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Typical Performance Metrics Most Health Care Agency CFOs Use

by Evans Walsh seo consultant

Every 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.

 


About Evans Walsh Innovator   seo consultant

21 connections, 0 recommendations, 52 honor points.
Joined APSense since, December 15th, 2017, From lasvegas, United States.

Created on Apr 22nd 2019 07:06. Viewed 53 times.

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