30 Best Healthcare KPIs and Metric Examples

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30 Best Healthcare KPIs and Metric
Examples
The world of healthcare is dynamic. With this,
the system goes through changes from time to
time. Now, with the latest updates in healthcare
policies, healthcare providers and organizations
need to adhere to them. This has made them look
into healthcare KPIs and metrics as well to
ensure if they are aligned with the new
policies. There are many questions that come from
this, like what are healthcare KPIs? Why is it
important to track KPIs and metrics? and much
more. If you are getting confused with them,
worry not! This blog will answer all your
questions and give you the best healthcare KPIs
and metric examples. But before we go on to these
examples, lets understand what KPIs and metrics
are and why they are important.
What are Healthcare KPIs and Metrics?
KPIs or key performance indicators in healthcare
and metrics can be termed as measurements that
are used by healthcare organizations to measure
their performance in numbers, monitor their
progress, and make decisions based on the same.
These metrics cover various aspects of the
healthcare organizations operations, financial
health, patient care, and much more. It is an
important part of an organizations healthcare
revenue cycle management.
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By tracking and analyzing these key performance
indicators in healthcare and metrics, healthcare
providers can identify areas of improvement,
implement best practices, and ensure that they
are delivering high-quality care and services.
Why is it Important to Track KPIs and Metrics?

• There are many reasons why it is important to
  track key performance indicators in healthcare.
  The major ones are as follows
• Performance Assessment
• Key performance indicators in healthcare are the
  conventional way to assess the performance of
  various departments of healthcare organizations.
  This helps them to identify their strengths and
  weaknesses and help them improve in the required
  areas.
• Goal Alignment
• While KPIs help assess strengths and weaknesses
  in various areas of healthcare organizations,
  metrics help to get a framework that aligns with
  the goal of the healthcare organization to get
  the desired results. They also ensure that the
  organizations efforts are directed towards the
  goal.
• Data-Driven Decisions
• Tracking key performance indicators in healthcare
  helps to make decisions based on the calculated
  data. This helps healthcare organizations to make
  decisions based on evident information about
  their current performance instead of assuming
  them.
• Operational Efficiency
• Key performance indicators in healthcare and
  metrics help understand the inefficiencies in
  the healthcare organizations workflow and help
  them streamline their operations and improve
  allocation of resources. They also help enhance
  healthcare revenue cycle management.
• Patient Care Enhancement
• Key performance indicators in healthcare and
  metrics not only help healthcare organizations
  streamline their work to achieve the desired goal
  but also monitor patient- centric KPIs that help
  improve patient care and safety.
• Quality Improvement
• Metrics related to clinical outcomes, patient
  safety, and infection rates drive continuous
  quality improvement efforts, promoting excellence
  in care delivery.

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• Staff Performance
• Employee-related KPIs assist in evaluating staff
  performance, training needs, and satisfaction,
  contributing to a motivated and skilled
  workforce.
• Patient Satisfaction
• Tracking patient experience metrics helps
  healthcare providers tailor services to meet
  patient expectations, leading to higher patient
  satisfaction and loyalty.
• Benchmarking and Comparison
• KPIs allow organizations to benchmark their
  performance against industry standards and
  competitors, fostering a culture of innovation
  and excellence.

30 Best Healthcare KPIs and Metric Examples
There are various areas of healthcare
organizations that are assessed with the help of
key performance indicators in healthcare and
metrics. Here are the best healthcare KPIs and
metric examples
Finance

