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25 Healthcare Metrics & KPIs To Begin Tracking Today
Are you tracking the right healthcare key performance indicators? Take a look at 25 of the most important metrics.
The healthcare industry in the U.S. and abroad has undergone major policy and business model changes over the past decade. These changes have spurred healthcare companies to look into new healthcare metrics—or key performance indicators (KPIs)—to decide if they are meeting these new standards.
As a quick refresher, a KPI is a type of performance measurement that helps you understand how your organization or department is performing. A good KPI should be well defined, quantifiable, thoroughly communicated, and crucial to achieving your strategic goals.
If your organization is looking to track progress on these changes, you need to use the right key performance indicators (KPIs). In the infographic, we've provided the list of example KPIs. Below the outline, we’ve described the 25 KPIs you may be interested in trying. They're separated into several categories. Make sure you pick a few from each so you have a well balanced list of KPIs.
25 Healthcare Metrics & KPIs
- Patient Wait Time: Calculates the average amount of time a patient must wait between checking in and seeing a provider. This can help with staffing and scheduling and provide insight into patient satisfaction.
- Average Number Of Patient Rooms In Use At One Time: Shows how well space is used to treat patients and helps determine if more or less space is needed in the facility. Think about this as an occupancy rate, like at a hotel.
- Staff-To-Patient Ratio: Indicates the use and capacity of staff resources, which can affect the quality of patient care.
- Bed Or Room Turnover: Demonstrates how fast patients are moving in and out of the facility. This affects the efficiency of the facility and should be considered when looking at patient satisfaction. You might want to consider tying this one closely with readmittance rates to make sure you that you are not letting people leave the facility who are not well.
- Communication Between Primary Care Physician, Proceduralist, & Patient: Determines how frequently various parties are in communication with one another, increasing the quality of care for the patient. This is sometimes measured by satisfaction, and sometimes measured by the number of documented communication activities.
- Average Insurance Claim Processing Time & Cost: Averages the amount of time and money an organization spends processing insurance claims. When low, it indicates that the facility receives payment faster and there is less cost to the patient.
- Claims Denial Rate: Provides insight into the effectiveness of the organization's revenue cycle. A low claims denial rate means that the organization has more time to focus on patient care and spends less time on paperwork.
- Average Treatment Charge: Shows the average amount that a facility charges a patient for a treatment. It can be broken down by treatment or shown as an average of all treatments or treatment categories.
- Permanent Employee Wages: Records the value of wages (including bonuses) paid to all full-time employees during the reporting period. This is sometimes separated out by administration, and sometimes by direct providers of care.
- Number Of Media Mentions: Keeps track of how often you're mentioned in the media, which could include news outlets as well as social media. You may want to consider tracking positive and negative mentions separately.
- Overall Patient Satisfaction: Calculates satisfaction levels by combining several factors. This can be a great marketing tool for your organization if it's high, but a low number could signal a problem with other operations or services.
- Percentage of Patients Who Found Paperwork To Be "Clearly Written & Straightforward": Demonstrates whether a healthcare organization has ensured that written materials have clear instructions that patients can understand easily and respond to.
- Trainings Per Department: Tracks the amount of training each department provides or requires of their staff.
- Number Of Mistake Events: Measures the number of mistakes made in the organization, which can be tracked by mistake category. This can indicate the effectiveness of the employees and the equipment.
- Patient Confidentiality: Measures the number of times a patient's confidential medical records were compromised or seen by an unapproved party.
- Number Of Partnerships With Advocacy Groups: Counts the number of relationships established with other organizations. A high number of partnerships can increase the impact of campaigns and policy events.
- Childhood Immunizations: Demonstrates the number of children who have received immunizations, which reflects your contribution to overall community health.
- Number Of Educational Programs: Indicates the time and effort put into educating the public. This can be broken down into the type of program as well as the target audience for each program.
- Number Of Preterm Births: Counts the number of preterm births (under 37 weeks) that have occurred in the region.
- Patient Wait Times By Process Step: Shows the amount of time a patient must wait during their visit to the emergency area of the facility.
- Time Between Symptom Onset & Hospitalization: Gauges the amount of time between when a patient begins experiencing symptoms and when they were hospitalized.
- Number Of Visitors (Patients) Who Leave Without Being Seen: Indicates the number of people who were unwilling to wait to see a physician. This may help determine if more beds or staff are needed to handle the number of patients coming in.
- Medication Errors: Measures the number of times there is an error in prescribing medication at the facility. This includes when a mistake is made in the medication, patient, or dosage, and it applies to both inpatient and outpatient services.
- Patient Vs. Staff Ratio: Demonstrates the number of staff available per patient. May indicate whether the facility is overstaffed or understaffed.
- Patient Follow-Up: Measures the number of patients who receive follow-up after their visit to the facility. This could be from a physician, nurse, or other staff member asking about the visit and the patient's improvements.
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Need additional ideas of healthcare metrics to track? Take a look at this free list of metrics, organized in the eight categories above. They all include descriptions of how and why to measure that particular KPI, and they come in a simple and accessible Excel format.