Streamline the business side of running a medical facility.
What does a Healthcare Business Analyst do?
Healthcare Business Analysts outline business strategies for medical facilities. They do not see hospitals strictly as places where patients go to get treated. Instead, Healthcare Business Analysts view them as entities that must attract customers and meet financial goals in order to stay running, just like any other business selling services.
As a Healthcare Business Analyst, you keep a hospital out of the red, get it in the black, and create plans that will allow it to keep its doors open and, therefore, continue to provide service to people who need medical help.
One way of achieving this goal involves analyzing and balancing budgets. This is generally a collaborative effort between you and various departments. You make sure the hospital is using the money it earns in the best possible way. When contracts for medical equipment suppliers are up, you investigate more cost-effective ways to obtain top-notch equipment, saving money in the process. This can include renegotiating the deal or putting the word out into the community that your hospital is accepting proposals from new suppliers. In down economies, you will also conduct audits to determine what programs need to be cut to keep the hospital afloat.
That’s not to say your focus is solely on black-and-white economics. Bringing a human element into your analyses and reports will only make your hospital stronger. By surveying patients and viewing them as customers, you come up with plans to increase their satisfaction. These plans can include budgeting for building enhancements to make patients more comfortable while being treated, or technological upgrades to make it easier and more secure for them to obtain medical records.