In a hospital two parameters go hand in hand i.e . Average Length of Stay(ALOS) and Average Revenue Per Operating Bed ( ARPOB).
1. Average Length of Stay (ALOS)
This represents the average number of days a patient stay in a Hospital. ALOS must be tracked for each and every speciality.
2. Average Revenue Per operating bed (ARPoB)
This represents average revenue earned by one bed. ARPoB decides which speciality needs special attention by the hospital. e.g. in the adjoining chart, even thoigh the highest revenue is earned by oncology department however, the highest ARPoB is fetched by Ortho resulting in higher gross margins. On tracking these KPIs the hospital can take decisions such as increase advertisement and marketing expenditure on Ortho division.
3. Doctorwise Revenue
By tracking which Doctor is generating more revenue and which one is generating less revenues, the hospital can easily decide the consultant fee structure.
4. Speciality wise growth rates. - Growth in terms of revenue and in terms of footfall(for OPD) / Patient count (For IPD) in different specialities of the Hospital.
5. Employee Attrition rate - The rate at which employees leave the organisation
6. Doctor wise churn rates of existing patients - the rate at which the hospital patient stop visiting the hospital. It should ideally be tracked for OPD Patients to measure the performance of doctors and design incentives.
7. Average Patient Wait time - For OPDs, the Hospital must tack the patient wait time for each doctor in each speciality. this helps the hospital in evaluating optimum deployment of doctors in the hospital.
8. Staff per operating bed: A hospital must maintain an optimum mix of nurses, murses and paramedical staff per operating bed to ensure efficient working.
9. Medical Equiment Utilisation: A hospital must evaluate and track the utilisation of its pathological and other medical equipment to ensure optimum utilisation and budget for potential CAPEX.
How does my true books help in tracking these parameters
1. Understanding - First of all we understand what KPIs are that are required to be tracked by the hospital based on Vision and mission of the hospital.
2. Automation - We integrate Accountng / Management softwares with Power BI and automate the interactive reporting
3. Reporting - We prepare user freindly interactive reports
4. Monitoring
A sample dashboard is explained in the video below.
Comments