DQ What type of staff performance indicators would you monitor to ensure you were meeting your budget? NUR 621 Topic 7 DQ 2

DQ What type of staff performance indicators would you monitor to ensure you were meeting your budget? NUR 621 Topic 7 DQ 2

REPLY TO DISCUSSION

The healthcare industry is constantly changing, and healthcare organizations must ensure standards are maintained and monitored to thrive and function successfully. Healthcare indicators help monitor how well organizations are functioning and show areas that need improvement. “Key performance indicators are quantifiable measurements that show how well an organization, team, or individual is performing against a predetermined goal or objective” (Mind Tools, n.d.). Performance indicators measure how well healthcare organizations operate in managing utilization which is the demand for services by consumers (Penner, 2017). Financial indicators measure the monetary values in healthcare organizations (Penner, 2017). Healthcare facilities must create a balance in ensuring the best patient care while managing staffing, resources, and associated costs. Some significant performance indicators to consider ensuring facilities stay within budget are staff-to-patient ratio, bed occupancy rate, average hospital stay, treatment costs, patient satisfaction, and employee satisfaction. To monitor performance indicators, facilities must track records and progress, generate reports and compare to see if any improvement is needed; doing so helps to ensure positive patient outcomes and organizational success.

References

Mind Tools. (n.d.). Performance management and KPIs. https://www.mindtools.com/pages/article/newTMM_87.htm#:~:text=A%20Key%20Performance%20Indicator%20(KPI)%20is%20a%20quantifiable%20measurement%20that,a%20predetermined%20goal%20or%20objective.