This study discusses the importance of balance scorecard and key performance indicators in healthcare sector for improving health and providing better treatments to patients.
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Business Information Systems 1
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Table of Contents INTRODUCTION3 MAIN BODY3 Business informations solutions of healthcare services3 Ways to measure and evaluate performance against value4 CONCLUSION5 REFERENCES6 2
INTRODUCTION Business information system can be defined as set of procedures in which company uses ITinfrastructureinordertogenerateorgetallimportantbusinessrelatedinformations (Tamandeh, 2016). This present study is about to discuss importance of balance score card which is one of the effective business information system or solutions. It helps companies in getting their informations, knowing their actual position in the market, company and taking effective decisions. MAIN BODY Business informations solutions of healthcare services Business informations play an important role in healthcare sector for improving health and providing better treatments to patients. In the context of NHS UK it can be said that, it deals with several critical patients so, it is important for this to have all informations of patients before making decision about providing treatments to them. Along with patients’ informations it is also important to have informations related to their clinic like available resources, staff, sensitive informations etc. For this purpose, it makes an effective use of business information solutions or those systems which allow it to give all informations related to patients, clinic, financial department and capacity (Teklehaimanot and et.al., 2016). Balance score card is one of the effective strategic management performance tools which can allow NHS to identify as well as improve its internal health care related functions. There are several advantages of using this system or key performance indicators metrics such as: 1.It allows healthcare sector to align its communication strategy and execution of it in order to get accurate informations. 2.It improves overall performance reporting which increase image of the company. 3.Better process alignment is other main benefits of using key performance indicators and balance score card model in health care sector which decreases work load in healthcare professionals. 4.It also allows management to manage all informations and making them sure that they are measuring right things which is required. 3
5.It also let them know that they are in the right direction and providing effective and qualitative healthcare services to patients. Ways to measure and evaluate performance against value There are several key performance indicators are available which allows healthcare sector to measure effectiveness of their healthcare services and performance as well. For different purposes and measurement different KPIs’ are being used by NHS such as: Key performance Indicators: Patient focus KPI:It is one of the effective performance indicators model which allows healthcare providers to identify patients’ condition and their safety in hospitals. With the help of patient safety and patient focus indicators, they make themselves able to measure that how well a healthcare facility cares for their patients. With the help of these indicators they also measure and identify all those areas which cause problems for patients and need improvement. It overall improves quality of healthcare services by focusing on standard processes used for treatments and monitoring (Wong and et.al., 2018). It also allows them to measure satisfaction level of patients as satisfaction of patient is lifeblood. By analysing satisfaction level of patients healthcare professionals can improve their services, treatments which can satisfy patients and make them feel comfortable. Average hospital stay KPI:It is other main performance indicators which allows this sector in measuring and analysing the total time of patient stay in the hospital. By analysing patient stay time; they can also identify areas which they need to improve as we as reasons of longer stay in hospital of patients. The main aims of healthcare setor are to improve patients health in a timely manner. They can also know that how critical is problem with patients for which they are staying in the hospital for long. Treatment cost measurement:There are some measurement tools are available which allows healthcare sector to identify or calculate how much a patient cost to the services or treatments. It also helps them out in calculating total cost which incurred along with net profit values. Treatment costs are considered one of the important metrics in order to track because it directly impacts finance of this sector, contribution margins as well as capacity of facilities or treatments 4
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to sustain itself. The main purpose of analysing this cost is to spot exaggerated expenses by dividing it out in some categories. It allows them to make budget in an effective manner. Staff to patient ratio: This indictor allow them in measuring the amount of staff resources present to attend patients in hospital over a certain period of time. By focusing on staff mornings and night shifts they can measure effectiveness of performance of staff and roles which they play in order to improve health of patients. The main aim of this staff to patient indicator in healthcare sector is to improve quality of patient care as well as improving skilled workforce sustainability. A higher ratio shows a greater capacity to provide care to patients (Rahimi and et.al., 2017). Claim denial rate: It is other main quantifiable indicator which is being used by NHS and health care sector to measure efficiency of revenue cycle of a hospital. A decreased rate shows effectiveness which means hospital gives more time to taking care of patient in order to improve their health. On the other hand, this decreasing rate also shows that a hospital give less time to paperwork or keeping documents in an effective manner. But overall it helps them out in improving health and car of patients. So, from the above discussed different and various key performance indicators it can be said that healthcare sector s making itself able to improve healthcare services by making use of all these business information systems or key performance indicators. It also allows them to improve all those areas in which they are not good (Si, You, Liu and Huang, 2017). CONCLUSION It has been summarized from the above study that systems like balance score card or key performanceindicatorsplayedavitalroleasitallowscompaniestogetallimportant informations about their business. All information which they get from such models allows them in making effective and the best decision and accomplishing goals. 5
REFERENCES Books and journal Rahimi, H. and et.al., 2017. Key performance indicators in hospital based on balanced scorecard model.Journal of Health Management & Informatics.4(1). pp.17-24. Si, S.L., You, X.Y., Liu, H.C. and Huang, J., 2017. Identifying key performance indicators for holistic hospital management with a modified DEMATEL approach.International journal of environmental research and public health.14(8). p.934. Tamandeh,S.H.,2016.Theeffectofbusinessintelligenceonmanagementaccounting informationsystem.EuropeanOnlineJournal of NaturalandSocialSciences.5(1). pp.190-199. Teklehaimanot, H.D. and et.al., 2016. Use of balanced scorecard methodology for performance measurement of the Health Extension Program in Ethiopia.The American journal of tropical medicine and hygiene.94(5). pp.1157-1169. Wong, K.L. and et.al., 2018. Key performance indicators for measuring sustainability in health care industry in Malaysia.Journal of Fundamental and Applied Sciences.10(1S). pp.646- 657. 6