• Operating Margin
• This is an important metric in finance that helps
  healthcare organizations to assess the
  profitability of their core operations. Herein,
  the operating income is divided by the total
  revenue and a percentage is calculated. If the
  operating margin percentage is positive, it
  means that the healthcare organization is
  generating profits from its core operations. On
  the other hand, a negative operating margin means
  that the healthcare organization is facing
  financial issues.
• Operating Margin (Total revenue Total
  expenses) / Total revenue
• Days in Accounts Receivable (AR)
• This metric helps calculate the average number of
  days it takes for the healthcare organization to
  collect payment after providing healthcare
  services. If the accounts receivable value is
  lower, it means that there is efficient revenue
  collection. On the other hand, if the accounts
  receivable value is higher, it means that there
  are issues in the collection process or billing,
  which could affect the organizations healthcare
  revenue cycle management.
• Cost per Patient Day
• This metric helps calculate the average cost
  incurred by the healthcare organization to
  provide care to a patient for one day. With this,
  it helps understand if there is efficient
  resource utilization and proper operations
  expenses are being done. Tracking these key
  performance indicators in healthcare and metrics
  help the healthcare organization to identify
  ways to save on costs and improve patient care.

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• Revenue Cycle Length
• This metric helps calculate the time taken from
  the beginning of a healthcare service to the
  collection of the payment for the same. Tracking
  this metric helps identify issues in the process
  of healthcare revenue cycle management and helps
  the organizations finance department streamline
  the process.
• Bad Debt Percentage
• This metric helps calculate the effectiveness of
  the healthcare organizations collection
  procedure and billing as a part of the healthcare
  revenue cycle management. It basically
  calculates the percentage of billed charges that
  are unlikely to be paid by the patient due to
  their inability to do so. A high bad debt means
  that improvisation is required in patient
  payment processes or financial assistance
  programs.

Operations

• Bed Occupancy Rate
• This metric keeps the healthcare organizations
  bed utilization in check. It calculates the
  percentage of occupied beds against the total
  available beds in the facility. It calculates
  the efficiency of bed utilization and helps
  ensure that resources are optimally allocated to
  patients in need of care.
• Patient Turnaround Time
• Patient turnaround time calculates the time taken
  from patient admission to discharge or transfer.
  It indicates the efficiency of patient flow
  through the healthcare facility, helping
  identify bottlenecks and areas for improvement in
  the care process.
• Emergency Department (ED) Wait Time
• ED wait time measures the average time patients
  spend waiting in the emergency department before
  receiving care. Tracking this metric helps
  enhance patient experience and assess the
  efficiency of emergency care delivery.
• Operating Room Utilization
• This metric calculates the percentage of time
  operating rooms are in use. It reflects how
  efficiently surgical resources are managed and
  scheduled, ensuring that operating rooms are
  effectively utilized for patient procedures.
• Appointment Wait Time
• Appointment wait time measures the average time
  patients wait for non-urgent appointments. It
  indicates the accessibility of care and helps
  manage patient expectations while optimizing
  scheduling processes.

Emergency
11. Average Length of Stay in ED
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• This metric helps calculate the efficiency of the
  health organizations care delivery and the
  patient flow in their emergency department. It
  calculates the average time spent by a patient
  in the emergency department from their arrival to
  their admissions or discharge.
• Door-to-Doctor Time
• This metric helps calculate the speed at which a
  patient is provided medical attention in the
  healthcare organization. It calculates the time
  taken to provide care to a patient after
  arriving in the emergency department. This helps
  improve the patient care efficiency of the
  healthcare organization.
• Left Without Being Seen (LWBS) Rate
• This metric is important when it comes to
  understanding patient satisfaction. The left
  without being seen or LWBS rate calculates the
  percentage of patients who left the healthcare
  facilitys emergency department before getting
  medical care. It helps identify operational
  issues and improve patient satisfaction.
• Patient Wait Time
• This metric helps calculate the time a patient
  spends waiting for medical treatment in the
  emergency department. It helps manage patient
  satisfaction and improve the process of care
  delivery.
• Readmission Rate from ED
• This metric helps measure the rate of readmission
  of the discharged patients within a specific
  timeframe. It helps assess the quality of care
  provided initially.

