performance standard

Anonymous
timer Asked: Jun 17th, 2018
account_balance_wallet $30

Question Description

Using the same organization from Week 2, create 3 performance standards or benchmarks (e.g., net profit, quality ratings, service excellence award, average length of stay, average percentage of readmission after discharge, average medical error rate, and so on). These benchmarks must be based on national standards or other successful profiles for this particular type of organization. Evaluate the following strategic innovations that were used to evaluate your performance standards:

  • Selective contracting
  • Cost sharing
  • Managed care
  • Quality standards

Evaluate the role of decision making by the health care leader for any of the performance standard measures to achieve national benchmarks.

Unformatted Attachment Preview

Using the same organization from Week 2, create 3 performance standards or benchmarks (e.g., net profit, quality ratings, service excellence award, average length of stay, average percentage of readmission after discharge, average medical error rate, and so on). These benchmarks must be based on national standards or other successful profiles for this particular type of organization. Evaluate the following strategic innovations that were used to evaluate your performance standards: • • • • Selective contracting Cost sharing Managed care Quality standards Evaluate the role of decision making by the health care leader for any of the performance standard measures to achieve national benchmarks. ...
Purchase answer to see full attachment

Tutor Answer

bilhamay
School: Duke University

Thank you for working with me

Running Head: HEALTHCARE PERFORMANCE STANDARDS

Healthcare Performance Standards
Name
Institution

1

HEALTHCARE PERFORMANCE STANDARDS
Healthcare Performance Standards
Introduction
According to the national standards or other successful profiles, three performance
standards will be created in this research paper, and the evaluation of the strategic innovations
used to evaluate the performance standards conducted. The research paper will also evaluate or
discuss the decision-making role of the healthcare leader for the net income performance
measure.
Net profit
The net income performance standard is a profitability metric designed and developed
with the objective of ensuring that the healthcare institution makes a good use of its assets, to
ensure that the healthcare facility is profitable with the ability to attain its sustainability and
growth and that it is producing value for its shareholders. The focus area of the net income
performance standard is the profitability and growth or sustainability of the healthcare
organization. Based on the healthcare facility's financial priorities and objectives or goals the
healthcare facility is entitled to use different mathematical methods, formulas or equations as a
measurement of the net income performance standard. In simpler terms, the methods or formulas
used as the net profit performance standard differ with the objective meant to be achieved by the
net income performance standard. For example, if the goal is to achieve profitability or net profit,
then the formula used is (Net Profit or Profitability= Revenue-Total Costs. If the healthcare
institution is more concerned with producing value for their shareholders, then the formula: Net
Profit-Retained Earnings= Dividends will apply. According to (Marr, 2012), the data that is

2

HEALTHCARE PERFORMANCE STANDARDS
needed for the net profit performance stand...

flag Report DMCA
Review

Anonymous
Excellent job

Similar Questions
Related Tags

Brown University





1271 Tutors

California Institute of Technology




2131 Tutors

Carnegie Mellon University




982 Tutors

Columbia University





1256 Tutors

Dartmouth University





2113 Tutors

Emory University





2279 Tutors

Harvard University





599 Tutors

Massachusetts Institute of Technology



2319 Tutors

New York University





1645 Tutors

Notre Dam University





1911 Tutors

Oklahoma University





2122 Tutors

Pennsylvania State University





932 Tutors

Princeton University





1211 Tutors

Stanford University





983 Tutors

University of California





1282 Tutors

Oxford University





123 Tutors

Yale University





2325 Tutors