MatrixCare Targets Niche Healthcare Market With Analytics Tool

MatrixCare, a technology provider with a targeted focus in the healthcare industry, is rolling out new data and analytics solutions for its clients.

The company serves long-term, post-acute care (LTPAC) healthcare providers. On Thursday (June 29), the company announced the availability of two new solutions, MyAnalytics and MyData, available through the MatrixCare Analytics Suite of offerings, for this niche market. The technology uses Microsoft Azure and PowerBI technology to help companies within the LTPAC space manage data and access analysis via dashboards.

“With prebuilt visualizations and reports that span the key areas of your business — from census and financial accounts receivable to readmissions and quality measures — this is the must-have tool for LTPAC executives looking to effectively manage their business and identify important trends at a glance,” said MatrixCare President and CEO John Damgaard in a statement. “Because dashboards and reports can be deployed on any mobile device, MyAnalytics allows for informed decision-making on the fly.”

The healthcare industry is increasingly a focus for FinTech companies looking to solve issues of accounts receivable.

A recent report by healthcare supply chain management company Global Healthcare Exchange said shifts in the industry’s business model, from fee-for-service to value-based reimbursement, is introducing new challenges for the market; a survey by GHX found 88 percent of financial executives at healthcare suppliers are expecting working capital performance pressures will increase this year. Analysis identified receivables and the order-to-cash cycle as the most critical part of the industry’s financial management efforts, surpassing procure-to-pay and inventory management.

The vast majority of professionals surveyed said they have been facing increased pressure to accept longer payment terms, with most expecting that pressure to also increase this year.