Typical Performance Metrics Most Health Care Agency CFOs Use
by Evans Walsh seo consultantEvery
home care agency has to rely on the performance of the caregivers for their
business success and growth. Better performance by the caregivers will ensure better
satisfaction of the clients which is the key to success.
It
is for this reason most of the CFOs of almost home care agencies use specific
metrics that help them to measure the level of performance by the caregivers
as well as the agency on the whole. Therefore, if you want to manage your
service delivery and care well, you should know and use these metrics for the
better of your agency.
In
fact, there are seemingly endless numbers of metrics that you can use to
effectively and easily evaluate the level of performance and take necessary
actions accordingly to optimize care. These metrics will help you in all sorts
of jobs for that matter such as:
·
It will help you
to track successfully and accurately the number of visits a specific care provider
has made in a day
·
It will help you
to calculate the percentage of the visits that specifically started and ended
on time
·
It will make it
easy for you to know where exactly you should focus your attention to
·
It will help in
better monitoring and clearer understanding of the care provider and
·
It will help you
to make all critical decisions with more confidence as everything will be
properly and adequately supported.
However,
you will need to select and use the right metrics for that matter because if
you use the wrong metrics it will provide you with minimal or no benefits as
you will be chasing areas of improvements that may not exist.
Choosing the right KPIs
When
you choose the metrics to measure the performance of the caregivers, there are a
few things that you should keep in mind.
·
The first thing
you should know before you start with it is that you should never intend to
monitor too many of it at one time. This will unnecessarily overwhelm your work
as well as your staff.
·
Next, you must
focus on choosing the right Key Performance Indicators or KPIs. As you may know that there are
several such KPIs but all may not be useful for a home health
care services agency. Only the right ones will improve the service quality of your agency and
the outcomes for your clients, payers and your agency on the whole.
·
Lastly, you must
know exactly how you can determine what the right KPIs for your agency are.
Since
ultimately the successful outcomes of your agency will entirely depend on the successful
delivery of care, you must make sure that the performance metrics you choose is
able to track this accurately. This will help you to determine the service
standards more precisely considering a few specific factors. It will help you
to know whether the service was delivered:
·
At the right time
·
At the right
place
·
According to the care
plan for the specific client and
·
Within the right
cost parameters.
All
these parameters are very useful for all home care agencies. If you are
wondering how, then here is a step by step exploration:
Right
time and place:
It
is very critical to monitor the ‘right place and right time’ factor of an
activity. However, irrespective of its complexity, it is important to know
where a particular caregiver was at any point in time. This will help the operations
staff to access alerts and real-time GPS visibility. This will in turn help
them to know the answers to several imperative questions such as:
·
It will help you
to know whether the care provider was as the designated place or not by using
the Electronic Visit Verification metric.
·
It will provide
the proof of visit and at the same time it will notify your operations team about
the arrival and departure time of each care provider right from the location of
the client.
·
It will also
ensure the safety aspect of the care provider apart from their efficiency and
punctuality.
On-time
care service delivery will improve client satisfaction, outcomes as well as billing the process with the real-time proof of visits.
There
will be no missed check-ins or checkouts, omissions, and exclusions. If there
are any the operations team can confirm it immediately whether or not the
caregiver is safe or need any assistance or changes on a visit.
When
you ensure such activity and performance metric is in place, your business will
be free from the risks of:
·
Failing to
provide time-sensitive care on schedule
·
Having incomplete
or missing visit documentation for audits and payments
·
Increasing
adverse events due to missed care
·
Failing to locate
the care provider in real-time.
These
metrics will also ensure that the care service was delivered according to the
schedule and plan. This will, in turn, ensure positive client outcomes, high
level of satisfaction and efficient repayment for care services. It will help
in careful and accurate monitoring and work accordingly.
In
case of any variance in service quality, you can trigger alerts for task exception,
prompt additional investigation and secure communication with the client care
team. You will be able to make changes in the care plan according to the info received
or followed to meet the expectation or service quality and duration of it.
If
here is any variance in the duration of service it will indicate that a care
provider is either over serving r underserving a client. This info will enable
the operations staff to quickly and properly intervene and amend the situation.
Lastly,
it will help you to determine the cost parameters that will help inaccurate
billing and timely payments. You will be able to overcome the challenge of achieving
cost savings without sacrificing client satisfaction factor. All you have to do
is understand and leverage the three specific metrics such as:
·
Accuracy in travel expenses per incidence of care
·
Duration of such
incidence and
·
The number of
visits completed daily.
All
these parameter data will help you to align the budget with actual cost and abate
potential revenue leaks.
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Created on Apr 22nd 2019 06:06. Viewed 271 times.