Key Performance Indicators all Long-term and Post-acute Care Companies Should Keep an Eye on
Successfully operating skilled nursing facilities today is a challenge, to say the least.
Rebuilding census, nationwide staffing shortages, and increased compliance requirements on the horizon make understanding the performance and health of your facilities more important than ever.
Key performance indicators are more than just numbers. They are the tools successful operators use to define and measure progress toward operational, quality, and financial goals.
Knowing and measuring the right KPIs allows you to proactively adjust to achieve results faster. SNF and ALF operators have a specific set of indicators they should keep an eye on.
Financial and Operational Performance
o Average Daily Census (ADC)
o Length of Stay (LOS)
o Payer mix
o Labor PPD & Employees per Occupied Bed (EPOB)
o Procurement – Spend & PPD
o Revenue & Collections
o Days Sales Outstanding (DSO)
o Case Mix Index
o PDPM and Case Mix Scores
o Medicare and Medicaid Rates
Internal Business Process
o Quality Measures
o Survey Results
o Readmission Rate
o Five-Star Rating
o Turnover & Retention
Learning, Innovation, and Growth
o Continuing Education
o EBPs implemented
o Systems & Tools
Establishing a proper system of managing your KPIs throughout the organization will enable you and your teams to see better results. Having insight into performance each day allows you to replicate what works and change what does not quickly.
Managing your KPIs can be time-consuming without the right tools in place. The data you need to measure and track performance successfully is all over the place: electronic health records, time and attendance, scheduling, MDS tools, procurement, and learning platforms.
CareWork ties the data together from the systems you already use and provides analytics and KPI intelligence on things like staffing, overtime, turnover, census, clinical and quality, revenue, collections, and procurement so teams can catch problems before they occur and repeat best practices across the organization.
Are you ready to work faster, avoid duplicate work, and hit targets? If so, contact us today.