NUR 621 Topic 7 DQ 2 What type of staff performance indicators would you monitor to ensure you were meeting your budget

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Topic 7 DQ 2

Jan 27-31, 2022

What type of staff performance indicators would you monitor to ensure you were meeting your budget? How would you monitor these indicators?

REPLY TO DISCUSSION

TF

Feb 1, 2022, 11:40 PM(edited)

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Replies to Tameka Foster

The healthcare industry is constantly changing, and healthcare organizations must ensure standards are maintained and monitored to thrive and function successfully. Healthcare indicators help monitor how well organizations are functioning and show areas that need improvement. “Key performance indicators are quantifiable measurements that show how well an organization, team, or individual is performing against a predetermined goal or objective” (Mind Tools, n.d.). Performance indicators measure how well healthcare organizations operate in managing utilization which is the demand for services by consumers (Penner, 2017). Financial indicators measure the monetary values in healthcare organizations (Penner, 2017). Healthcare facilities must create a balance in ensuring the best patient care while managing staffing, resources, and associated costs. Some significant performance indicators to consider ensuring facilities stay within budget are staff-to-patient ratio, bed occupancy rate, average hospital stay, treatment costs, patient satisfaction, and employee satisfaction. To monitor performance indicators, facilities must track records and progress, generate reports and compare to see if any improvement is needed; doing so helps to ensure positive patient outcomes and organizational success.

References 13681_WORLDVIEW_AND_NURSING_PERSONAL_STATEMENT_FINAL

Mind Tools. (n.d.). Performance management and KPIs. https://www.mindtools.com/pages/article/newTMM_87.htm#:~:text=A%20Key%20Performance%20Indicator%20(KPI)%20is%20a%20quantifiable%20measurement%20that,a%20predetermined%20goal%20or%20objective.

Penner, S. J. (2017). Economics and Financial Management for Nurses and Nurse Leaders (3rd ed.). Springer Publishing Company. ISBN: 978-0-8261-6001-0

Feb 2, 2022, 7:44 AM

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Replies to Tameka Foster

I agree, healthcare is always changing. New discoveries are being made everyday. Healthcare organizations need to adopt this changes so as to provide up to date care that is effective to their patients and cost effective. This changes require a lot of resources to adapt to, and it is up to healthcare organizations to decide which changes are worth while to adopt. How well the company manages it finances does determine the pace to which change does take place.

Healthcare organizations should also aim to improve employee satisfaction by giving them a conducive place to work, and offer them competitive wages. Patient satisfaction should also be a priority for any healthcare organization. Patients should be made to feel that their healthcare needs are met, and they should be involved in their treatment plan. Healthcare organizations should always strive to make improvements on their service delivery to their patients and their workers as a whole (Selim et al.,2018)

Reference: 13681_WORLDVIEW_AND_NURSING_PERSONAL_STATEMENT_FINAL

Selim Ahmed, Noor Hazilah Abd Manaf, & Rafikul Islam. (2018). Measuring Lean Six Sigma and quality performance for healthcare organizations. International Journal of Quality and Service Sciences, 10(3), 267–278. https://doi.org/10.1108/IJQSS-09-2017-0076

BH

Beth Hale

Posted Date

Feb 2, 2022, 5:12 AM

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Replies to Tameka Foster

Knowledge Check

Identify one staff performance indicator applicable to your place of work. Provide rationale for importance using link to budget.

Feb 2, 2022, 5:50 PM

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Replies to Beth Hale

One performance indicator we use in my facility is productivity measurement. Productivity is measured by volume and hours worked (Hunt, 2019). In order to get the departments productive measurement, we must first do this formula: measurement of work multiplied by the budgeted hours per patient day (HPPD) for a defined period, and this period is usually 14 days (Hunt, 2019). We use a nurse-to-patient ratio for staffing, but also make sure we stay productive with that ratio on a daily basis. We actually use a program that helps us keep track of this called Laborlytics. With this we can often stay on track or see what areas we need to fix to get back on budget!

Hunt, P., & Hartman, D. (2018, June). Meeting the measurements of inpatient staffing productivity. Nursing Management. https://journals.lww.com/nursingmanagement/Fulltext/2018/06000/Meeting_the_measurements_of_inpatient_staffing.8.aspx#:~:text=Key%20performance%20indicators%20The%20departmental%20performance%20or%20budget,patient%20day%2C%20and%20FTEs%20used%20to%20provide%20care.

CN

Jan 31, 2022, 10:41 PM

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Replies to Tameka Foster

Most healthcare organizations require a lot of financial resources to operate. Since they provide services to their patients, they require a lot of human labor in order to provide adequate health care services to their patients. This normally requires a lot of financial planning in order to have these organizations continually running. A budget needs to be in place and adhered to, so as to keep the healthcare organization functioning and running efficiently with enough resources. One of the methods that most hospitals use is by using dashboard. Dashboard is used to show the number of unoccupied and occupied beds in the hospitals. By using this tool, the hospital is able to utilize all staffing and managed patients flow more effectively. The healthcare organization would also track the

quality of care that is being provided in various units. This ensures that patients receive quality care and are satisfied with the care that they receive. The other method is to monitor the effectiveness of new treatments. This will ensure that the patients are getting better once they are admitted to the hospital. It will also give the opportunity to the hospital to identify which treatments have the best results. The other reason is to increase operational efficiency in the healthcare organization. This will not only increase savings, but it will also increase operational efficiencies (Selim et al., 2018)

NUR 621 Topic 7 DQ 2 What type of staff performance indicators would you monitor to ensure you were meeting your budget

Reference: 13681_WORLDVIEW_AND_NURSING_PERSONAL_STATEMENT_FINAL

13681_WORLDVIEW_AND_NURSING_PERSONAL_STATEMENT_FINAL Grading Rubric Guidelines

Performance Category	10	9	8	4	0
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Performance Category	10	9	8	4	0
Application of Course Knowledge – Demonstrate the ability to analyze, synthesize, and/or apply principles and concepts learned in the course lesson and outside readings and relate them to real-life professional situations	Posts make direct reference to concepts discussed in the lesson or drawn from relevant outside sources; Applies concepts to personal experience in the professional setting and or relevant application to real life.	Posts make direct reference to concepts discussed in the lesson or drawn from relevant outside sources. Applies concepts to personal experience in their professional setting and or relevant application to real life Interactions with classmates are relevant to the discussion topic but do not make direct reference to lesson content	Posts are generally on topic but do not build knowledge by incorporating concepts and principles from the lesson. Does not attempt to apply lesson concepts to personal experience in their professional setting and or relevant application to real life Does not demonstrate a solid understanding of the principles and concepts presented in the lesson	Posts do not adequately address the question posed either by the discussion prompt or the instructor’s launch post. Posts are superficial and do not reflect an understanding of the lesson content Does not attempt to apply lesson concepts to personal experience in their professional setting and or relevant application to real life	Posts are not related to the topics provided by the discussion prompt or by the instructor; attempts by the instructor to redirect the student are ignored No discussion of lesson concepts to personal experience in the professional setting and or relevant application to real life
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Also Read: NUR 621 Topic 7 DQ 1 What are some of the key differences for a staffing model in a skilled nursing facility as compared to a medical-surgical unit in the hospital