Age care provider finds value in forecasting and prediction
When providing care for the elderly, you have a tremendous responsibility to your residents and their families. With 10 care homes and up to a thousand residents, SummitCare is committed to providing accurate and up-to-the-minute data on KPIs, as well as complete transparency to ensure that they are upholding the highest standards. With staff alerted to potential issues, SummitCare is able to provide the best quality care their residents deserve.
Starting fresh with analytics
When Glenn Scott first stepped into the Chief Financial Officer’s position two years ago, he found an inefficient planning process with inaccessible data, and disparate reporting platforms. To counter this problem, Glenn knew better occupancy planning and forecasting as well as aligning costs with revenues were key objectives. In an environment that relies on government funding, visibility and accuracy are paramount. He immediately began consolidating reporting and planning functions, along with the accurate and dependable insights they convey. No one was even looking at reporting, because by the time employees had reports in hand, they were already six weeks to two months old.
“If you're relying on six-week-old KPI data, I mean, we have residents coming in and out of the home every day, so you need to be very responsive to what's happening in the home,” says Glenn.
In an industry where every day brings something new into the equation, having such an extreme reporting lag was simply unacceptable. SummitCare is required to keep clear performance indicators across a range of functions, from patient fall reports to family satisfaction with the facility and staff. There is no room for unmanaged reporting and planning.
Starting with basic functions like payroll and resident billing data, Glenn brought functions in-house and exercised discipline around each one. SummitCare is moving beyond the basics to reporting on and planning for:
- Clinical compliance
- Resident satisfaction
- Occupancy per facility
- Revenue by resident day
- Labor costs
Glenn says, "Triangulate all of your key drivers and you can make sure that the resident experience is good."
Much more than dashboarding
After looking at a competitive product, Glenn chose IBM Planning Analytics powered by TM1 because his organization needed more than just dashboarding. They needed a comprehensive solution that also offered reporting and timely forecasting, giving their team the ability to respond in real time. The more SummitCare used IBM Planning Analytics, the more features they found they could take advantage of to streamline their operations.
SummitCare was thrilled to find that IBM Planning Analytics Workspace delivers near real-time dashboarding to vastly improve the knowledge and experience of home managers. Right now, as one might expect from a CFO’s office, the focus of their efforts is largely financial. However, as part of their implementation of IBM Planning Analytics, SummitCare and Glenn are eager to expand into detailed scenario modeling to help them assess the impact of their decisions before executing.
Partnership for growth
To understand how IBM Planning Analytics helps SummitCare, it’s useful to understand a little bit about how aged care works in Australia. The majority of the costs are picked up by the government, which is based off of patient acuity. Glenn relies on IBM Planning Analytics to provide this reporting for the ACFI (Aged Care Funding Instrument).
SummitCare is continuing to work closely with IBM Business Partner the BMA Group. While the relationship is fairly new, Glenn was eager to get hands-on and build out IBM Planning Analytics’ capabilities. The BMA Group is Glenn’s trusted advisor.
By improving the recording and reporting of key KPIs, SummitCare is well on the way to a digital transformation that will improve the profitability of the company and the quality of life for its residents.
A glimpse into the future
The possibilities for IBM Planning Analytics at SummitCare are only limited by the imagination of its users. Right now, thanks to the small, family-centered nature of the company, SummitCare limits access to IBM Planning Analytics to four users per home. In the future, Glenn foresees the need to scale up – a world where many more employees will have access to the tool in order to make better decisions, faster. For now, it’s important to prevent confusion among clinical and administrative personnel, while ensuring the best outcomes for the residents and staff that comprise each home.
SummitCare is a family-owned business that has supported the community for generations. Since they began in 1966 as a solitary nursing home in Sydney, caring for the individual needs of older people with warmth and professionalism has been their aim.
About BMA Group
Since 1994, BMA Group has helped smart businesses of all sizes and across all industries sustainably reduce their costs, evolve decision-making processes and gain a richer base of insights and information.
About IBM Planning Analytics
IBM Planning Analytics is an integrated planning solution designed to promote collaboration across the organization and help keep pace with the speed of modern business. With a powerful calculation engine, this enterprise performance management solution helps you move beyond the limits of spreadsheets, automating the planning process to drive faster, more accurate results.