Keying in on KPIs

Medical Practice Insider | July 17, 2014

Data analytics isn’t only for large health systems. Small and midsize practices, too, must measure performance to ensure they are operating at peak effectiveness and efficiency.

St. Claire Regional Medical Center in Morehead, Kentucky, and Consolidated Health Services in Cincinnati both track key performance indicators (KPIs), for instance, though each takes a slightly different approach.

“The titles of the KPIs explain why we use them,” said Leigh Anne Stiltner, St. Claire Regional’s director of patient financial services, who detailed the list of KPIs the medical group regularly tracks:

Consolidated Health Services in Cincinnati uses a somewhat different mix of KPIs (listed below). Joseph Ruark, director of home health/hospice revenue cycle, provided a brief explanation where the KPI title does not reasonably explain its purpose.

“Analytics like KPIs enable you to make quick, smart decisions, prioritize resources, assess your financial health, and plan better for the future,” explained Kim Labow, vice president of marketing at ZirMed, a healthcare information connectivity and management solutions company.

Which KPIs do you use at your practice and how do they help you gauge financial and operational health? Add to the discussion in the Comments section below.

Keying in on KPIs

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