![]() It helps determine the amount of revenue generated after subtracting expenses toward lease payments, labor costs, medical supplies and payrolls from the total revenue. The net profit margin is the percent of the facility's revenue that translates into a profit. Here are 16 health care KPIs to assess a facility's financial and operational status and implement growth plans: 1. The size and type of the medical facility might determine your specific KPIs, but there are many key performance indicators that are useful throughout the health care industry. Related: What Is a Key Performance Indicator (KPI)? (With Examples) 16 health care KPIs Many administrators and practice directors use KPI tracking to make hiring and facility decisions, adjust budgets and implement plans to improve patient success. It can help you understand the change in factors over time as the health care industry and market change. Tracking health care KPIs can help you set attainable targets for an organization's growth or improvement and monitor your progress toward your goals. ![]() You can monitor these reports on a dashboard. You can extract and transform patient data into KPIs, which you can then consolidate and structure to generate comprehensive reports. Most facilities maintain digital records. They can identify ways to improve patient care services, ensure optimal and sustained hospital performance and manage costs effectively. Health care KPIs are important for managing the entire data spectrum of a facility, including patient care, hospital performance and costs. Related: Key Performance Indicators (KPIs): Definition and Examples Why are health care KPIs important? These KPIs can come from any aspect of the business, including finances, patient care, workplace satisfaction and equipment use. Typically, administrators track KPIs over time to understand the facility's past development and predict future trends. You can use these KPIs to compare the performance of the facility with that of others to find areas of improvement. They measure the progress of the facility and show how successful it is. ![]() Health care KPIs are well-defined performance measures or metrics with which you can observe, analyze, optimize and transform health care facility services. In this article, we define health care KPIs, explain why they're important and list 16 KPIs that you can use to assess a health care facility's overall efficiency and progress toward growth targets. If you're a health care administrator or hospital director, it might be useful to learn some common KPIs for your industry. Many administrators and directors use key performance indicators, or KPIs, to set growth targets or improve aspects of their patient care and administration. Health care administrators and private practice owners combine medical care with business experience to assess and improve the performance of the health care professionals who work in their facilities.
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