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A New Approach to Benchmarking and Performance Management: How One Health System Transformed Opportunities into 8% System-Wide Savings

11 Apr 2017 12:06 PM | Ronald Gallagher (Administrator)
Speaker: Linda Albery

Summary:
The imperative to elevate clinical, operational and financial performance to new levels remains clear, particularly with today’s uncertainty. Hospitals are dealing with ever-tightening operating margins and the need for greater cost effectiveness has moved from a conceptual goal to a critical requirement. How do you understand and benchmark your current cost position? How do you identify areas for possible improvement? How do you get your staff and physicians engaged in the process? How can you create a culture of collaboration, inclusion and excitement? Learn how one health system used accurate, meaningful comparisons across their system and across the industry and was able to:
  • Identify opportunities to streamline processes and understand labor costs
  • Integrate clinical and cost data to help identify gaps
  • Build trust in the data and drive engagement internally
  • Reduce costs and improve efficiency, generating $150 m in real savings
Learning Objectives:
  • Define how rigorous and transparent benchmarking can show meaningful peer comparison, highlight internal variation and pinpoint opportunities which provide the best ROI.
  • Define actionable guidance on how to foster data-driven decision-making to build trust and collaboration between leaders, clinicians, finance and support departments
  • List ways your organization can identify appropriate targets by operational function and department and engage managers around the opportunities that the data reveals

Speaker Biography:
Ms. Albery’s 25 years of broad and diverse experience in healthcare leadership have included positions as senior vice president for business development and client operations with a major revenue cycle provider and chief operating officer with a large Midwest tertiary hospital.
Field of Study: Specialized Knowledge
Delivery Method: Group Internet Based
Program Level: Intermediate
Prerequisite(s): None
Advanced Preparation: None
Cost: Free
CPE Hours: 1.0 Hours CPE

Refund Policy:
Request for cancellation and refund of registration fees must be received at least 10 business days prior to the event via e-mail to programs-education@tnhfma.org. An administrative fee may apply.

Questions or Complaints:
Please direct questions about CPE, including certificates, to our CPE Coordinator, Lee Ann Burney, at cpe@tnhfma.org. For complaints regarding educational programs provided by TNHFMA please contact our Programs and Education Chair, Pam Jones, at programs-education@tnhfma.org.
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