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KEY PERFORMANCE INDICATORS
measurement = management
AGENDA
What are Key Performance Indicators (KPIs)?
Examples of KPIs
How are KPIs selected?
Alignment to Strategic Goals
IT KPI Examples
Questions
KPI DEFINITION
At an organizational level, a Key Performance Indicator (KPI) is a quantifiable metric that reflects how well an organization is achieving its stated goals and objectives.
EXAMPLES OF KPIS
HEALTHCARE – READMISSION RATES, CLINICAL OUTCOMES, COSTS PER TREATMENT, MORTALITY RATES, TIME BETWEEN ED ADMIT AND SEEING PHYSICIAN, LOS, HCAHPS SCORES, PROFIT MARGIN, COSTS AS A % OF REVENUE, FTE PER ADJUSTED OCCUPIED BED, PATIENT ENGAGEMENT
SUPPLY CHAIN – COSTS PER UNIT, SALES YOY, ON-TIME SCHEDULING AND DELIVERY
FINANCIAL – RETURN ON INVESTMENT, COSTS OF CAPITAL, REVENUES PER EMPLOYEE, MARGINS BY PRODUCT LINE
IT KPI EXAMPLES (NOT ALL-INCLUSIVE LIST)
Costs – Costs of IT as a % of budget, IT costs per employee, Avg costs per IT project, TCO, IT investments as a % of total investments
Incident Management – Uptime, response time, resolution time, MTBF (mean time between failures), avg # of complaints per employee, # tickets closed first call
Data Warehousing – Costs per terabyte (acquisition costs), Avg storage costs per terabyte
KPI SELECTION measurement = management
KEY FACTORS TO CONSIDER Understanding the Context
What is the vision for the future?
What is the strategy? How will the strategic vision be accomplished?
What are the organization's objectives? What needs to be done to keep moving in the strategic direction?
What are the Critical Success Factors? Where should the focus be to achieve the vision?
KEY FACTORS TO CONSIDER KPI Development
Which metrics will indicate that you are successfully pursuing your vision and strategy?
How many metrics should you have? (Enough, but not too many!)
How often should you measure?
Who is accountable for the metric?
How complex should the metric be?
KEY FACTORS TO CONSIDER KPI Development
What should you use as a benchmark? Standards?
How do you ensure the metrics reflect strategic drivers for organizational success?
How could the metrics be cheated, and how will you guard against this?
What negative incentives would be set up if this metric was used, and how will you ensure these incentives are not created?
TOOLS TO USE measurement = management
MEASUREMENT PLAN EXAMPLE
Hospital Area Key Performance Indicator Description Purpose for Tracking Data Location Data Owner Related KPIs/Data Collection Frequency Reports KPI to be used forEmergency Dept Patients LWBS - Target 2% Patients who left without being seen Understand patient flows
Workload impact on patientsPatient engagement opp's
EMR ED Administrator Daily at 7AM Hospital Ops DashboardCMS Payer reports
KPI Measurement Plan
DASHBOARD EXAMPLE
COMMUNICATION PLAN EXAMPLE
Objective Audience Purpose of communication What will be communicated How When Communication OwnerBring Awareness All Staff Build buy-in for strategy
Hold morale steadyKeep the focus on patients
How the change aligns to org vision and strategyThe value of the new EMR to patientsFinancialsNext stepsWhats needed from everyone
TownhallsPhysician MeetingsStaff MeetingsEmail
January 2016, dates TBD CIO, COO
Project Update Board of Directors Inform members on project statusAsk for inputBuild ownership
Project milestones achievedRisksCosts to dateShort-term wins
Board meetingEmail
25-Jan-16 CEO
Communication PlanInitiative: Implement EMR across organization
QUESTIONS measurement = management