“Cleveland Clinic performance management” is what I researched- UNI Library
Using business intelligence to improve performance: Cleveland Clinic tracks KPIs daily to measure progress toward achieving the organization's strategic objectives. This effort has helped reduce labor costs and other expenses--and improve quality of care.(CASE STUDY)(key performance indicators). COPYRIGHT 2009 Healthcare Financial Management Association Many healthcare organizations possess a wealth of untapped strategic information in their transaction systems. If this information could be summarized in a meaningful and intuitive manner and updated daily, leaders for these organizations would have real-time views of actual performance against strategic objectives--and could use these data to help focus scarce resources and accelerate change. Sixteen years ago, Cleveland Clinic of Cleveland began tracking key performance indicators (KPIs) that had an impact on financial performance. At the time, Cleveland Clinic's CEO sought ways to better monitor and manage performance across the organization's multiple facilities. Since then, the initiative has helped Cleveland Clinic reduce costs and enhance quality of care, even during periods of financial turmoil. For example: * Since 2006, Cleveland Clinic has reduced nursing agency expenses by more than $5 million per year. * Careful analysis of blood product use has enabled Cleveland Clinic to reduce its blood product expenses by more than $400,000 annually. * The organization is able to more effectively recruit clinical professionals to prepare for seasonal shifts in employment. Focusing on Key Performance Data
Between 1993 and 1994, Cleveland Clinic began identifying operational drivers that had an impact on financial performance. Previously, the organization's performance metrics were based primarily on financial outcomes; income was evaluated against targets two weeks after month's end, which was the soonest that data were available. Applying metrics to operational drivers allowed Cleveland Clinic to understand the relationship between operations and finance, enabling the organization to align operational tasks with strategic goals. Initially, the organization focused on improving its revenue cycle and financial performance. One access metric that Cleveland Clinic tracked was appointment phone line performance. Patients calling to schedule appointments in a particular department had been waiting 2.5 minutes, on average, before their calls were answered. Cleveland Clinic established a goal to have appointment lines answered within 25 seconds. With the focus of both managers and staff, that goal was achieved within several months, although improving response times required continual monitoring. One might ask: "Is improvement as simple as identifying the issue and monitoring for change?" Providing managers and staff with accurate, intuitive, and easily interpretable data is one-third of the recipe for improvement. The other ingredients are alignment with strategic objectives and a system for accountability. For example, to help improve call response times, Cleveland Clinic's CEO reinforced the strategic importance of providing patients with access to high-quality care and of improving response times on volume, market share, and financial performance. To help encourage improvement in areas that involved physician participation, the CEO used monthly medical executive committee meetings to reinforce the importance of key metrics, review performance in a transparent forum, and give physician leaders an opportunity to share best practices. The natural competitive nature of physicians to want to perform in the top echelon relative to their peers was a catalyst for improvement as well. Initially, tracking KPIs was a labor-intensive task that required extracting data from mainframe audit reports on a monthly basis. The data, which were generally a month old, were extracted into Excel 13-month run...
Please join StudyMode to read the full document