We are familiar with the use of our dashboard in our car where we can see basic information such as our speed and how much gas we have left in the tank. Most cars now have analytics that can tell you how many miles you are getting per gallon of gasoline, etc.
It is quite common for an organization to have dashboards that are created from Key Performance Indicators (KPIs). ints such as Key Performance Indicators (KPI), benchmarks and other metrics to help us monitor the health of our department, a specific process, or the entire organization.
Our readings for the week include this overview with more detail about how dashboards are created and used — https://www.smartsheet.com/all-about-kpi-dashboards.
For example, we discussed this week the various benchmarks we might use to measure the performance of our revenue cycle. Your deliverable for this week will be to create a dashboard using Excel with formulas that would allow you to keep your fingers on the pulse of a specific function or process. While the examples in our reading are very complex and comprehensive, you will create a very simple dashboard to demonstrate your understanding of this concept.
Assignment
Please use the resources below to create an Excel spreadsheet. You may use the data below from BJC or from another source; if you select another source, please indicate some information about the source to give your data context.
Your spreadsheet may cover revenue cycle benchmarking as we have discussed this week or can cover any other data that might be benchmarked or measured in a healthcare organization.
While the resources below get detailed and discuss pivot charts and complex Excel techniques, you are only required to create a dashboard that includes the following elements:
Title for Spreadsheet
Appropriate Detail Such as Organization or Department
At least two metrics to measure
A minimum of two rows of data
A minimum of three columns of data
Include at least one formula
Add a description of who might use this dashboard and for what reason.
Optional: Enhance cells with borders and shading, etc.
Assignment Resources
You will want to use formulas to calculate some metrics or ratios that will help you compare the current state with previous data.
You may certainly use data points and thoughts from the discussion this week about revenue cycle benchmarking to create your dashboard. Or, you may widen your lens to create a dashboard that would cover other aspects of a healthcare organization.
Key Performance Indicators (KPIs)
HFMA has two sets of MAP Keys—one for hospitals and health systems and another for physician practices. The MAP Keys are strategic key performance indicators (KPIs) that set the standard for revenue cycle excellence in the health care industry.
Annual Reports
Performance data is often communicated to shareholders and the larger community in the company’s annual report. Take a look at BJC By the Numbers from their 2018 Annual Report.
Financial Statements
The data summary presented in BJC’s Annual Report can be further investigated in the company’s financial statements. For example, BJC’s 9,236 employees all earn a salary. The financial statements offer a glimpse into the cost of theose salaries for both healthcare services and administrative services.
Visit BJC Healthcare Consolidated Financial Statements Years Ended December 31, 2018 and 2017.
