Keeping Score Drives Better Healthcare
[vc_row][vc_column][vc_column_text]Every successful enterprise keeps score through measurable business metrics. Without a means to measure what you are doing, there cannot be any rational means to improve. Sometimes finding the right thing to measure takes some thought. Not everything needs to be measured. Funds are always limiting, hence the underlying question is where do we put in our extra funds, extra effort? Within a business, one might wish to determine the speed, efficiency, and effectiveness in producing products or services. The goal is to find the point in the business process that is limiting in getting work out. In other words, find the bottleneck that will score low and then eliminate it. This type of improvement should be considered regularly to continue to help the business thrive.
A less obvious place to measure your business score is to gauge your business efforts against outside norms. This measure tells you how you fare beside others in your business. For example, it you are in business providing services to the public and there are services that collect industry data, it would be valuable to learn what the norms are so that you know whether you are beating the competition or falling behind. As an executive, it is not smart to be unaware why your business is losing ground to competitors. What’s your score?
When we discuss population health management, scores do matter. Keeping score drives better healthcare and if you are providing healthcare services and have patients to care for, it would be valuable to see how you compare with industry norms. If for instance the national hospital readmission rate for Chronic Obstructive Pulmonary Disease (COPD) is 22.1% and you do not meet that norm, it is useful to know where you are in relation to the score. Are you doing better than that or are your readmits higher? Are there local and regional environmental factors or social determinants that are affecting the rate in your service area? Are you being penalized for higher rates of readmission as a result? These are all critical questions that start with understanding your score and business metrics. As you are intent on keeping patients healthy and in providing the best healthcare you can (because you are competitive), then you now know where to focus your investment dollars and corporate effort to improve your scores to at least meet or exceed the norm. Again, keeping score drives better healthcare.
But in population health management keeping score requires special expertise. Many doctors and hospitals need help in getting data about their population integrated with their KPIs. How do multiple chronic conditions adversely affect their overall score against national data? What is the resulting risk and how can those risks be mitigated? To help answer such questions GeoDimensional Decision Group has developed and just launched VBPMaster™, an instant, affordable Value Based Purchasing subscription service that provides Population Health Management expertise for a low monthly fee.
If you’re keeping score we are ready to help. Find out more here!
©Gregory T. Reinecke