Overview: Although a business must be profitable to be successful, there is more to success than the bottom line. By tracking and appropriately utilizing the right metrics, your organization can greatly increase its chances of success.Measuring performance is crucial to ensuring efficiency and cost-effectiveness.
Health care managers can use business metrics to measure all aspects of their organization's performance. Measuring performance using business metrics can help you to compare results with internal expectations and external results. Knowing what to measure and which business metrics to use can help you to determine which metrics will provide the best insight into any specific issue.
This Webinar offers ways to maintain and analyze your company's metrics, set goals and monitor performance. These measurements become the basis for improving organizational efficiency and effectiveness and to allow on-going benchmarking.It includes a discussion of what successful companies do in their business that helps them achieve their success.
The Webinar will offer business improvement ideas to assist the attendee in achieving, maintaining or improving business excellence.
It will answer such questions as:
How can I survive reduced reimbursement levels?
How can I reduce operating costs/?
How do I improve business efficiencies?
How do I track performance?
What is the industry standard?
How am I doing compared to others?
These tools can become the basis for improving organizational efficiency and effectiveness and to allow on-going internal as well as external benchmarking on a "real-time" basis.To provide performance measurement tools to help improve business processes and increase profitability through enhanced efficiencies.
The data driven business:
Knows its cost of doing business
Defines and standardizes work processes
Knows how performance is trending and how it stacks up versus your competition
Continues to improve, reinventing itself
Why should you attend: If a leadership team isn't reacting to daily or weekly reports, they are late in responding. To offset declining reimbursements, rising labor costs and razor-thin margins with smarter faster, better management, efficient, effective and relevant business metrics are essential.Knowing which factors cause problems is the first step to solving them.
Measure the impact of changes on a process
Identify and understand relationships that might help explain variation
Control a process (monitor process performance)
Avoid solutions that don't solve the problem
Reduce waste and identify and put a stop to inefficient processes.
Companies that pay attention to Business Metrics are able to spot problems and opportunities first. Having a firm grasp on where you are now enables you to establish realistic goals for the future.
The elements that a metric driven company looks at include:
Trend line Forecasts
Areas Covered in the Session:
Why Business Metrics?
The Data Driven Business
Measuring Business Processes
Making Metrics Work for You
Who Will Benefit:
Business Development Managers
Upon completion of this activity, participants will be able to:
Analyze metrics, set goals and monitor organizational performance.
CME Credit Statement
This activity has been planned and implemented in accordance with the Essential Areas and Policies of the Accreditation Council for Continuing Medical Education (ACCME) through the joint sponsorship of CFMC and MentorHealth. CFMC is accredited by the ACCME to provide continuing medical education for physicians.
CFMC designates this educational activity for a maximum of 1 AMA PRA Category 1 Credit™. Physicians should only claim credit commensurate with the extent of their participation in the activity.
Other Healthcare Professionals Credit Statement
This educational activity has been planned and implemented following the administrative and educational design criteria required for certification of health care professions continuing education credits. Registrants attending this activity may submit their certificate along with a copy of the course content to their professional organizations or state licensing agencies for recognition for 1 hour.
It is the policy of CFMC and MentorHealth that the faculty discloses real or apparent conflicts of interest relating to the topics of the educational activity.
All members of the faculty and planning team have nothing to disclose nor do they have any vested interests or affiliations
Obtaining Certificate of Credit
Colorado Foundation for Medical Care (CFMC) hosts an online activity evaluation system, certificate and outcomes measurement process. Following the activity, you must link to CFMC's online site (link below) to complete the evaluation form in order to receive your certificate of credit. Once the evaluation form is complete and submitted, you will be automatically sent a copy of your certificate via email. Please note, participants must attend the entire activity to receive all types of credit. Continuing Education evaluation and request for certificates will be accepted up to 60 days post activity date. CFMC will keep a record of attendance on file for 6 years.