Care

• Patient Satisfaction Score (Care Quality)
• These metrics and key performance indicators in
  healthcare help calculate the patient
  satisfaction level with the healthcare
  organizations care and healthcare services
  provided. The patient satisfaction surveys help
  understand the patients perspective on the
  services provided and help improve the required
  areas.
• Medication Adherence Rate
• While the healthcare organization prescribes
  medication to the patient, it is important to
  know if the patient is following the same. This
  is one of the most important metrics and key
  performance indicators in healthcare, as it helps
  understand the effectiveness of a patients
  communication, education, and understanding of
  the overall treatment plans.
• Pain Management Effectiveness
• This metric helps assess the effectiveness of
  pain management during the patients healthcare
  journey. It helps understand the quality of
  treatment and patient comfort.
• Follow-up Compliance

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This metric helps calculate the percentage of
patients who adhere to scheduled follow-up
appointments or tests as recommended by
healthcare providers. It helps ensure continuity
of care and timely interventions. 20. Care Plan
Adherence Care plan adherence measures how well
patients adhere to their personalized care plans,
including lifestyle changes, treatments, and
recommended activities. It reflects patient
engagement and the effectiveness of care plans.
Internal

• Employee Turnover Rate
• This metric helps calculate the number of
  employees who leave the organization in a
  specified period. It helps understand the
  workforce stability, employee satisfaction, and
  the organizations culture.
• Employee Mistake Events
• This metric helps calculate the number of
  mistakes made by employees in the organization.
  This helps understand the effectiveness of the
  employees.
• Patient Confidentiality
• When patient information is collected by a
  healthcare organization, it remains confidential
  with them. If the same is compromised, the
  organization may have to bear certain
  consequences. This metric helps calculate the
  number of times a patients confidential
  information or medical records are compromised or
  seen by an unapproved party.
• Training Completion Rate
• This metric calculates the percentage of the
  number of employees who complete required
  training and certifications. It ensures that
  staff members are well-trained and up-to-date on
  the latest practices and procedures.
• Employee Engagement Score
• Employment engagement surveys are also important
  metrics and key performance indicators in
  healthcare. They help calculate the level of
  engagement and employee satisfaction. It also
  helps identify strengths and areas of improvement
  in the management practices, internal
  communication, and much more.

Communication
26. Patient Communication Satisfaction This
metric helps assess patient satisfaction with
communication received from healthcare
providers. It helps identify many areas of
communication, like organizations
responsiveness, clarity of information, and the
patients overall communication experience.
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• Social Media Engagement
• This metric is very important as it measures the
  level of interaction via likes, comments,
  shares, and more on the social media account of
  the healthcare organization. It helps understand
  the effectiveness of the organizations online
  presence and engagement strategies.
• Website Traffic and Engagement
• Another one of the important metrics and key
  performance indicators in healthcare is website
  traffic and engagement. It helps calculate the
  number of page vows, time spent on the
  organizations website, unique visitors, and so
  on. This helps assess the effectiveness of the
  healthcare organizations online information
  dissemination and patient engagement efforts.
• Media Coverage Impact
• This is yet another great example of metrics and
  key performance indicators in healthcare, as it
  helps analyze the audience sentiment by tracking
  media coverage and help in improving the
  organizations public perception. If the media
  coverage is positive, it means that the audience
  trusts the organization.
• Internal Communication Effectiveness
• This metric helps assess the effectiveness of
  international communication in the organization.
  It can be employee feedback on various areas,
  like timeliness, clarity, relevance, and much
  more.

Conclusion
With the constant changes in healthcare policies,
it is important for the healthcare organizations
to stay up-to-date and align with the same. In
order to do so, it is important to understand
and incorporate various metrics and key
performance indicators in healthcare that help
measure the organizations performance in various
aspects, improve healthcare revenue cycle
management, and help the organization achieve the
desired goal. There are metrics and key
performance indicators in healthcare that help
assess various areas of the healthcare
organization, like finance, communication, care,
emergency, and much more. These metrics and key
performance indicators in healthcare help in
managing claim denials, ultimately giving better
results in healthcare revenue cycle
management. As data-driven decision-making
becomes the norm, embracing these metrics
empowers organizations to navigate the
complexities of modern healthcare, ensuring that
every patient receives optimal care and every
process contributes to a healthier tomorrow.