Ten Important Healthcare Metrics That Need To Be Tracked

by Living Wisely
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Healthcare Metrics are performance measurements that help Doctors and health practitioners understand how their health facility or hospital is performing. Some of the characteristics of a good healthcare metrics systems are;

  • They are well defined,
  • They are Quantifiable,
  • They are thoroughly communicated
  • They are crucial to achieving strategic goals.

Healthcare Metrics which can also be referred to as KPI (Key Performance Indicators), can be measured using a Healthcare Dashboard. A good example of a Health Dashboard that fulfills these criteria of a good KPI system to measure healthcare metrics is Leading Wisely.

There are basic healthcare metrics and key performance indicators that hospitals need to track. Below are listed 10 of these healthcare metrics and why they need to be tracked.

  1. Bed Turnover aka Length of Stay (LOS): The shows how long patients stay admitted in the hospital or how quickly they are discharged. This will help hospitals operations track efficiency and optimize its resources. If there is low bed turnover, hospitals can work towards allocating resources and providing maximum care to reduce the length of stay in the hospital.
  2. Patient Wait Time: This shows/calculates the average amount of time a patient waits before they can see a doctor and/or nurse. It also shows how long patients wait in the emergency room before they are attended to. Knowing this metric will helps hospitals and health organizations work towards improving patient satisfaction.
  3. The number of Patient bed and rooms in use at one time: This tracks the average occupancy of the hospital at a particular time. This way it can be decided if more resources are needed and help the hospital prepare for peak periods. For example during flu season.
  4. Staff-to-patient ratio: This shows the average number of patient per staff in a facility at a given time. This way resources and manpower can be allocated appropriately.
  5. Patient satisfaction: This tracks the overall and average satisfaction of patients. If patient satisfaction is low or decreasing, health facilities can take steps to improve. When average satisfaction is high, health facilities can use it as an advantage to attract more patients, investors and even good recognition. This leads to the next healthcare metric
  6. Tracking Media mentions and presence: In the world of social media today and extremely dynamic news environment, keeping track of the organization's public perception and mentions in the news is crucial. That way they can stay ahead of bad press and correct negative public opinion while promoting good press. Nobody wants to go to a bad hospital.
  7. Average Treatment charge: This tracks how and what patients are charged to prevent discrepancies, unfairness, mistakes or loss of revenue.
  8. Claims Denial rate: This tracks how often insurance claims are denied or affected. This is very crucial as it shows the state of the health facilities revenue stream. A high claims denial rate shows a dent in revenue stream and will need to be addressed instantaneously.
  9. The number of Mistakes or errors: Unfortunately, hospital errors are the third leading cause of death in the United States. The problem is human error cannot be overemphasized. Tracking the number of such occurrences and making ways to reduce such errors are crucial) and misdiagnosis is crucial. Both can also lead to fatal consequences.
  10. Patient Follow-up: This measures the number of patients who receive follow-up after they’ve been discharged from the hospital. Proper patient follow-up could reduce the hospital re-admittance rate and prevent 1-year mortality.

Leading Wisely is a Platform that can help track these ten healthcare metrics and much more. It makes things easier for hospital and healthcare professionals and improves efficiency.