But if a hospital does not capture relative value units, they may instead use numbers of procedures as the indicator. Multiple indicators allow the greatest opportunity and comparability. Without this level of detail within the comparative information, the benchmarking process is not as persuasive and will not garner support from others within the department. The greater the breadth and depth of the information, the more apt department managers and clinicians will be to embrace it and become champions of any change initiatives. The most comprehensive benchmarking data contains several hundred departmental profiles enabling comparison with those departments or facilities most similarly structured in size, scope and responsibilities.
Net revenue is benchmarked to indicate patient account performance.
There are many new automated collection tools, and specialty companies who assist with cash acceleration, private pay collections, or outsource the service in total. Supply costs for pharmaceuticals, catheters, implants, inventory, and other disposable supplies and small equipment are important to manage. Benchmarking can identify insufficient materials management, overuse, and lack of standardization. As an objective, fact-based approach, it provides evidence for the elimination of individualized preferences in equipment and supplies. Benchmarking is an effective method for testing the reasonability of product standardization.