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KRX

Empowering Business Insights with Performance Analytics and Actionable Reporting
Level Up with Newbrier KRX

In the quest for enhanced decision-making and operational efficiency, Rural Hospitals turn to Newbrier KRX, their trusted partner for analytical clarity and sustainable growth.

KRX aims to offer continuous and comprehensive managerial support to hospital CEOs. With its provision of detailed insights and streamlined reporting, KRX supports refined decision-making processes. Its robust financial reporting component helps guide strategic decisions by clearly showcasing the organization’s financial health. This not only contributes to sustainable growth but also promotes a high standard of healthcare services. The efficiency gains from using KRX are pivotal in navigating hospital management towards improved operational efficiency and effectiveness.

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In-Depth Financial Analysis for Effective Decision Making

Newbrier KRX Financial Analysis as a Service

KRX is financial analysis as a service intricately designed to catalyze insightful financial decision-making for rural hospitals. We can transform raw data into powerful insights, shaping more refined and effective financial strategies. Our deliverables are anchored in performance analytics and actionable reporting, equipping healthcare leaders with the tools to interpret and utilize their data proficiently. KRX is a progressive partnership – a commitment to harness and maximize the potential growth of your organization through informed decisions.

We specialize in creating tailored deliverables uniquely designed to meet the individual needs of each hospital. Through a comprehensive analysis, we carefully select from the elements below to identify precise opportunities for optimization. By collaborating closely with the hospital’s stakeholders, we design targeted solutions that align with their financial goals, ensuring sustainable growth and improved financial performance.

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  • Results Partner

These services aim to provide ongoing and comprehensive managerial assistance to hospital CEOs, driving more informed decisions for better patient care.

  • Monthly Business Review

    Regular monthly meetings to review key metrics, trends, and the organization’s financial health.

  • Decision Support

    Providing data-driven insights and recommendations to help guide strategic decisions.

  • Ad-Hoc Analytics

    On-demand analytical services when you need deeper insights or are faced with unique decision-making challenges.

  • Financial Reporting

Financial reporting guides strategic decisions for hospital leaders by clearly showcasing financial health and resource management, fueling sustainable growth and quality healthcare.

  • Monthly Board Presentation

    A summary of key financial metrics for board members, reported monthly. 

  • Executive Dashboard

    A unified view of financial data points, updated monthly for executive decision-making.

  • Management Financial Results

    Detailed monthly financial results for Executive Leaders.

  • Volume Trends

    A monthly analysis of patient volume trends and service line demand.

  • Performance Analysis

Performance analysis is vital for organizations to evaluate their operational efficiency and effectiveness. By closely monitoring performance metrics, it enables data-driven decision-making, fosters continuous improvement, and aligns efforts toward achieving strategic goals, ultimately driving organizational success.

  • Service Line Analytics

    Tailored analytics for each hospital service line to reveal profitability and strategic insights.

  • Tailored Financial Analysis

    A customized analysis for each client, encompassing their specific Medicare reimbursement rates, contractual reserves, and uncollectible accounts. This assessment evaluates the individual impact on the client’s financial performance and identifies personalized opportunities for optimization and revenue enhancement.

  • Performance Metrics

    Key indicators to evaluate the organization’s performance management and resource utilization effectiveness.

  • Forecasting

Financial forecasts are data-driven projections of an organization’s financial performance, guiding strategic decision-making and anticipating future trends based on current patterns.

While both the forecast and budget are valuable financial planning tools, it’s crucial to note that they have differing levels of detail.  Budgets typically provide more detailed, precise information, while forecasts offer essential yet broader insights based on current trends.

Financial Analysis As A Service

Level Up Without Increasing Your Headcount

Proactive Decision Support

KRX empowers businesses with robust, real-time data allowing them to make proactive and informed decisions, rather than reactive.

Enhanced Efficiency

By automating finance processes, KRX allows organizations to focus on strategic thinking and forward-planning, instead of wasting time on manual handling and manipulation of data.

Cost-Effective

KRX offers a cost-saving option, eliminating the need for organizations to invest in expensive software or in-house data science teams.

