-specific cloud platform. Services include electronic health...Read more about ModMed

4.3 (171 reviews)

54 recommendations

Compulink Healthcare Solutions

Compulink Advantage is an all-in-one database EHR solution for specialty practices such as optometry, ophthalmology, orthopaedics, ENT, mental health, podiatry, and more. Available cloud-based or server, Advantage includes smart f...Read more about Compulink Healthcare Solutions

4.1 (283 reviews)

53 recommendations

AestheticsPro

AestheticsPro is a cloud-based, HIPAA compliant medical spa management software solution that offers staff and calendar management along with client management, a point-of-sale and marketing tools within a suite. The staff manage...Read more about AestheticsPro

4.4 (439 reviews)

50 recommendations

NextGen Office

NextGen Office is an award-winning, cloud-based, clinical and billing solution designed for smaller, independent practices (≤ 10 providers). This all-in-one, full-service solution includes specialty-specific EHR content, an easy-t...Read more about NextGen Office

4.0 (1264 reviews)

40 recommendations

Practice EHR

Practice EHR, a medical practice management software, was developed to accommodate the needs of small to mid-size businesses. The platform is customizable to internal medicine practices, chiropractors, physical therapists, family ...Read more about Practice EHR

4.3 (70 reviews)

35 recommendations

Vagaro

Vagaro is a cloud-based salon, spa and fitness business management solution that allows professionals to book appointments and manage various facility roles. It offers an integrated solution to manage bookkeeping, payroll, client ...Read more about Vagaro

4.7 (3378 reviews)

33 recommendations

PrognoCIS

PrognoCIS EHR and PrognoCIS Telemedicine have earned a reputation for fast, flexible individual provider workflow. The software package offers a full suite of highly desirable features and functions. PrognoCIS provides a cloud-bas...Read more about PrognoCIS

4.1 (288 reviews)

29 recommendations

Nexus EHR

Nexus EHR is an ONC Certified 2015 Edition Cures Update cloud-based ambulatory EHR and PM platform. It is designed for small to midsize practices and various specialties including orthopedics, neurology, podiatry, cardiology, gene...Read more about Nexus EHR

4.6 (9 reviews)

28 recommendations

zHealth

zHealth is an industry-leading, all-in-one chiropractic software with features - custom SOAP notes, integrated billing, scheduling & real-time phone support. The software comes with online appointment scheduling and unlimited rem...Read more about zHealth

4.6 (124 reviews)

26 recommendations

CharmHealth

CharmHealth is a MU certified, cloud-based EHR, Practice Management and Medical Billing solution that helps healthcare organizations ranging from large multi-specialty groups to small independent medical offices function efficient...Read more about CharmHealth

4.3 (131 reviews)

22 recommendations

HARMONY Medical

Harmony e/Notes is a hybrid integrated solution that offers functionalities for electronic medical records, practice management, billing and revenue cycle management. Specialities that the solution caters to include cardiology, ge...Read more about HARMONY Medical

4.5 (25 reviews)

21 recommendations

AllegianceMD

AllegianceMD is a cloud-based medical software system that is designed to serve the needs of small and midsize practices, as well as ambulatory surgery centers. The solution includes practice management functionality for billing a...Read more about AllegianceMD

4.3 (24 reviews)

21 recommendations

Valant EHR Suite

Valant’s Behavioral Health EHR and Practice Management Software includes all the tools you need to provide exceptional individual and group care while running a successful private practice. Unlike other non-specialized EMR softwa...Read more about Valant EHR Suite

4.1 (280 reviews)

20 recommendations

Buyers Guide

Last Updated: March 16, 2023

Practice analytics software, sometimes called health care analytics, is the point at which business intelligence and medical software (such as EHRs and practice management systems) meet—and it's a big deal these days.

Since the U.S. government mandated meaningful use of EHRs back in 2014, the widespread adoption of software systems in medical practices translates to availability of data on a massive scale. This is data that medical practices can use to improve in a number of areas.

Practice analytics software is the tool with which practices can collect and analyze that data, and this Buyer's Guide will help you understand exactly how it does that.

Here's what we'll cover:

What Is Practice Analytics Software?

Common Features of Practice Analytics Software

Benefits of Practice Analytics Software

How Is Practice Analytics Software Sold?

What Is Practice Analytics Software?

To understand data analytics specifically designed for the medical industry, let's first define data analytics in a more general sense:

Data analytics tools are a type of business intelligence software that allows users to collect and store data, quickly view that data—often in the form of charts and graphs—in dashboards and analyze the data to gain insights and make informed decisions.

