Doctivity Is Like Moneyball for Healthcare
Can data analysis truly make you a winner? That’s the question Oakland Athletics’ General Manager Billy Beane asked himself many times during the team’s 2002 season. With a small budget of just $41 million and the impossible task of assembling a team that could compete for a World Series win, Beane had to tap into a rare and innovative strategy to produce unexpected and unprecedented results.
At Doctivity, we love Billy Beane’s story simply because it’s our story, too. Our goal is to help healthcare organizations become a top team in healthcare. In other words, we seek to help practices thrive, see more unique patients, have greater physician productivity, and experience better network management.
How do we do it? We help healthcare organizations stay financially stable so they can continue to deliver quality patient care. We do that by ensuring they are focused on the right business advancement strategies to accelerate revenue generation. We use in-depth data analysis to find your “undervalued players,” which are the growth opportunities that will help you achieve remarkable results. No healthcare tech tool on the market provides immediate actionable insights that’ll take your organization to the next level like Doctivity.
Doctivity’s Successful Two-Part Approach
To help you achieve the ROI you desire from your healthcare organization, Docitivity employs a proven two-part strategy. First, we get your doctors and providers on base. We’re always streamlining provider ramp-up so that those new to your organization can hit the ground running.
That also means our Physician Relationship Management (PRM) platform gives you the tools you need to improve provider relations and increase productivity. The data we gather helps providers set goals, track success, and see more patients in less time.
The second part of our strategy involves getting you more at-bats. In other words, we’ll help your marketing and business development teams see where the real, live growth opportunities are within your organization. We’ll turn data into actionable insights to help you speak to the needs of your target audience, bring in new patients, and ultimately increase your organization’s gross revenue.
The Moneyball Approach in Action
We don’t just talk the talk; we also walk the walk. Below, discover three compelling examples of how Doctivity embodies the principles of Moneyball.
Case Study: The Moneyball Approach of Surgeon Onboarding
A community hospital aimed to transform its onboarding process for a newly hired foot and ankle surgeon who felt his ramp-up was lacking. By leveraging Doctivity’s data analytics, the hospital identified key referring physicians and market opportunities, effectively speeding up the surgeon’s integration.
In just 12 months, the results were striking: a 23% increase in average monthly operating room cases and over $1 million in additional revenue, alongside a 44% improvement in the surgeon's RVU percentile. This strategic application of Doctivity not only streamlined the onboarding process but also significantly enhanced operational performance and revenue, illustrating how data-driven decision-making can revolutionize healthcare, much like the principles of Moneyball transformed baseball.
Case Study: The Moneyball Approach for Reducing Outmigration
This customer faced a challenge with declining new patient referrals, both from internal and external sources, which was hurting their revenue in a competitive landscape. Much like the approach in Moneyball, partnering with Doctivity allowed them to leverage data analytics and market insights to pinpoint the issue. They confirmed the referral decline and discovered that two key competitors were capturing a significant share of heart failure patients, resulting in over $150M in outmigration.
With guidance from Doctivity's customer success team, the customer revamped their strategy to minimize employed PCP leakage, expand services in critical market areas, and build relationships with influential independent PCPs. By applying data-driven tactics similar to those in Moneyball, they targeted their efforts effectively. As a result, the customer is on track to recapture and boost patient referral numbers, ultimately driving new revenue growth.
Case Study: The Moneyball Approach in Orthopedic Recruitment
Three orthopedic surgeons were part of a hospital facing a potential acquisition. Uncertainty loomed as the surgeons contemplated whether to join the new group. The primary goal was to assess patient volumes and determine if the hospital's Primary Care Physician (PCP) network demonstrated loyalty to the three surgeons, which would be critical for their potential recruitment.
Leveraging the Doctivity platform, dashboards revealed that a significant majority of the hospital's PCPs were almost exclusively referring patients to the three surgeons. With a clear understanding of the referral patterns and the potential increase in patient volumes, the orthopedic practice adopted a data-driven recruitment strategy. The insights provided by Doctivity allowed them to make informed decisions, akin to the "Moneyball" approach, using analytics to maximize their recruitment potential and enhance their practice's growth.
By embracing data, the orthopedic practice transformed uncertainty into opportunity, showcasing how Doctivity is revolutionizing the way healthcare professionals approach recruitment and practice management.
Doctivity Ensures Your Players Make the Right Decisions When It Matters Most
What Doctivity provides is unheard of in the industry. We equip your teams with on-demand data and insights. Furthermore, we’re not just providing numbers and metrics for the sake of it. We ensure that you get access to the right data points and market insights.
Why does that matter so much? There are many tools out there on the market that can provide data. But even with reports in hand, many organizations still struggle with making sense of them or figuring out how to use their data to achieve growth.
You don’t need just any data. You need the right data points in the hands of the right people who can look at it the right way. The Doctivity team helps you acquire that, ensuring the providers and team members who are out on the field can make the right decisions when the ball comes flying in their direction, so to speak.
Doctivity pulls in data from multiple sources, including clinical, operational, and financial data, to provide a more holistic view. Visibility into the entire operation, coupled with robust data your team can take action on, is what truly makes the difference in being able to build a winning franchise.
The Four Data Segments Our Platform Is Built On
To build a team and playbook that helps your organization win, Docitivity uses four distinct data segments:
1. Data and Analytics: Just like Billy Beane, we’ll help you dig into the data to analyze where your business is and how to get it where it needs to be
2. Relevant Data Points: You need the data points that matter most to your organization, and Doctivity ensures you get them
3. Problem-Solving: Doctivity provides a comprehensive view of your data to identify growth opportunities you may not have seen before
4. Actionable Insights: Having data only matters if you know how to use it, and Doctivity will ensure you’re taking the actions that will help you achieve goals
Doctivity’s key differentiator is not just having the numbers in hand. It’s empowering teams to make the day-to-day strategic decisions that win championships.
Let Doctivity Guide You to a Winning Business Strategy
As a company, we care deeply about ensuring you’re able to meet and exceed your strategic goals. And that’s why we don’t just leave our clients to figure it out on their own.
In the movie “Moneyball,” Billy Beane partners with Yale economics graduate Peter Brand to come up with an unprecedented sabermetric strategy to win the season. Partnering with an expert gave Beane the edge he needed to make strategic decisions about his players and secure a historic winning streak.
In the same way, our team of industry veterans is here to guide you the entire way to success. If you’re ready to dig into your data, uncover new growth opportunities, and maximize your ROI, the Doctivity team is here to help. Contact us to schedule a demo and learn more about how we can transform your organization today.
