Metrics In Health Care Case Study

Financial statement analysis is the process of identifying financial strengths and weaknesses of a firm by appropriately establishing a relationship between the items of the balance sheet and the profit and loss account. Financial statement plays an important role in setting framework of managerial decisions. Operating indicator analysis are quantifiable measurements that help an organization define and measures progress towards organizational goals that have been defined and agreed upon by management. These goals may change as an organization’s goal change. Operating indicator analysis in health care are part of the health service manger’s quality and risk management plans. Plans are chosen based on the operating indicator analysis based on several factors such as regulatory and accrediting body initiatives and recommendations as well as identified organizational improvement areas. Generally, this analysis for health services is aimed at making sure program or service does what it is intended to do and do it well. Health service managers need the information provided by financial statement analysis. They need to know how their organization is doing financially, what their rate of profit is and whether or not they are they are managing their inventories and accounts receivable efficiently. This can help managers to decide if any changes need to be made and how to allocate their financial resources. Many managers of healthcare facilities use their organization’s financial statement analysis to calculate various ratios and

Whenever new metric are introduced, it is very important that everyone is communicated the updates quickly. The first line of communication should start with management. When training management on new metric, a reference guide or a point of contact should be given for additional support. The objectives of management should consist of grasping the concepts of new metrics, ability to explain the concept of new metrics, and ability to evaluate employees with new metrics.

Data collected provides the health care organization, providers, administrators and the patients with valuable information. Tools assist the organization by measuring the performance data that provide the information to improve the patient experience and improve their care. These tools engage the organization in self-evaluation on an ongoing basis. These tools also provide and effective method of containing costs and provides the means to meet the regulatory requirements to improve quality care. Tools allow organizations to provide a

Ms. Rademeyer views several determinants to help a patient access their care, these include, understanding their insurance guidelines, insuring that her business model adheres to the authorization and limitations of the patient’s insurance plan, educating the patients and providing marketing and internet access which allow the patients to locate her services easily (Rademeyer, 2015).

Providers do not have any control over their patient population and hospitals attract specific patient groups based on the services they offer. Interpreting outcome data and rates, especially for different groups of patients may not be the best data to determine quality of care as these rates can also be tied to specific patient characteristics rather than care delivery. Also, comparison among these various groups will be considered to be unfair unless they are adjusted for risk. Including a case mix index is one way to account for the clinical complexity of procedures performed. Even though there are techniques to account for this variability, many of it can go unexplained and has the possibility of inaccurately ranking providers based on patient outcomes.

Furthermore, the book emphasizes that measurement is very important in healthcare because proper evaluation and measurement of health care professionals’ skills enable patients to decide which specialists to choose for the special procedure. By providing many inspiring stories of leaders such as Professor Porter and Teisberg, Kenny describes the role of measurement in reforming the healthcare system. Clinicians and hospitals can understand their ranking and formulate necessary actions to improve while patients can decide where to visit for their treatment. The author also suggests that implementing technology to measure the effectiveness and efficiency of a medical procedure can be a step to transforming the system if it is applied carefully. However, many physicians and health professionals suspected that measurement would be used for surveillance and judgment instead of tool

To monitor this, other statistics will need to be monitored, such as the level of care patients are receiving.

“There are three basic dimensions to this: structure, process, and outcome. Structure represents the basic characteristics of physicians, hospitals, other professionals, and other facilities” (Clancy, 2009).

First, as I mentioned in my previous journal, Linda adopted the DMAIC approach (define, measure, analyze, improve, control) to identify if there is an internal holdup for low patients volume in the center, how the patient's workflow currently is measured, what are the improvements that can be developed internally to eliminate or reduce the cause of low patients volume, and how the center sustain the improved performance. The reality is that there are varieties of an internal and external variable that impact the patients volumes

The greatest financial challenges to a health care provider are its revenue cycle and receivable management. The revenue cycle is the process that includes all the administrative as well as the clinical functions that are essential and important for capturing, managing, and collecting the patient service revenue whereas the receivable management deals with the planning, organizing, directing, and controlling the receivables. Therefore when all these are taken into account with proper measures they can serve well in making the health care provider sustainable in financial decision. Well if we look at the health care organization we can concatenate many of these who are actually available for the discussion of their alternative to the

If a payer feels that a practice is weak in a certain area, they can construct performance-based metrics that provide incentive for improvement.

Measurement is fundamental in my organization success. With the new healthcare regulations is it is imperative for my company to have measurements in place in order to gauge the quality of healthcare that is being giving to patients. The following is the areas the organization looks at overall.

Quality measures are strategies that gauge, evaluate or compute health care processes, results, discernments, patient insight, and administrative structure. In addition, quality measures are frameworks that are connected with the capacity to deliver first-class health care and/or that are able to identify with one or more quality objectives for medicinal services. These objectives include: compelling, protected, effective, quiet focused, impartial, and opportune consideration. Quality measures can be used to measure quality improvement, public reporting, and pay-for-reporting programs specific for health care providers (CMS.gov, 2016). There are an assortment of quality measures in which health care organizations can use to determine the status of the care they are delivering. Many are appropriate, but few are chosen for this research paper. Among them are: National Health Care Surveys, Hospital IQR Programs, Scorecards, and Political, Power, and Perception/Data for Decision-making tools.

(including overuse, underuse, and misuse or even abuse); and measure of volume and levels of procedures for which there is some evidence that a greater volume and increased level of procedures are associated with lower rate of mortality. These indicators are provided to the community for public consumption and are used by patients and their relatives to make informed decisions about who and where healthcare may be sought and provided.

Throughout history, PMS clearly have a considerable contribution to evaluate the success of organisations. According to Neely et al. (2002), performance measurement is "the process of quantifying the efficiency and effectiveness of past actions". Moullin (2003) indicates that "PM is evaluating how well organisations are managed and the value they deliver for customers and other stakeholders". The modern accounting framework can be traced back to the Middle Ages and since that time appraisal of performance has primarily been ground on financial criteria (Bruns, 1998).