Fair and Balanced
To be "fair and balanced" as one of the bloggers mentioned, I am including the other indicators from the quarterly report. The Board Members and others are given a "Dashboard" report that list the indicators, the target, the prior year's value and the current value.
There is also a spider graph attached that gives a very quick overview of where we stand. Everything inside the spider graph is bad (below target values) and everything outside is good (above target values).
The March dashboard showed only 3 values outside the graph or in the "good" range.
These three indicators were the:
There is also a spider graph attached that gives a very quick overview of where we stand. Everything inside the spider graph is bad (below target values) and everything outside is good (above target values).
The March dashboard showed only 3 values outside the graph or in the "good" range.
These three indicators were the:
- Average length of stay was 3.78 with the target of 4.16
- Employee turnover rate was 7.0% with a target of 8.5%
- Patient fall rate was 4.22 with a target of 5
- Operating margin is at 62% of the projected goal
- Total Margin is at 64% of the projected goal
- Day’s cash on hand is at 57% of the projected goal
- Days in A/R is at 87% of the projected goal
- Inpatient satisfaction is 63% with the goal being 75%
- Outpatient satisfaction is 34% with a goal of 75%
- Outpatient surgery satisfaction is 41% with a goal of 75%
- ER satisfaction is 47 % with a goal of 75%
- FTE per adjusted occupied bed was 4.64 with a goal of 4.64
- Cost per adjusted discharge was $6004 with a goal of $5883
- Debt service coverage ratio was 3.22 with a goal of 4.00
The majority of these are all below last years values and trending downward. Commissioners and citizens should remember that if certain of these key indicators hit a specific level, the hospital can be taken over by the bond insuring agency.
The County could essentially lose control of the hospital!!
posted by Anonymous at 11:45 PM
5 Comments:
Thanks.
I agree, based on goals set, this a pretty poor performance.
"The county could lose control of the hospital." -- How would we know? All kidding aside, are the financial reports made public? If so, how can they be accessed?
This is a county owned hospital. It is all public information.
Certain people just don't want the information known.
The measurements you cite are results against internal objectives which may be either aggressive “stretch” goals or easy to reach goals. What would be more interesting to me is how the actual numbers match up against a peer group of hospitals. That would seem to be a better indicator of how successful or unsuccessful hospital management is in coping with the problems facing the health care industry.
One thing I did notice was the actual employee turnover rate of 7%. That sounds awfully good to me. Most organizations would love to have such low turnover.
I am assuming these are general revenue bonds meaning that Floyd County is the ultimate payor if the hospital does not. While alot of these statistics are interesting and probably important, bonds are repaid with cash flow. What I'm wondering is how much room for error was there, in terms of cash flow, going into the new cardiology project?
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