Center For Healthcare Solutions

Collaborative Reporting Analytics
for Financial Transparency

Better Insight Made Actionable

INTRODUCTION

Hospitals and health systems continue to face intense pressure on staffing and resources while also dealing with rising expenses for supplies, drugs, equipment, reduced patient volumes, the shift to outpatient services, ongoing staffing issues and rising inflation. Without attention, these financial challenges will continue to jeopardize access to essential healthcare services for patients and profitability for hospitals.

 
The Collaborative Reporting Analytics for Financial Transparency (CRAFT) Report provides near, real-time data-driven insights via Financial and Performance/Competitive Benchmarking. One of the goals of any competitive business is to identify areas for improvement and pinpoint performance gaps. Understanding where hospital or healthcare facilities excel and where they may be falling behind is mission critical. The CRAFT Report data also enables healthcare facilities to identify opportunities for growth based on objective market data.

WHAT IS THE CRAFT REPORT?

THE CRAFT report is comprised of six comprehensive sections, including:

WHAT MAKES THE CRAFT REPORT DIFFERENT
FROM OTHER FINANCIAL REPORTS?

Oftentimes, large national consulting organizations provide high-level data from disparate hospital systems in an effort to provide a generalized overview. These reports are often more than a year old and contain outdated statistics. The CRAFT Report, however, provides detailed, homogenous data from contiguously located healthcare organizations to provide a comprehensive detailed report with analytical review coupled with expert commentary.


The Right Information Now:
Near, real-time data-driven insights harnessing financial, performance and competitive benchmarking representing contiguous, regional and national hospitals across numerous categories.


Trusted Advisors:
A trusted team of experienced and respected healthcare, data, information technology, finance and analytical professionals delivering
expert advisory services.

High-security:
100 percent U.S.-based workforce – all data is securely hosted in the U.S. in compliance with HITRUST certified best practices.

Enhanced Solutions:
While standardized Benchmarking is provided, The CRAFT Report can be further customized with a more robust Platinum version offering enhanced analytic capabilities.

CRUCIAL DATA SECURITY

CFHS follows the HITRUST CSF global framework, which is a Common Security Framework, providing healthcare organizations with a comprehensive, flexible and efficient approach to regulatory compliance and risk management, including:

Healthcare facility raw data is never shared and only used for benchmarking via an aggregate relationship
HITRUST Certification
• Data collection is always encrypted 
• Data is also encrypted at rest
• Data is accessible only by authorized C4HS personnel for client reporting purposes

THE PROCESS

Step 1:
CFHS provides a Request For Information (RFI) excel template to be completed 15 days after the end of the Quarter. This is completed and returned to CFHS within 30 days of receipt. Each facility traditionally assigns an internal point of contact, who collaborates with CFHS to complete data
collection, the data validation process and any other required liaison responsibilities.*

Step 2:

Once the data is received from A respective hospital, it is validated for reasonableness and entered into the CFHS database

Step 3:

When data from all participating healthcare organizations is gathered, processing occurs and The CRAFT Report(s) are ready for evaluation and commentary.

Step 4:

A soft-copy of the report is provided to Basic participants while Platinum subscribers can access aggregated data and reports via the CFHS web portal.

THE STRENGTH OF CFHS

Whether your challenges are organizational, technological, governmental, or financial CFHS can help. With our extensive experience and knowledge, we are committed being a trusted resource and partner to our leaders and communities by:

Providing Real-Time, Actionable Analytics 

Descriptive and Predictive Analytics:
Identifying Opportunities for Improvement

Recommending Solutions Through Internal Resources or Select Partners

Discovery and Predictive Analytics:
Measuring Results to Ensure Ongoing Viability and Sustainability

LEARN MORE ABOUT THE CRAFT REPORT

Real time – quarterly report and data is 45-60 days old and we are always working to create compilation efficiencies to deliver the final production more expeditiously
Geographically targeted analytics directly from the hospitals
Access to historical data – 5 year flash comparison
Ability to submit historical data for trending
CRAFT survey is an aggregation of hospital data.
Survey is completed quarterly on a year-to-date basis. Our most recent report is for a 9-month period ending March 31, 2023.
Survey includes benchmark data by region, peer grouping – urban/rural, bed size, and Medicare category.
Survey provides overview of definitions; detail on calculation; defined payor mix category; listing of hospital in each peer grouping, bed size, Medicare category, and region

OUR TEAM OF TRUSTED ADVISORS

BASIC & PLATINUM CRAFT REPORT OPTIONS

The Basic CRAFT Report is a soft copy (PDF).
The Platinum CRAFT Report is a custom, online dynamic report, which may include the following
depending upon current trends and needs of the end user:

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