Productivity Metrics

Productivity Metrics

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Productivity Metrics

Key Performance Indicators (KPIs) effectively measure an organization’s ability to achieve its objectives by evaluating the organization’s success at achieving its targets. KPIs vary from industry to industry and the part of the business that the evaluator is looking at (Klipfolio, 2019). Departments within an organization will have a distinct set of KPIs to measure success in achievement of goals and objectives. Therefore, it is important to identify the KPIs that are relevant to the department, industry, role and overall organization.

In the case of Physician Care Services, Inc, the following metrics would be relevant in evaluating the efficiency and effectiveness of the organization such as Physician Referral Volumes and Revenues, Referral Development, Patient Satisfaction, Operational indicators, Physician/Market data that throws light on the organizational performance. Strategic performance indicators like physician reputation, return on investment, and return on relationship need to consider as indicators as measurements of the organization’s vision, mission, and goals. Meeting identified indicators supports the strategic direction and success of the organization.

1. Physician Referral Volumes and Revenues

This efficiency and profitability metric measure the number of patients referred to a specific physician at PCS and the revenues generated by each doctor. This metric helps PCS determine whether it is meaningful for the organization to continue using the services of a physician. If the number of referrals to a specific physician is more than the revenues earned from that physician would be more (Guevara, Hsu, and Forrest, 2011).

Physician referral volumes and revenues can be sub divided into various categories like individual referring physician, Primary Care Physician (PCP), specialist physicians, and geographic service area for a more thorough evaluation of patient segments, and business development.

1. Referral Development

Physician referral activity data measures contribution to service growth at PCS, Inc. would be evaluated. All the areas from where Physician Care Services, Inc gets its physician referrals would be evaluated to determine the referral trends, and practices of medical groups within each of these areas (Wilson, 2018). This competitiveness indicator would be helpful in marketing and development of additional community resources.

1. Patient Satisfaction

Patient feedback regarding the services provided by referring physician and staff at Physician Care Services, Inc would be used to evaluate the effectiveness of the performance of the physician and associated support staff like nurses, medical assistant, and radiographic technician. Physicians and staff with a pattern of being below the established satisfactory benchmark would be afforded the opportunity to be coached and adjust prior to a change in employment status. Only those physicians and staff who offer satisfactory services to patients would be retained by PCS, Inc. Patient Satisfaction is an effectiveness indicator (Veyrat, 2016).