Benchmarking
In order to identify important operational and financial indicators, it is essential to review historical and current data for competitors as well as industry leaders. This creates a framework for future hospital projections and strategies. American Healthcare Solutions’ Benchmarking Services all follow a systematic approach to evaluating, comparing and adopting industry practices. By following Best Practice standards, hospitals are able to reduce cost while simultaneously enhancing quality.
Realizing Realistic Goals
Through a consistent process of measuring services and comparing benchmarks, AHS enables clients to improve upon patient care delivery models and overall operational efficiency. Careful data analysis provides a set of realistic goals that are designed to promote cost savings, increase market share, and result in a greater patient experience.
| Benchmarking Services | |
|---|---|
| Financial & Operational | Organizational benchmarks are developed against industry leaders and regional competitors based on 80 common financial and operational indicators. |
| Hospital Trend Reports | A three year hospital trend analysis based on DRG and/or MDC is completed and benchmarks are established against regional competitors. |
| Hospital Performance & Strengths Reports | Pricing patterns are examined and detailed information on average reimbursement and cost per case are provided. This analysis determines the strengths of an organization compared to regional peers. |
| DRG Coding Analysis | Facility performance is compared to local, regional, and industrial peers. DRGs with coding anomalies are identified by focusing on DRG pairings. |
AHS Benchmarking Services can be applied to many facets of an organization including:
Profitability Indicators
Liquidity Ratios
Capital Structure Ratios
Asset Efficiency Ratios
Volume Indicators
Length of Stay Indicators
Payer Mix Indicators
Price Indicators
Cost Indicators
"Our organization, like most New York hospitals has been challenged financially. We wanted an objective assessment of our organizational capacities at a high level and a review of what we might do to improve our position in the market. We were referred to American Healthcare Solutions and retained them to deploy their Organizational Assessment Program. Our expectations were exceeded. They gave us a much clearer understanding of the health status of our communities of interest, opportunities for financial improvement and organizational changes that will serve us well for years to come. We feel we have a long term partnership with American Healthcare Solutions to help us in a wide variety of challenges that may emerge from time to time. They have been respectful of our board members, medical staff and each member of our management team. They have our unqualified recommendation to any organization not quite sure of their current strategic operational status."
Jim SinnerPresident and CEO,
Medina Memorial Health Care System
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