KPI Examples for Healthcare & Social Assistance | Healthcare KPI

Healthcare and Social Assistance KPIs

Elevate your organization with our comprehensive list of key performance indicators (KPIs) for Healthcare and Social Assistance. From patient outcomes and safety to staff satisfaction and financial performance, track and measure progress to optimize service delivery and improve patient experience.

Ornament pattern
Ornament pattern

KPI Examples for Healthcare and Social Assistance

  • Accounts receivable
  • Accounts payable and accrued expenses
  • Admissions in-patient
  • Average length of stay (ALOS)
  • Average length of stay (ALOS) for top ten diagnoses
  • Assets in current period
  • Assets in prior period
  • Average age of plant
  • Average age of workforce
  • Average daily and monthly census
  • Average hourly rate
  • Average length of stay
  • Average payment period (days)
  • Average time to fill positions
  • Backorder percentage
  • Bad debt as percentage of net revenue
  • Bottleneck areas
  • Break even
  • Capital expenditure growth rate
  • Case mix index
  • Cash and equivalents
  • Cash collected versus target
  • Cash on hand (days)
  • Communication effectiveness
  • Contract negotiation schedule
  • Cost per discharge
  • Current asset turnover
  • Current ratio
  • Days in accounts receivable
  • Debt service coverage ratio
  • Depredation funds
  • Depreciation rate
  • Discharge process time
  • Discharges in-patient
  • Discounts trends, revenue, and margin by payer class
  • Due to third parties
  • Education funds
  • Emergency visits outpatient
  • Encounters outpatient
  • Equity financing
  • Errors related to procedure/treatment or test
  • Events, number of events by type and department
  • Expenses per physician FTE
  • Fixed asset turnover
  • Free operating cash flow to assets
  • Free operating cash flow to revenue
  • FTE per occupied bed
  • FTEs per adjusted occupied bed
  • Growth rate on equity
  • Hazardous materials usage
  • Informed about delays
  • Inventory ratio
  • Inventory turnover
  • Investments at market value
  • Long-term debt
  • Long-term investments
  • Maintained bed occupancy
  • Mean wait time in emergency department (ED) for hospital bed
  • Medication errors, number of errors per 1,000 treatments
  • Medication errors, number of errors per month/year
  • Month to date (MTD) bad debt
  • MTD cash collected
  • MTD revenue
  • Net assets
  • Net income
  • Net income to patient revenue
  • Net revenue
  • Non-operating gains
  • Number of new hires per day
  • Nurse turnover rate
  • Nurse vacancy rate
  • Nurses attention to needs
  • Operating income
  • Operating profit margin
  • Operating revenues
  • Other liabilities
  • Outside labor as a percentage of total
  • Over or under consumption of service lines by payer types
  • Overtime costs
  • Paid time off costs at business unit level
  • Paid time off costs at department level
  • Patient accounts receivable
  • Patient care hours
  • Patient complaint rate
  • Patient satisfaction
  • Patient wait times, by process step
  • Patient/staff ratios
  • Patients who leave without being seen (by day, by time)
  • Percentage of capital expenses
  • Percentage of cash flow to total debt
  • Percentage of cash flow to total liabilities
  • Percentage of charitable revenue
  • Percentage of debt to capitalization
  • Percentage of fixed asset financing
  • Percentage of in-patient capitated revenue
  • Percentage of in-patient commercial revenue
  • Percentage of in-patient HMO revenue
  • Percentage of in-patient revenue
  • Percentage of in-patient self-pay revenue
  • Percentage of Medicaid revenue
  • Percentage of operating margin
  • Percentage of outpatient Medicare revenue
  • Percentage of outpatient revenue
  • Percentage of part-time FTEs of total FTEs
  • Percentage of voluntary staff turnover
  • Physician FTE
  • Physician productivity (relative value units)
  • Purchase order (PO) quantity ordered by department
  • Property, plant, and equipment
  • Readmission rates
  • Replacement viability
  • Reported income index
  • Reserve levels
  • Return on equity
  • Return to vendor
  • Revenue by contract type
  • Revenue per physician FTE
  • Risk-adjusted mortality
  • Salaries and benefits
  • Satisfaction with physical examination
  • Satisfaction with physician
  • Service line utilization and trends by payer type
  • Service provision
  • Short-term investments
  • Skill levels
  • Source of hires versus cost
  • Staff turnover
  • Staff turnover by job code
  • Staff turnover by location
  • Staffing cost trend
  • Staffing-related quality indicators
  • Supplies and services
  • Surgical cases in-patient
  • Surgical cases out-patient
  • Times interest earned
  • Total admissions
  • Total cash and investments
  • Total compensation per FTE
  • Total discharge
  • Total income
  • Total liabilities
  • Total margin
  • Total operating expenses
  • Total paid time off of FTEs
  • Total PO dollar amount
  • Total revenue per FTE
  • Total salary per FTE
  • Total travel distance
  • Total turnover per manager
  • Total turnover per tenure
  • Total unrestricted funds
  • Turnover of clinical and non-clinical staff
  • Uncompensated care
  • Unit efficiency
  • Unrealized gains
  • Vacancy rate
  • Weekly payroll
  • Working capital absorption
  • Working capital for current accounting period

Why would Healthcare and Social Assistance organizations use KPIs?

