Our fiscal year begins April 1 and on April 1, 2013 we entered Fiscal Year 2014 or FY 14 for short. The year is labeled by the calendar year in which it ends and FY 14 ends on March 31, 2014.
We set performance goals each year based on the strategic plan which has input from physicians, the board, department directors and administration. The goals we set help to drive performance, so much so that over the past two years every director has been required to establish goals tied to the organizations goals and they are held accountable to their department goals at evaluation time.
Our organizational goals fall into 5 categories, or pillars, People, Service, Quality, Financial and Growth and I will walk you through FY 14 goals for each pillar:
People: Achieve staff satisfaction at the 75th percentile for all hospitals in the U.S. We use a company called Health Stream to measure staff satisfaction. We want happy staff.
Service: Achieve patient satisfaction at the 75th percentile for all hospitals in the U.S. We use Health Stream to measure patient satisfaction as well. We want happy patients.
Quality: Increase Core Measure Performance to 98%. Core measure performance looks at our ORYX measures and our performance figures into our Medicare reimbursement. We want to follow best practices.
Financial: Achieve an operating margin of 3.5%. This one requires volume to hit budget and expenses to remain under control. We want to continue to invest in our facilities, staff and technology.
Growth: Increase outpatient visits by 3% and physician clinic RVU’s by 2.5%. Health care growth is occurring in outpatient areas and many hospitals are seeing declines in their inpatient admissions. We plan to have inpatient admissions hold steady and increase outpatient activity. We want to continue to grow and expand as an organization because declining reimbursements mean we need to care for more patients just to hold steady.
These are our organizational goals, each department director will create goals related to each Pillar and then be accountable for performance in those areas. Goals and measurement are important, they help to keep everyone focused on those things that will allow us to be successful as an organization.
Health care is a tough business, there’s no need to focus energy on those things that don’t add value to our patients and our organization and our goals help to focus our efforts on the right things.