NURS 6211 Week 7 Performance Measurements and Dashboards Essay Assignment Paper

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NURS 6211 Week 7 Performance Measurements and Dashboards Essay Assignment Paper

NURS 6211: Finance and Economics in Health Care Delivery | Week 7

You have just been informed that the administrative offices at the university have proposed eliminating your clinic to reduce costs and instead are considering outsourcing student health services to a local urgent care center. You feel this is a huge mistake and would negatively impact students’ ability to access health care. In order to convince those in the administration to keep your clinic running, you must make a compelling case as to your high level of performance. What types of information would you use to make your case? Effective organizations track key performance indicators to monitor progress. What key indicators would demonstrate the success of your clinic?

This week you examine performance reports and how they can be used in financial decision making.

Learning Objectives

Students will:

• Assess performance based on performance reports
• Analyze performance indicators in health care organizations
• Evaluate the types of information to include in financial dashboards

Learning Resources

Note: To access this Week’s required library resources, please click on the link to the Course Readings List, found in the Course Materials section of your Syllabus.

Required Readings

Baker, J. J., Baker, R. W., & Dworkin, N. R.  (2018). Health care finance: Basic tools for nonfinancial managers (5th ed.). Burlington, MA: Jones and Bartlett Learning.

• Chapter 12, “Financial and Operating Ratios as Performance Measures” (pp. 127-134)This chapter introduces a number of different tools that can be used to measure the performance of an organization. These include liquidity ratios, solvency ratios, and profitability ratios.

Kleinpell, R. M. (2009). Analyzing economic outcomes in advanced practice learning. In Outcome assessment in advanced practice nursing (2nd ed.). New York, NY: Springer Publishing Company.

This chapter outlines five different types of economic outcomes that can be used by advanced practice nurses for assessing costs and determining performance benefits within a health care organization.

Serb, C. (2011). Effective dashboards: What to measure and how to show it. Hospitals & Health Networks, 85(6), 40.

In this article, the authors discuss automated systems known as executive dashboards, which are designed to highlight key data. Additionally, the article describes the components most experts agree should be included on an executive dashboard.

Nash, M., Pestrue, J., Geier, P., Sharp, K., Helder, A., & McAlearney, A. (2010). Leveraging information technology to drive improvement in patient satisfaction. Journal for Healthcare Quality: Promoting Excellence in Health care, 32(5), 30–40.

This article explores how senior leaders can facilitate improvement in patient experience and satisfaction by strategic improvement and setting goals. This article presents a case detailing how the Ohio State University Medical Center (OSUMC) used information technology to formulate a strategy to improve patient experience.

Barta, A. (2010). Dashboards: A required business management tool. Biomedical Instrumentation & Technology, 44(3), 228–30.

This article describes how dashboards became an integral financial and management tool for Trinity Health Clinical Engineering when it centralized the clinical engineering functions of five hospitals.

National Database of Nursing Quality Indicators. (2014). National Database of Nursing Quality Indicators. Retrieved from NDNQI :http://www.nursingworld.org/MainMenuCategories/ANAMarketplace/ANAPeriodicals/OJIN/TableofContents/Volume122007/No3Sept07/NursingQualityIndicators.html

This website is a repository for nursing quality indicators.

Wadsworth, T., Graves, B., Glass, S., Harrison, A., Donovan, C., & Proctor, A. (2009). Using business intelligence to improve performance. Healthcare Financial Management, 63(10), 68–72.

In this article, the authors describe a case study involving the Cleveland Clinic Foundation’s management supervision and how they kept track of its key performance indicators (KPIs) to aid in reducing operational costs and improving quality of care.

Required Media

Laureate Education (Producer). (2012). Dashboards. Baltimore, MD: Author.

Note: The approximate length of this media piece is 6 minutes.

In this video, William Ward discusses the use of dashboards as a tool for tracking organizational performance. He compares different types of dashboards and describes how to select the most relevant data to include on a dashboard.

Discussion: Performance Reports/Dashboards

Performance reports are a valuable tool for gauging the financial well-being and progress of a health care organization. When properly designed, these reports can provide data on key measures, quality indicators, performance of operations, patient satisfaction, personnel, and facility capacity.

Have you ever seen the cockpit of an airplane? The dashboard is covered with a variety of knobs and gauges. Having a pilot who understands the meaning of the data contained on the dashboard is essential for passenger safety and for reaching the correct destination in a timely fashion. Similarly, a dashboard for your organization can supply a wide variety of performance information to assist in the financial decision making process.

In this Discussion, you will describe a dashboard that would be useful for you in your current position and organization (or one with which you are familiar).

To prepare:

• Review this week’s Media program, Dashboards.
• Consider your own organization (or one with which you are familiar) and the key information that would be useful for decision making.
• Develop a list of key performance indicators in the following categories that would be useful for your situation. Include:
  • 2–3 financial indicators
  • 2–3 operational indicators
  • 2–3 satisfaction indicators
  • 2–3 quality indicators

By Day 3

Post describe the specific indicators you selected for each category and explain why you chose those particular ones. Describe whether each indicator is a leading or trailing indicator and how this particular combination would provide the best overall view of the state of your organization. Assess how having a dashboard such as this would assist in decision making.

Note: You do not have to actually create the dashboard, but just describe the indicators you would include.

Read a selection of your colleagues’ responses.

By Day 6

Respond to at least two of your colleagues on two different days using one or more of the following approaches:

• Ask a probing question, substantiated with additional background information, evidence or research.
• Share an insight from having read your colleagues’ postings, synthesizing the information to provide new perspectives.
• Expand on your colleagues’ postings by providing additional insights or contrasting perspectives based on readings and evidence.

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