Performance Manager: Identify Opportunities for Improvement
The iVantage approach to assessing opportunity is based on our deep understanding of hospital operations and of the relationships and trade-offs that leaders must manage within their functional, departmental, and clinical service line areas. As part of the operational review process, over 150 tightly-defined functions are compared for external performance and internal trends.
Each function is measured on a relevant volume statistic against a benchmark calculation to determine variation and savings potential. Variance calculations are customized based upon where the organization is on their performance improvement journey, allowing the comparison percentile to be moved up or down. Cross-maps of costs and hours are easily accessible to ensure transparency of the data. iVantage Performance Manager starts at the most detailed level of comparative analysis and aggregates the differences between the base facility performance and the relevant peer group. Additional drill-down tools for costs and skill mix are provided as well.
At iVantage we map the data – in close collaboration with our clients – to strict definitions to be absolutely certain there is comparability across the database. Once that process is complete, clients can look for performance opportunities with confidence.