It's a strategic practice used to monitor success. No one metric can create a balanced story, which is why conventional performance management systems are insufficient—often measuring only financial, operational or quality results. These measures alone, though essential and important, fail to tell the complete story of the business realities hospitals now face. Optimal accomplishment only happens when all are aligned on the same goals and marching forward in tandem, each recognizing their contribution to the 'dot' mapped on ascorecard.
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Improving Performance amid the Deluge of Data
Measurement is the name of the game in improving healthcare operations these days. A Q&A with Truven Health's Kathy Vanenkevort.
What does “balanced performance” mean and why should hospitals seek it?
Why is balanced performance important in today's healthcare environment?
We have to examine cause and effect relationships more today than ever. The business of healthcare and the provisioning of healthcare now have interconnected strategic aims. As we move from fee-for-service to value-based care, seeing all the components of the value equation creates a tipping point between the fragmented practices of today to fluid continuums tomorrow.
How often should you "benchmark"?
The majority of organizations benchmark monthly simply because at that point you have a cohort of data that has enough power to show statistically significant improvement. Timelines should allow suf cient time for change. Remember, we are aiming for palpable results. Something you can feel.
What are some proven best practices that Truven Health sees when it helps organizations begin their performance improvement journeys?
Begin is the operative word. Most organizations don't get far on their journey not because they aren't measuring the right metrics, but because the culture isn't aligned. So to begin one must give special attention to the following:
- Transparency on KPIs—measuring what actually matters
- Alignment of leaders and staff
- Consistent adoption in a systematic way across
- Efficient and effective attainment of results .
the organization
We're dedicated to delivering the answers our clients need to improve healthcare quality and access, and reduce costs. Our unmatched data assets, technology, analytic expertise, and market-wide perspective have served the healthcare industry for more than 30 years. For more information, please visit truvenhealth.com.
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