According to Marr (2014), key performance indicators (KPIs) should be the most important measure used by companies, business units, or project teams to track their progress against strategic goals. The starting point for choosing which KPIs to use are based on the decision of the board, what is going on in the industry, and what is relevant to the company (Guide, n.d.). Also, the KPIs should communicate the accomplishment of key goals (Reh, 2018). There can be lagging and leading indicators (Reh, 2018). Lagging measure past performance and leading is about the future (Reh, 2018). Selecting the right KPIs will be the focus of this discussion question.
This discussion requires you to develop key performance indicators to improve the performance of a healthcare organization and compare key performance indicators categories utilized by healthcare organizations.
Big Twig Regional Hospital is a full-service, for-profit acute care center with 375 beds. It is located in Forrest Springs, OK. The bulk of the facilities are devoted to inpatient and ER services. However, there is a large outpatient clinic for which you have just taken over as manager. Upon assuming your new role, you noticed some areas of deficiencies: there is a decrease in revenue from year to year; patient and staff complaints have increased; there was negative mention of the clinic in the local paper; expenses have increased over the last 3 quarters; employee turnover is high; there is a backlog of appointments to be scheduled; and the facility, to include the technology and equipment, is outdated. Your boss is expecting you to turn things around within the next 90 days.
Initial Post: Respond to the following using a table that you can present to your supervisor.
Use the four categories: revenue improvement, cost reduction, process cycle-time improvement, and increased customer satisfaction to develop two to three performance indicators for each category.
Be sure to indicate the specific measurement to attain for each indicator.
Also discuss some tasks that will be employed to achieve the goals.
The initial posting should be prepared as a Microsoft™ Word document, and then attached to the unit discussion thread. There is no minimum or maximum in terms of the word count; however, the response should explicitly address all required components of this discussion assignment. The document should be prepared as a practical business deliverable (single-spaced) and reflect higher-level cognitive processing (analysis, synthesis, and evaluation).
Support the initial posting with at least 3 references of credible or peer-reviewed sources. The in-text citations and the list of references should be consistent with the APA writing style (7th ed.). To earn the maximum number of points for the initial posting, the overall quality of the writing should be consistent with that expected of a college student and industry professional.
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