Aesthetic Medicine production metrics data (invoice information) is not dependent on medical insurance re-imbursement. Medical insurance reimbursement has a mandatory standardized methodology of identifying procedures called CPT coding. In Aesthetic Medicine, this type of information, which identifies products and services provided to patients, is generated ad hoc by each practice. The Ronan Solutions™ dataset has been meticulously standardized and organized, to allow likewise comparisons between all different types of practices and specialties.
Once the data is standardized and organized, it needs to be visualized. Data visualization is accomplished by using a business intelligence platform. In the case of the Ronan Solutions'™ dataset, the data is analyzed and visualized using Power BI, one of the top business intelligence tools on the market. Data visualization does not only mean the use of colorful charts and graphs, but also calculations specific to a given dataset. In this instance, complex proprietary algorithms specific to the Aesthetic Medicine environment have been developed which will provide unique insights into practice and patient behavior.
Most of the top Practice Management Systems and EMRs in this environment provide quality reporting modules, specific to the use of that particular PM/EMR. Data standardization across practices with any level of organization of devices, procedures and products is not possible with these systems because of the ad hoc creation of the procedure description. The Ronan Solutions™ dataset provides unique levels of organization of the data and standardization across practices and systems that compares “apples to apples and oranges to oranges.”
Data of this type provides insights into a business (practice) and consumer (patient) behavior. Every retail business utilizes some type of consumer and business metrics data to understand previous, ongoing, and potential future trends. This information is critical to creating an efficient and profitable business. In Aesthetic Medicine, this data generally comes from subjective information based on surveys, which are not validated and are subject to error.