The Harris Memorial Hospital’s key performance indicators have been examined. I have found the key performance metrics that are outside of alignment, highlighted the corrective actions, and, most importantly, discussed expanding in-house education for credentialed personnel as a manner of assisting the organization’s growth. The measurable metrics used to compare healthcare facilities are available’s performance to established targets, aims, standards, and various other healthcare organizations are known as crucial performance indicators. Subsequently is essential to evaluate the company’s operations, finances, and approaches by contrasting them with those of businesses in the same industry (Carini et al., 2020). It also tracks performance, measuring governance, individual performance, finance, and efficiency, as well as the advancement of the targets that give the company a path toward achieving its goals. According to its Harris Memorial Hospital monitor, numerous critical performance measures were out of position, including earnings, the current state of physical structures, and liquidity debt cost. Input, output, methods, effectiveness, and consequences are important healthcare variables.
The assets and techniques applied to a specific program are among the Harris Memorial Hospital’s contribution indicators. Examples of input resources include the number of sleeping arrangements, supplies, structures, employees, caseworkers, and machinery. Various amounts and efficiency of the products and services offered inside the facility are measured by its output indicators. The standard of patient treatment is one of the Harris Memorial Hospital’s outputs metrics. Process indicators track consistency, the customers who receive the customer support—such as the rate of filling and stock waste—as well as other operations. Efficiency is a measurement of how well and efficiently inputs and outputs work together to produce results. The results of the indicators, in the end, gauge the effectiveness of the health institution’s products and operations. The institution’s investment deficiency, which comprises revenue or net fixed investments, coding variables such as injectable medications without management, and market variables like inpatient revenue, have been identified among the important performance indicators.
To determine which KPIs were out of alignment, an investigation was done.
The evaluation of the critical performance indicator is crucial since it is utilized to track, analyze, and improve the effectiveness of the medical facilities, leading to better results for patients and greater satisfaction among patients. Setting up appropriate indicators for this medical facility is essential since doing so will enable performance to be improved, measured, reported, and compared to other healthcare institutions. Comparing the facility to the top regional and worldwide healthcare institutions also enables those possessing the stalk to evaluate the facility’s effectiveness. Investment insufficiency comprises market variables like inpatient revenue, coding variables like injectable drugs without management, and net permanent fixed assets or revenues. The Harris Memorial Hospital’s revenues or net fixed investments stand at 1.4. The number is low in comparison to the median U.S. demand of 2.5. The organization’s fixed assets are assessed based on their net value using net fixed investments. It is primarily determined by summing the purchase prices for every fixed asset, any subsequent enhancements, and then deducting the total cumulative depreciation. The turnover rate of fixed assets assesses the organization’s effectiveness in producing the current fixed assets. A greater ratio indicates more efficient fixed asset utilization by the business. This institution’s lower ratio demonstrates the organization’s poor performance. If the pharmaceutical product that calls for injection or infusions has been included without the administration process, coding variables include injectable medications without medication according to the claim type selected. The amount entered for this facility exceeded the necessary threshold of 10, reaching an excess of 24.1. Revenue from patients admitted could have helped the hospital perform more effectively in the competitive marketplace. Harris Memorial Hospital requires less money—30.5—than the median amount needed in the United States, a figure of 46.2. Minimal inpatient revenues result in low earnings while hospital costs rise. The enormous expense of maintaining the facility with no money puts the hospital at risk of having to stop providing care. Additionally, it may be necessary for the medical facility to take on additional debt to support its activities, which is problematic for the company’s operations.
The plan for corrective measures to align with every KPI.
I will offer a variety of corrective measures that Harris Memorial Medical Center can use to address the problems that have gotten out of alignment with this healthcare facility based on my study of the KPI via the medical center. This entails boosting sales, streamlining inventory management, including order processing, selling inventory, digitizing inventory and procurement systems, leasing rather than purchasing assets, and speeding up the recovery of unpaid debts. This healthcare facility is responsible for the upkeep of the operating infrastructure, ensuring compliance with regulations, and ensuring uninterrupted service delivery. Cost management and effective and timely job scheduling ought to have priorities. Patients are at risk when a pharmaceutical product that calls for injection or infusions can be found without an appropriate administration technique since there is an elevated likelihood of medical mistakes occurring without a defined procedure (Emes et al., 2018). The medical facility should adopt the SOPs that healthcare providers should adhere to while providing injectables for all types of medications. Improved patient outcomes, as well as a decrease in medication-related medical claims, will result from this. Harris Memorial Hospital’s patient income is inadequate, and it is important to determine why. Enhancing clinical care cooperation, simplifying discharge effectiveness, standardizing clinical interaction, and creating a collaborative treatment plan are some approaches to increasing inpatient income. Increasing patient contentment with healthcare will draw more people to the health center. The hospital must also increase its ability to handle patients by constructing new inpatient facilities, increasing the number of available beds, and providing high-quality services. The employees should participate in ongoing training in medicine, essential for providing high-quality services.
Increasing internal training for qualified workers
The enhancement of the standard of inpatient treatment is significantly aided by increasing in-house training for the certified staff. This is crucial because efficient educational courses are developed for the medical facility to boost retention and raise hospital morale by developing knowledgeable, motivated, and upbeat personnel. Additionally, improving in-house training for credentialed staff members enhances the hospital’s image, lowers the risk of medical malpractice claims, and contributes to the infirmary’s stellar standing (Chaghari et al., 2017). This is essential since it will raise patient satisfaction with the standard of care and increase the financial viability of the office. Training also aids a company’s survival and competitiveness in a cutthroat environment. Consequently, it should be structured to develop the employee’s useful skills and foster their independence and expertise. It also allows them to refresh their academic and practical understanding of their practice area. It promotes lifelong development and successful learning when nurses actively participate in continuing education courses. As a result, I suggest using this approach to raise staff and patient happiness, enhancing the hospital’s general effectiveness.
Carini, E., Gabutti, I., Frisicale, E. M., Di Pilla, A., Pezzullo, A. M., de Waure, C., Cicchetti, A., Boccia, S., & Specchia, M. L. (2020). Assessing hospital performance indicators. What dimensions? Evidence from an umbrella review. BMC Health Services Research, 20(1). https://doi.org/10.1186/s12913-020-05879-y
Chaghari, M., Saffari, M., Ebadi, A., & Ameryoun, A. (2017). Empowering Education: A New Model for In-service Training of Nursing Staff. Journal of Advances in Medical Education & Professionalism, 5(1), 26–32. https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5238493/
Emes, M., Smith, S., Ward, S., & Smith, A. (2018). Improving the patient discharge process: implementing actions derived from a soft systems methodology study. Health Systems, 8(2), 117–133. https://doi.org/10.1080/20476965.2018.1524405