Key performance indicators (KPIs) are essential tools that can help companies in the healthcare and social assistance industry to measure and improve their performance. These indicators provide a clear and concise way to evaluate the effectiveness of different aspects of a business, and can help managers to identify areas in need of improvement.

One of the key benefits of using KPIs in the healthcare and social assistance industry is that they can help to improve the quality of care provided to patients. By measuring important factors such as patient satisfaction and outcomes, healthcare providers can identify areas where they need to focus their efforts in order to improve the patient experience. This can lead to better care, happier patients, and ultimately, increased revenue for the organization.

Another important benefit of using KPIs is that they can help to improve operational efficiency. In the healthcare industry, efficiency is crucial as it can directly impact patient outcomes. By measuring key indicators such as the length of stay for patients, the rate of readmissions, and the turnaround time for test results, healthcare organizations can identify bottlenecks and inefficiencies in their processes. This can help them to make targeted improvements that can reduce costs and improve the overall performance of the organization.

KPIs can also play a critical role in the financial management of a healthcare organization. They provide key metrics such as revenue growth, profitability, and cost per patient which can give managers an insight into the financial health of the organization. This can help to identify issues early and make any necessary changes to improve the financial performance of the organization.

In addition, KPIs can help to track employee performance. By measuring factors such as employee turnover, absenteeism, and productivity, organizations can determine if there are issues with employee engagement or if the employee’s training are lacking. This can help to improve the overall performance of the organization by increasing employee satisfaction and retention.

Furthermore, KPIs can provide important data for compliance and regulatory purposes. In the healthcare industry, there are a number of laws and regulations that organizations must comply with, such as HIPAA and OSHA. By monitoring key compliance indicators, organizations can ensure that they are meeting these requirements and avoid the potential penalties and legal issues that can arise from noncompliance.

The use of KPIs in the healthcare and social assistance industry can provide significant benefits to organizations by helping them to improve the quality of care, operational efficiency, financial performance, employee performance and ensure compliance with regulatory requirements. KPIs are powerful tools that can help managers to make data-driven decisions and drive the continued growth and success of the organization.

Popular Healthcare and Social Assistance KPIs

When it comes to measuring the performance of a company in the healthcare and social assistance industry, there are a number of key performance indicators (KPIs) that can be used to provide a comprehensive understanding of the organization's strengths and areas for improvement. These KPIs can be divided into several main categories, including patient care, operational efficiency, financial performance, employee performance and compliance.

One of the most important areas to focus on in the healthcare industry is patient care. Key indicators in this category include patient satisfaction, clinical outcomes, and patient safety. Patient satisfaction is an important metric to track as it can provide insight into how well the organization is meeting the needs of its patients. Clinical outcomes, such as mortality rates, readmission rates and length of stay, can also provide insight into the quality of care provided. Patient safety is also an important KPI, this can be measured through adverse events, infections and other safety incidents.

Operational efficiency is another crucial area to measure, as it can have a significant impact on the bottom line of the organization. Indicators such as the length of stay for patients, the rate of readmissions, and the turnaround time for test results can provide insight into the efficiency of the organization's processes. In addition, tracking the volume of patients seen per day, the number of patients seen per provider and the amount of time spent on administrative tasks can also provide a good indication of the organization's overall efficiency.

Financial performance is a vital area for any business, and healthcare organizations are no exception. Key indicators in this category include revenue growth, profitability, and cost per patient. These metrics can provide insight into the financial health of the organization and can help managers to identify areas where cost savings can be made.

Employee performance is another important area to measure, as it can have a significant impact on the overall performance of the organization. Indicators in this category include employee turnover, absenteeism, and productivity. By tracking these metrics, organizations can determine if there are issues with employee engagement or if the employee's training is lacking.

Compliance is also a key area for healthcare organizations to focus on, as there are a number of laws and regulations that must be adhered to. Indicators in this category include compliance with HIPAA, OSHA and other relevant regulations. By monitoring compliance indicators, organizations can ensure that they are meeting these requirements and avoid the potential penalties and legal issues that can arise from noncompliance.

In conclusion, there are a wide range of KPIs that a company in the healthcare and social assistance industry can use to measure and improve its performance. It is important to note that not all of these KPIs will be relevant or applicable to every organization and it's important to select the right KPI based on the specific need and goals of the organization.

Experience Spider Impact for Free

Schedule a live demo or claim your free 30-day trial. We’re standing by to either show off Spider Impact or turn your data into a prototype for free.

i ? ?