(Answered) Healthcare Finance W4q

(Answered) Healthcare Finance W4q

(Answered) Healthcare Finance W4q 150 150 Prisc

Healthcare Finance W4q

Benchmarking is gaining a lot of attention in healthcare industry these days. Benchmarking allows healthcare managers to assess and measure the quality of an organization’s policies, products, programs, strategies, etc., and their comparison with standard measurements, or similar measurements of its peers. The objectives of benchmarking are (1) to determine what and where improvements are called for, (2) to analyze how other organizations achieve their high performance levels, and (3) to use this information to improve performance.

Please review:

Feibert, D. C., Andersen, B., & Jacobsen, P. (2019). Benchmarking healthcare logistics processes–a comparative case study of Danish and US hospitals. Total Quality Management & Business Excellence, 30(1-2), 108-134.

Salluh, J. I., Chiche, J. D., Reis, C. E., & Soares, M. (2018). New perspectives to improve critical care benchmarking. Annals of intensive care, 8(1), 17.

Discuss three departments in a healthcare organization which you as a healthcare manager would benefit by utilize Benchmarking as a measurement tool?

To support your work, use your course and textbook readings and also use the South University Online Library. As in all assignments, cite your sources in your work and provide references for the citations in APA format.

Your initial posting should be addressed at 150-300 words. Make your post to this Discussion Area by the due date assigned. Be sure to cite your sources using APA format.

Sample Answer

Healthcare Finance W4q

Benchmarking measurement tool has proved to be very important in healthcare. It means comparing the performance of an organization or the clinician to others. Benchmarking allows numerous hospitals and practices departments to monitor their performance related to their de-identified peers as applicable (Soraya, 2021). Benchmarking is significant to managers since it affords a way to evaluate the performance levels of the staff to identify performance issues. It can identify the root causes of production problems. This paper seeks to discuss three departments in healthcare organizations that can benefit as a healthcare manager by using Benchmarking as a measurement tool.

Departments in Healthcare Organization Which as A Health Care Manager Can

Benefit By Using Benchmarking as Measurement Tool

One department I can benefit from using the benchmarking tool in ICU.  According to Salluh et al. (2018), extensive use of information technology in health care overall with more classy modeling statistics and the newer practices like machine learning have possible consequences for the next steps in benchmarking. Thus, from an IT viewpoint, improved interoperability of the medical devices, EHRs, and information systems will change the speed and amount of data attainment and presentation in the organizations expanding access to the data on care procedures and patient-based results. In my organization, as machine learning and cluster examination are used in critical care, they can help ease the benchmarking. These practices enable providers better comprehend the clinical profiles of the critically ill populations without essentially being considered priori by the diagnosis or severity level.

Another significant department I can benefit from via the use of benchmarking tools is the purchasing department. This particular tool can help define the organization’s supply chain performance by considering value, quantity, and time. Benchmarking formulates a concrete measure of the efficiency of key processes in the supply chain, creating a solid basis for the organization’s performance. Also, it helps determine the impact of every enhancement I make on appropriate measurement indicators. This has helped reduce the costs facilitated by logistics processes in hospitals vital to inpatient care. Through the logistics processes benchmarking, an opportunity for reducing healthcare costs has been afforded (Feibert, Andersen & Jacobsen, 2019).

Besides, I can use this tool in the pharmacy department. This particular activity in the pharmacy department globally appears to occur in 3 forms, comparing the hospital pharmacy service. First, against the best practice ideals, as means to identify gaps and guide the service expansion, against the peers to comprehend how pharmacy department performance compares with the current practices of same service profiles and against itself, as a way of determining the pharmacy’s performance over the time to track the enhancement or monitor the results of the service changes or else initiatives.


            Generally, benchmarking measurement tool is very important in healthcare. It means comparing the performance of an organization or the clinician to others, and it permits numerous hospitals and practices departments to monitor their performance, related to their de-identified peers, as applicable. Benchmarking is significant to managers since it affords a way to evaluate the performance levels of the staff to identify performance issues. Managers in numerous departments can use this tool to guarantee benefits towards success, for instance, in ICU, purchasing, and pharmacy departments.