For providers, gauging sustainable success requires a clear measuring stick. Benchmarking against a peer group using well-defined metrics is a prerequisite to identify opportunities for quality improvement and cost reduction.
A major obstacle for many health care providers is that they simply don’t know how cost effective their operations are relative to their peers. Addressing this challenge requires reliable benchmarks to identify opportunities for improvement of patient outcomes.
Organizations often have to transform their day-to-day operations in order to better align health care costs with quality. Providers are being challenged to reduce the length of hospital stays for patients while still delivering high-quality care, and payers will increasingly link reimbursement to performance and value.