Just as data analytics tools are typically considered part of a larger business intelligence system, many medical software providers incorporate analytics tools into existing, market-specific medical software to streamline data collection and offer solutions that are unique to physicians.

One big benefit of analytics software is its ability to collect different types of data, which can be incredibly useful for medical practices. For example, users can track things such as:

  • Key performance indicators (KPIs)

  • Revenue cycle and billing

  • Reimbursement rates

  • Patient intake

  • Patient surveys

  • Diagnostics and treatments

And the list goes on. By offering users the option to track different types of data, practice analytics software gives you the ability to gain deeper understanding of your business from different perspectives. Let's say you want to learn more about your patients. Using feedback left through patient surveys and information collected during patient intake, health care analytics software could help you do that.

Patient-data-dashboard-in-Datapine's-healthcare-analytics-tool

Patient data dashboard in Datapine's health care analytics tool

By customizing where data is gathered and what kind of data you're collecting, you can do the same thing to learn more about things such as where your money is going and how efficient your business processes are. From there, you can make changes or set goals for your practice to grow and improve.

Common Features of Practice Analytics Software

Practice analytics software tends to have a lot of the same basic features as more general data analytics tools, in addition to medical-specific capabilities. Here are some of the most essential features of practice analytics software:

Dashboards

The control center for analytics tools. Dashboards let you see all of the data collected and presented in visual, easily digestible and interactive graphics.

Data collection and storage

Practice analytics tools often integrate with existing systems (practice management, patient scheduling, EHRs, patient engagement etc.). By connecting analytics tools to all of these systems, you expand the sources from which information can be gathered.

Data set creation

Allows managers to create controlled data sets from the larger body of existing data. This is useful for things such as creating randomized samples, aggregating data or scrubbing entries.

Querying and reporting

Allows users to interact with the data by "asking" questions. The analysis tools are then able to answer the query in the form of a report.

Predictive analysis

Using algorithms or other mathematical models, analytics tools can observe a data set and produce a forecast of future events. For example, you can use predictive analysis to assess past accounting information in order to predict budgeting and spending in the upcoming month, quarter or year.

Sharing

Collaboration among team members is important for creating dynamic solutions, so practice analytics software systems facilitate the sharing of data and analysis among designated users.

Benefits of Practice Analytics Software

We've already covered one major benefit of practice analytics software: the ability to collect information related to a variety of business areas. But, that's hardly the only—or even the biggest—advantage of this software. Here are a few of the major benefits of practice analytics software:

Making decisions will be so much easier. If you've ever agonized over a business decision, you're not alone. It's tough to decide when to spend money, what services to offer patients, who to hire and how to run your team—but making these decisions is imperative if you want your practice to stay open. And, if you have access to data-based insights for every aspect of your practice, making those decisions is a lot easier. Practice analytics software provides those insights in the form of predictive analysis and other reports.

Access to larger medical databases and predictive algorithms makes diagnosing easier and more accurate. Physicians can use "smart" algorithms that take national—or even global—diagnostic data into consideration to help decide what's causing presenting symptoms and how they should be treated.

Tracking KPIs and benchmarking help practices improve overall. Competing with yourself is a phenomenal way to motivate and obtain goals, and benchmarking is the practice analytics way of doing that. By being able to review past performance, set goals for future performance and track current performance against those benchmarks, users gain valuable insight into what they're doing right and what they need to focus on more.

Physicians can improve performance and therefore patient satisfaction. Accessing patient reviews, physician diagnoses and treatments and patient outcomes provides a broad, overarching view of everything that makes up physician performance. Seeing it all compiled can reveal areas where physicians excel, as well as those that need work.

How Is Practice Analytics Software Sold?

Because health care analytics is a combination of several different types of software, physicians have a handful of options when it comes to purchasing.

If you're a smaller practice that's just beginning to explore your data analytics options, you may opt for a stand-alone software system that only provides analytics. These tend to be less expensive and easier to navigate, but integration with existing systems can prove costly or time-consuming.

If you're a larger practice with more resources, it's worth considering customizable data analysis systems offered by larger vendors or health care-specific data analysis vendors. These tend to run a little higher in terms of cost, but the medical functionality and knowledgeable support teams often make the expense worth it.

Finally, if your existing EHR provider offers a practice analytics module, you should absolutely explore it, regardless of your practice's size. The ability to add analytics functionality to an existing system without dealing with integration and having to learn a new format should not be overlooked.

You can also reach out to our team of expert advisors at (855) 998-8505 for more help selecting the ideal practice analytics solution for you.