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6 1 Journal Payment Systems and Planning.docx 6-1 Journal: Payment Systems and Planning

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6_1_Journal_Payment_Systems_and_Planning.docx 6-1 Journal: Payment Systems and Planning in Healthcare Southern New Hampshire University In healthcare, benchmarking has been around since 1985, and its objective was t ...

6_1_Journal_Payment_Systems_and_Planning.docx 6-1 Journal: Payment Systems and Planning in Healthcare Southern New Hampshire University In healthcare, benchmarking has been around since 1985, and its objective was to show performance metrics that compare data within similar organizations (Health Catalyst, 2018). This development helped organizations know where they stand amongst their peers and learn what areas of improvement need addressing within their organization (Health Catalyst, 2018). Healthcare benchmarking has focused on specific areas such as quality management, inpatient, financial, claim base, and operations (Health Catalyst, 2018). Healthcare benchmarking consists of four internal types that deal with specific areas within an organization, such as offices, clinics, and departments, which allows you to evaluate them based on performance management. These options give you the best way to monitor change (Foley, 2020). The second is competitive; this option gives you the ability to compare your metrics against your peers in the same geographic area in your marketplace (Foley, 2020). The third is functional benchmarking; this gives you the ability to compare yourself to organizations from a different business, comparable in metrics (Foley, 2020). This option gives you more insight into operational data, allowing you to learn new things, such as system availability and a collection time (Foley, 2020). The fourth is generic; this process looks past data and focus primarily on general processes, giving new . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . .. .. . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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