Benchmarks & Best Practice
Benchmarking is relevant in healthcare as there is much money to be saved by mining the potential for greater efficiency. According to the American Hospital Association, there are 5,723 hospitals in the U.S. with 893,851 physicians split almost 50/50 between primary care and specialty. Among this statistically significant sample set, there are numerous variations in practice efficiency and the quality of patient care delivered.
Understanding the differences in practices in order to identify high quality and effective practitioners can distinguish best practices and set benchmarks for excellence. Physician alignment and engagement are not elusive goals. All physicians strive to provide optimal patient care while ensuring economic viability. By leveraging analytics and understanding the challenges of the physician’s landscape, organizations can help ensure the delivery of quality care and improve financial performance while promoting physician success.
Using Clinical Benchmarks to Improve Provider Performance
Clinical analytics are closely tied to quality reporting and benchmarking provider performance. With value-based care, clinical and financial performance are vital for healthcare organizations to be able to pinpoint the weakest links in the chain of quality.
Stakeholders often worry that the time and effort it takes to report on performance indicators and clinical quality metrics are too cumbersome and too time consuming. But, Big Data has played a significant role in increasing the level of patient safety, demonstrating progress toward reducing healthcare spending and coordinating care across disparate systems. Quality healthcare analytics tools help providers address a myriad of questions from how to enhance patient safety to how to reduce readmission rates.