Sign In
Not register? Register Now!
Pages:
4 pages/≈1100 words
Sources:
Check Instructions
Style:
APA
Subject:
Health, Medicine, Nursing
Type:
Essay
Language:
English (U.S.)
Document:
MS Word
Date:
Total cost:
$ 19.44
Topic:

Benchmark- Project management Tool

Essay Instructions:

The purpose of this assignment is to develop an action plan to correct unaligned key performance indicators.
Refer to the Table 11-1 dashboard tool for Harris Memorial Hospital, located in Chapter 11 of Essentials of Health Care Finance to complete this assignment.
Assume that you are a health care administrator at Harris Memorial Hospital. Analyze the key performance indicators (KPIs) provided and determine which indicators are out of alignment with the dashboard tool. Write a 1,000-1,250-word memorandum to the CEO and CFO of your organization explaining the following:
The identified KPIs that are out of alignment.
The analysis conducted to identify which KPIs are out of alignment.
Your corrective action plan to align each of the KPIs.
Choose one of the following project ideas and explain how the information provided in the dashboard tool will help to advance progress on the project: (a) a new pediatric wing, (b) a new outpatient surgical center, or (c) increasing in-house education to credentialed staff.

Essay Sample Content Preview:
TO:FROM:
DATE:
SUBECT: Key Performance Indicator (KPIs)
Key Performance Indicator (KPIs) in Health Care 
Key performance indicators are quantifiable measurements that are used to measure the overall performance of a company. These indicators measure a company’s success and measure industry peers, values, objectives, and targets. The KPIs determine the finances, strategies, and operation of a company, comparing them to other companies within the same sector. The indicators aim to provide progress of objectives that leads to achieving the desired result, measuring strategies used to make better decisions, and tracking efficiency, personnel performance, economics, and governance. According to the dashboard of Harris Memorial Hospital, the KPIs that are out of alignment are profits, liquidity, debt expense, and age of physical facilities. There are five types of KPIs used in health care: input, process, outputs, outcomes, and efficiency. 
The input indicators of Harris Memorial Hospital measures human and financial resources after being devoted to a certain program; the resources include the number of beds, caseworkers, vaccines purchased, supplies, equipment, personnel, and buildings. Process indicators measure consistency, the order of activities being carried out, and service recipients such as stock wastage and fill rates. Output indicators of a health care facility measure the quantity and quality of goods and services provided, while outcome KPIs measures the results attained from the goods and services produced. The efficiency indicators measure the efficiency and effectiveness of resources that produce outputs.
Analysis of Key Performance Indicator (KPIs)
Key performance indicators in health care facilities are used to monitor, analyze, and optimize healthcare services by enhancing health care facilities’ performance thus increasing patients’ satisfaction. A health facility with well-designed indicators can establish their current level of performance, set standards and targets that will motivate them to improve their performance, measure and report improvements, comparing the performance of the facility with other facilities, benchmarking against the best regional and international facilities, and allows stakeholders to judge their performance. 
Profit as a key performance indicator in the hospital is measured by a margin, while liquidity is calculated by the number of days and cash at hand. Debt expense is important in the facility, and it is determined by debt financing percentage, while the average age of the plant influences age of physical facilities. Harris hospital has high profits, debts, new plants, and high profits, making the financial strength index strong due to its capital position. The capital position, which includes long-term debt, equity, cash flow, and debt services, significantly impacts the facility's total margin. Debt levels as an indicator strengthen their financial performance, and the facility's net income is derived from investment income. Averagely, Harris has a high number of surgeries compared to the Eastside facilities. Due to this reason, the hospital becomes profitable in surgical inpatient surgeries compared to other medical cases. 
The i...
Updated on
Get the Whole Paper!
Not exactly what you need?
Do you need a custom essay? Order right now:

You Might Also Like Other Topics Related to vaccination:

HIRE A WRITER FROM $11.95 / PAGE
ORDER WITH 15% DISCOUNT!