Particular metrics will vary based on the individual circumstances of an organization, but it is important to track data and employ meaningful analysis of that data.
This article first appeared in the July/August 2017 issue of HealthLeaders magazine.
In any business, there are universal ways of measuring success: Top line revenue and bottom line results are essential metrics. In today's healthcare industry, there are a variety of factors that impact fiscal health.
The July/August HealthLeaders magazine is devoted to exploring the new metrics that matter to healthcare leaders. Our staff has interviewed individuals throughout the C-suite to learn where they are focusing.
You'll read about executives who track patient volume, admissions, and a "reputation radar." Others watch access metrics, such as patient wait times and abandonment rates, or call center engagement and problem resolution. Patient satisfaction, employee morale, IT security, and many more are mentioned.
Marc Harrison, MD, president and CEO of Intermountain Healthcare, focuses on metrics associated with customer service. "I'm more interested in access than just about anything because we can't make people better if they can't get in to see us," he says.
Alan Murray, president and CEO of CareConnect, the insurance arm of Northwell Health, tracks customer-focused communication metrics. "You shouldn't have to figure out who to call—we should figure out how to solve the problem. So we're continuously monitoring call logs, call handle time, abandonment rate, and Web chat email communications. However you want to communicate with us, we will adapt."
At the HIMSS conference earlier this year, I spoke with some vendor executives to get their take on what metrics providers should be watching.
Bob Wertz is editorial director for HealthLeaders Media. He may be contacted at firstname.lastname@example.org.