Benchmarking Metrics That Make Sense

Learn the What, When, Why and How of Benchmarking

Publish Date: November 09, 2018 | Content Areas: Performance Metrics | Tags: Analytics, Benchmarking | Formats: On-Demand Recording

Member Price: Free | Non-Member Price: $99
CPE Credit: 1
Duration: 60 minutes

Overview

Every organization has a variety of internal and external benchmarks at their disposal. It is easy to get lost in the data, thus it is necessary to determine what metrics to utilize and how they can affect and guide your organization. Metrics need to be practical for each individual provider, and the supply chain must choose its measurements and comparisons carefully.

In this on-demand webinar, the presenters guide attendees to understand meaningful benchmarking and discuss several scenarios, useful metrics and variation considerations to help make appropriate decisions that can improve supply chain performance.  

Learning Objectives

  • Identify which supply chain metrics align with your organization and department goals and can lead to improvements.
  • Determine which group to compare your metrics: your own organization, GPO metrics, other individual organizations, industry leading practices, etc.
  • Communicate the variances in your metrics with industry leading practice or other organizational benchmarks.

How this session relates to the Cost, Quality and Outcomes (CQO) Movement: Good metrics will help you focus on the areas that need your immediate efforts, and will often result in reduced cost through the elimination of waste, or the ability to identify process inefficiencies, leading to improved quality of data and patient outcomes.

Cost – Benchmarking our “cost” whether pricing or procedural, is imperative. It allows our organization to understand market changes, which could allow for further cost reductions.

Quality – Benchmarking our quality data not only allows us to forecast performance trends (both positive and negative) but guides the organization as it looks to improve patient quality and reimbursement within today’s alternative payment models.

Outcomes – Benchmarking outcomes when tied to cost and quality allows an organization to make the appropriate supply or procedure decision while taking the highest level of care into consideration. 

Target Audience: SC directors and managers, clinical resource Mgr, purchasing supervisor, OR directors, procedural departmental leads, SVP, VP and value analysis leads


Presenter: Kelli McRory, Director – Clinical Strategic Sourcing, Jefferson Health

Presenter: Stewart Layhe, Director of Support Services and Supply Chain, Denver Health