For any industry, performance is the key quality that determines success. Similarly, when it comes to the healthcare business, medical centres too must evaluate their performance from time to time.
In most businesses, performance measurement is a rather straightforward task. Not so in the case of healthcare agencies; here performance cannot be measured by financial fitness alone. There are a large number of KPIs to be considered that often overlap to present a complex picture.
Among these, the patient recovery rate is perhaps one of the most essential KPIs to track. An enhanced patient recovery rate is often thought to be synonymous with better patient care and faster cures.
But what affects this all-important factor? What are the KPIs that you must be ready to track for evaluating the patient recovery rates? This is exactly the topic we are going to focus on today.
What’s more, we’re also going to give you some tips on how to stay on top.
Put simply, Wait Time refers to the time period that patients have to wait before they are attended by a physician. This is one of the crucial KPIs that affect patient recovery rates.
When patients have to wait for a long time to be attended, this can lead to unwarranted complications. Patients may develop problems that could have been potentially avoided if the doctor had attended them earlier. In extreme cases, inordinate wait times can even lead to fatalities.
That’s why, it’s essential that when a patient comes in, they should be attended immediately. At least, a trained nurse should be present so as to help the patient. This can lead to greater patient confidence, and also improved chances of recovery.
Number Of Beds Available
This is applicable only for in-patient cases but is important nonetheless. Any medical facility that provides in-patient facilities must have the required number of beds. This is essential so that no patient is turned away from the facility when they need attention.
In case a patient with immediate admission needs comes in, the medical facility should be ready to help them. This means having an adequate quantity of available beds that can be offered. In case a patient who needs admission is denied, this can lead to significant delays in recovery.
To ensure that your medical facility doesn’t face this problem, you need to assess the average in-patient rates and work accordingly. This guarantee that any patient who needs care is not denied the same.
This is a vital KPI, and essentially denotes the number of patients that each doctor has to attend in a day. The patient/doctor ratio is a measure that can be construed in different ways by different institutions.
How does it affect patient recovery rates? Just consider this: if more doctors are available, then more patients can be helped at a time. This naturally leads to better recovery rates.
Also, a good patient/doctor ratio also eases the burden on the doctors themselves. This allows them to give their full attention to the patients, and serve them better.
This refers to the number of discharged patients who had to be readmitted within a fixed time period. Now, if the readmission was routine then this might actually help the patient recover.
However, in case the patient had to return due to unforeseen complications, this might be seen as a negative. Therefore, high readmission rates might be indicative of low patient recovery rates.
Therefore, when assessing patient recovery rates, readmission rates must be taken into account. At the same time, the cause of readmission must also be considered.
Proper KPI assessment is vital to the success of any business. And in case of medical facilities, this is doubly true. Medical businesses need to keep track of their financial performance indicators. Along with that, they must also pay special attention to patient care metrics.
KPeyes helps your business do both with ease. Using advanced analytics, our system allows you to keep a complete track of patient as well as business metrics. By combining the two, your medical business can scale to the levels you truly desire.