"What get measured, gets managed."
CFORuth & Associates can help you measure and manage your business through Key Performance Indicators (KPIs). We believe that a culture that values analytics not only helps our clients measure success, but also enables clients to make the optimal management decisions with objective data at their fingertips. By measuring trends and communicating actionable information to your team, you will confirm your areas of success and identify opportunities for improvement. In our experience, we have found that additional training, process adjustments, and accountability improves business outcomes in many areas, including customer satisfaction and retention.
Our team of professionals can help you create sustainable insight through the following services:
- Determining the best KPIs for your business.
- Setting goals and benchmarking performance, using relevant data for your business from best in class performers.
- Identifying, developing, and implementing automation tools to use with your existing operational and financial systems to measure and drive results.
- Establishing methods to communicate and incorporate actionable data regularly into your business’s management decisions.
Case studies
CFORuth & Associates improved cash flows by 50% and significantly reduced operating costs for Hospital Physician Partners by establishing Key Performance Indicators (KPIs) and including such KPIs in their daily workflows. These indicators provided significant data to measure quality, compliance, and financial outcomes associated with the excellent emergency room services provided by the Company.
In a healthcare services environment, KPI’s might include:
- Days to bill and / or collect
- Electronic billing rejection percentage
- Maximizing revenue per event (RVU per physician commensurate to their assignments)
- Coding Accuracy
Our team engineered, developed and implemented an easy to use Dashboard tools to measure, report, and access the underlying details of the KPIs. This tool provided direct drill down capabilities from the dashboard to the underlying files and data. This increased speed/efficiency for the operating team to correct transactions and/or adjust processes. The dashboard also provided reporting and communication tools, whereby an executive or manager could set alerts (as defined by the user) to automatically notify them via email upon the occurrence of defined circumstances.
HOW CAN CFORUTH & ASSOCIATES ASSIST YOU?
Contact Ruth and schedule a one day affordable review to determine which KPIs your team should be tracking.
CFORuth & Associates leads performance improvement and dynamic change initiatives. Working together, we can achieve more.