Smart KPIs are absolutely essential in the health care supply chain because they provide hospitals with the data visibility that is necessary for guiding and achieving inventory optimization and cost savings goals and controlling supply spend; they are, in fact, the cornerstone of a competitive and more strategy-oriented supply chain.
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The CQO movement is the health care supply chain’s fitness tracker. It engages supply chain with leaders across the healthcare environment to apply a new approach. To start with your own CQO KPI, look for your Bigfoot within your organization to identify top priorities. After looking at those top priorities, apply the CQO perspective.
Cost per case is a valuable measure because it captures multiple data points. As reports are developed and used, CPC can prove a powerful tool for finding cost reduction and process improvement opportunities—and that can impact your hospital’s bottom line.
Successful CQO initiatives must start with data that is reliable and accurate, but it takes physician leadership to make sure it is also meaningful. With the complex array of data sources available today, special skillsets are needed to drive a clinically oriented data strategy and build an architecture of analytics that can be drilled down to physician level and individual cost drivers.
By: Vizient Download Article