Analytics

Ask the Expert: Business Metrics

January 6, 2016 10:38 am

What metrics should hospitals use for business planning?


Answer: It depends if you are looking at global or department-specific industry benchmarks. The following are some global benchmarks. Most local associations can provide financial comparisons.

  • Accounts receivable days
  • Accounts payable days
  • Days cash on hand
  • Debt service coverage
  • Average age of plant
  • Case mix index
  • Inpatient and outpatient volume
  • Operating income/profit margin percentage
  • FTE per adjusted occupied bed

This question was answered by: Caswell Samms, network CFO, Lincoln Medical Center, NYC Health + Hospitals, Bronx, N.Y.


What do you think? Please share your thoughts on this question in the comments section below.

The information provided through the Forum’s Ask the Expert service does not constitute legal advice, even when the advice is provided by lawyers. You need to obtain your own legal counsel for legal advice, and consider the laws and regulations that govern your state. The content and opinions expressed are those of the Forum experts, and not that of their employers or of HFMA. HFMA does not endorse the material or warrant or guarantee its accuracy. The responses are based only on the specific facts or circumstances provided. Forum experts cannot be held liable for outcomes related to any information provided.

Pose another question to the Forum experts.

Advertisements

googletag.cmd.push( function () { googletag.display( 'hfma-gpt-text1' ); } );
googletag.cmd.push( function () { googletag.display( 'hfma-gpt-text2' ); } );
googletag.cmd.push( function () { googletag.display( 'hfma-gpt-text3' ); } );
googletag.cmd.push( function () { googletag.display( 'hfma-gpt-text4' ); } );
googletag.cmd.push( function () { googletag.display( 'hfma-gpt-text5' ); } );
googletag.cmd.push( function () { googletag.display( 'hfma-gpt-text6' ); } );
googletag.cmd.push( function () { googletag.display( 'hfma-gpt-text7' ); } );
googletag.cmd.push( function () { googletag.display( 'hfma-gpt-leaderboard' ); } );