Question
Taskforce report
Introduction: In this
section, you will discuss the KPIs of the hospital’s HIM department and the
relationship of these KPIs to enterprise-wide revenue. A. Summarize the current
environment of the HIM department, using the SWOT analysis that you developed
in Module Three to support your response. B. Briefly explain the connection
between the three KPIs of the HIM department and the hospital’s overall
revenue.Conclusion: In this section, you will discuss how
you will measure the success of your recommendations and how those initiatives
will affect enterprise-wide revenue. A. Determine the specific benchmarks
needed to evaluate the success of your proposed strategic initiatives, and
explain how they will be used. B. Summarize how your proposed initiatives for
the HIM department support the hospital’s goal of increasing revenue.
Expert Solution
The
connection between KPIs and improving an organization’s revenue
Bed
turnover measures the length of time needed for a checked-out room in a
hospital to be occupied. Low turnover rates should be measured to determine if
adequate care was granted to patients, whereas high turnover should be measured
to determine if a patient was neglected ("16 Top Hospital KPIs for 2021 Reporting", 2021). Thus, a
high turnover will lead to increased revenue. Secondly, the frequency of
medication errors measures the competency of nurses; therefore, if the hospital
has a low frequency of errors, it will lead to increased revenue due to the
avoidance of lawsuits. Finally, staffing skilled employees and regular training
measure the firm's operations in terms of efficiency. Therefore, good staffing
decisions will lead to efficiency and increasing revenue.
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