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As hospitals faced the recession and tighter financial constraints than ever before, we've seen our clients find cost-savings and efficiencies in their operation. And, they are ready to showcase their strategies for success.
For more than 30 years, we have provided quantitative benchmarks and healthcare intelligence solutions that drive cost-saving and quality-improvement decisions for hospitals. Now, some of those hospitals are going on the record to share the savings and performance improvements they've experienced through implementing Thomson Reuters solutions.
- The Ohio State University Medical Center Improved Bottom-line Performance by $15 Million
University Hospital East (part of the OSU Medical Center) was facing a projected $15 million loss in 2008. To combat this possibility, the hospital created a financial turnaround team and leveraged the ACTION O-I® Operational Performance Improvement Solution to examine its expense management. Using ACTION O-I, the hospital was able to offset the substantial revenue shortfall by improving operating efficiencies and streamlining budgets. Although a three-year plan was drafted, this financial recovery took place in the very first year. The hospital improved bottom-line performance by $15 million. Read more
- Tallahassee Memorial HealthCare Identified $5 Million in Growth Opportunities
Tallahassee Memorial was good at collecting data, but lacked an effective vehicle to communicate the data's impact on outcomes. The hospital employed the benchmarking data in the Thomson Reuters Clinical Improvement Performance and Operational Improvement Solutions, and the market intelligence from the Strategic Planning Solutions to create a comprehensive dashboard combining all the information and making it accessible to the entire organization. With data being pulled from every corner of the hospital and the new "at-a-glance" display, the administration knew where to focus process changes, improvement initiatives, and planning strategies. This intelligence enabled Tallahassee Memorial to identify a potential $5 million in growth opportunities, decrease mortality by 23 percent, and earn recognition as a Thomson Reuters 100 Top Hospitals Performance Improvement Leader. Read more
- The Saint Barnabas Health Care System Saved $4+ Million by Having Medical Centers Collaborate
In the past, Saint Barnabas medical centers handled performance improvement independently. With increasing pressure from the economic downturn and the higher standards for quality and safety, the healthcare system decided its facilities should collaborate on these efforts. Three areas were selected for improvement: Surgery, Cardiology, and Obstetrics. Working closely with Saint Barnabas staff, Thomson Reuters Clinical Consulting Services team established a 90-day, rapid-cycle improvement plan. Results across the initiatives surpassed $4 million. Read more
- Christiana Care Health System Decreased Length of Stay and Variation with Performance Reports
At Christiana Care, volume in excess of 90 percent capacity and patient flow issues were only exacerbated by prolonged lengths of stay (LOS). To better understand the cause of the extensive hospital stays, the health system identified and analyzed the 10 high-volume diagnosis-related groups (DRGs). Using the CareDiscovery™ Clinical Performance Improvement Solution, these DRGs were compared to and benchmarked against the national mean to identify improvement opportunities in length of stay, complications, mortality, and costs. The results were shared with physicians and their participation in the improvement initiative helped reduce LOS for four DRGs, including heart failure, syncope, pneumonia, and cellulitis. They also helped decrease variation in care-giving. Read more
GET STARTED WITH A REVIEW OF YOUR
FACILITY'S PERFORMANCE
Part of The 100 Top Hospitals®: National Benchmark report, the Performance Matrix is a breakthrough analysis providing an unprecedented look at your performance on financial, quality improvement, efficiency, and patient safety measures as compared to the nation's top hospitals. Our assessment reviews the 100 Top Hospitals Performance Matrix for your organization to evaluate the impact of previous strategies on your organization, and help concentrate your efforts on opportunities that offer the biggest cost savings and efficiencies — while never losing focus on quality improvement.
As part of our Save $4 Billion Campaign, we continue to offer a complimentary assessment to hospital CEOs. Knowing your performance and rate of improvement as compared to top-performing peers will help you:
- Assess the effectiveness of leadership strategies
- Identify your hospital's stage in the journey to excellence and determine strategies to achieve the next stage
- Uncovers which metrics move fastest and slowest over five years and how strategies impacted them
- Determine a direction for strategic improvement and a clear basis from which to set those strategies
- Forge a path for the journey to the highest levels of consistent and balanced performance
- Demonstrate greater value to the community you serve year after year
Health system CEOs are invited to request a complimentary review of system-level scores for their system from our ground-breaking 100 Top Hospitals Health System Quality/Efficiency Benchmarks study. Published on August 10, 2009, the study evaluates outcomes and efficiency across health systems, highlights the relative level of care provided, and underscores the potential power of health systems to effect rapid change in quality.
In this discussion, our experts will provide objective insight to help you answer questions such as:
- What is the relative level of quality provided by our health system as an organization?
- How do our system's overall performance and efficiency measures compare to
other systems?
- Are performance incentives effective at driving systemic excellence?
- What are the key areas of focus that will make the greatest impact at both the
system and member-hospital level?
Read more case studies, or learn more about the Save $4 Billion Campaign.
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