Best practice is more than just an industry buzzword. Establishing best practices can make a real impact on a healthcare
organization’s bottom line. Yet what exactly are “best practices”? How do you know if your internal best practices are really the best?
Many organizations would be surprised to discover that their internal “best” practices are actually subpar when compared to peers. However, leveraging comparative analytics to compare performance to peers can provide both financial and operational insights. Armed with this data, management teams can gain a clear understanding of the drivers impacting their internal performance and identify areas needing improvement. Plus, analyzing financial and operational metrics on a regular basis should also be part of an organization’s best practices, so if you aren’t doing so, you should!
Learn about some specific areas in which to use comparative analytics to analyze your business operations in our recently published article on the topic.