Patient Satisfaction across several areas can be measured through a survey with a scaled basis so as to quantify the results. Physician Care -Patient satisfaction with the perceived skill, courtesy, sensitivity, level of communication, and efficiency of care provided by physicians. Support Services -the courtesy of hospital support staff, as well as the quality of food served. Housekeeping – patients’ overall impression of housekeeping services provided in the hospital; their opinion of the cleanliness of the hospital, their room, and their bathroom; and the courtesy of housekeeping staff.
Coordination of Care – the coordination of care among the various caregivers, communication among caregivers, and timeliness of service. Continuity of Care -the preparation of patients for going home by hospital staff, discharge arrangements, and follow-up arrangements. Financial Indicators Total Margin (%) Total Margin is an indicator measuring financial viability and expected long-term financial health. It is strongly influenced by positive financial outcomes on a yearly basis. It is calculated using the following formula: [Total Revenues – (Total Expenses – Facility Amortization), excluding Externally Funded Research Projects] * 100 Revenues, excluding Other Vote, OHIP, Grant, Donation, Internal Recovery, and Externally Funded Research Revenues.
Days in Inventory Days in Inventory is another measure of a hospital’s efficiency. It is calculated using the following formula: Year-End Inventory Balance Average Daily Inventoried Supplies Expense Working Capital (%) Working Capital is another measure of a hospital’s liquidity. The formula used to calculate this indicator is: [Current Assets – Current Liabilities excluding Deferred Revenues] * 100 Total Revenues, excluding Internal Recovery Revenue Equipment Expenditure (%)
Equipment expenditure is an indicator measuring hospital capital that examines the expenditures on capital equipment. The formula used to calculate this indicator is: [Equipment Maintenance, Replacement of Major Equipment Parts, Amortization on Major Equipment, Net Gain/Loss on Disposal, Interest on Major Equipment Loans, Rental/Lease of Equipment, Minor Equipment Purchases, and Equipment Expense not Elsewhere Classified] * 100 Total Expenses, Net of all Recoveries System and process alignment and innovation.
Adoption of New Technology
To what extent does the hospital stay upgraded with the latest medial innovations and upgraded processes and systems. Realignment of skills of physicians and hospital staff with latest standards Benchmark standards What kind of quality certification has the hospital adopted and how effectively are they able to achieve the standards. CASE The Duke University Health System uses the balanced scorecard to identify specific measures under the four perspectives to help evaluate individual pay and performance by linking it to the organisation”s DUHS has set up goals in each of these areas. FINANCES GOAL: Generate sufficient resources to reinvest in people, technology, buildings, research, and education.