Customized Reporting

KRX tailors reporting to the unique needs and goals of each organization, ensuring maximum relevance and insight for every individual client.

Strategic Growth

With KRX’s detailed financial analysis, organizations can identify opportunities and risks, harness their growth potential and steer towards sustainable success.

Expert Financial Insight

KRX brings industry-specific expertise and financial acumen to your organization, driving data-backed insights for fine-tuned business strategies.

Maximize Efficiency: No New Software. No Extra Headcount.

Advanced Analytics with Built-In Analyst

Level Up Without Adding Headcount

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KRX Related Insights

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Rural hospitals are the heartbeats of remote communities, but their leaders need strong partners to navigate complexities. In our latest article, we delve into the transformative power of financial…
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Frequently Asked Questions

What is KRX?

KRX is a premier financial analysis service that equips rural hospitals with actionable insights for enhanced financial decision-making. Using performance analytics and reporting, KRX drives strategic, data-informed decisions.

What can I expect from KRX’s service?

With KRX, clients gain access to thorough and insightful financial analysis. You will receive regular review of key performance indicators, data-driven insights, strategic financial reporting, and on-demand analysis. Our services equip you to make confident, informed financial decisions and grow your organization.

How does KRX work?

KRX works by taking raw financial data from your hospital and applying advanced analytical techniques to uncover patterns, trends, and areas for improvement.

Our expert team then generates customized, actionable reports that healthcare leaders can easily understand. These reports highlight key findings and strategic insights to optimize financial performance, enabling informed decisions on cost control and revenue enhancement.

By delivering valuable insights, KRX empowers healthcare leaders to focus on their core responsibilities while driving significant organizational growth.

How does KRX help in financial forecasting?

KRX’s financial forecasting provides projections of an organization’s financial performance. This helps in anticipating future trends based on historic data and current patterns, thereby guiding strategic decision-making.

Can KRX impact staffing requirements at rural hospitals?

KRX’s efficiencies enable rural hospitals to optimize their workforce. Our automation of financial processes minimizes the reliance on manual data handling and manipulation, allowing your staff to focus on strategic, patient-centered tasks. While each organization’s needs are unique, KRX can potentially reduce the necessity for large in-house finance teams, aiding in more cost-effective staffing structures.

Is KRX a software that needs to be installed at the hospital?

No, KRX is not a software to be installed. Instead, it is a service provided by Newbrier’s expert team. There’s no need for your hospital to learn or install any software. Our team at Newbrier will handle the financial analysis work for you, allowing you to focus on delivering exceptional patient care and making well-informed strategic decisions.

Is KRX designed for big hospitals or smaller facilities like rural hospitals and critical access hospitals?

KRX is specifically tailored to meet the needs of rural hospitals and critical access hospitals. Our services are designed to deliver data-driven insights that support these facilities in making informed financial decisions and optimizing their operations, allowing them to thrive in rural healthcare environments.

Can KRX provide assistance with financial planning and budgeting?

While KRX’s primary focus is to offer thorough and insightful financial analysis and reporting, budgeting services are not included under KRX. However, Newbrier provides budgeting assistance as a separate project. We can guide your organization through financial planning and budgeting processes, ensuring robust financial health and sustainability.

Is KRX suitable for non-finance professionals?

KRX’s comprehensive financial services have been designed to facilitate decision-making throughout your organization. Even if you are not a finance professional, you will find the insights provided by KRX accessible and highly valuable. Our team works to present intricate financial data in an easily digestible format.

How does the cost of KRX compare to hiring an in-house analyst?

Investing in Newbrier’s KRX service is a cost-conscious alternative to employing a full-time in-house financial analyst. Our pricing model aims to offer exceptional value, with the financial expertise and insights we provide available at a fraction of typical personnel costs. This makes KRX a viable and affordable solution for rural hospitals and critical access hospitals, providing comprehensive financial insight while respecting their budget constraints.

Planning

Learn how our KRX financial analysis as a service can help your hospital thrive.

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1-800-905-9462