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What type of staff performance indicators would you monitor to ensure you were meeting your budget? What type of staff performance indicators would you monitor to ensure you were meeting your budget? What type of staff performance indicators would you monitor to ensure you were meeting your budget? Topic 7 DQ 2 Jan 27-31, 2022 What type of staff performance indicators would you monitor to ensure you were meeting your budget? How would you monitor these indicators? REPLY TO DISCUSSION The healthcare industry is constantly changing, and healthcare organizations must ensure standards are maintained and monitored to thrive and function successfully. Healthcare indicators help monitor how well organizations are functioning and show areas that need improvement. “Key performance indicators are quantifiable measurements that show how well an organization, team, or individual is performing against a predetermined goal or objective” (Mind Tools, n.d.). Performance indicators measure how well healthcare organizations operate in managing utilization which is the demand for services by consumers (Penner, 2017). Financial indicators measure the monetary values in healthcare organizations (Penner, 2017). Healthcare facilities must create a balance in ensuring the best patient care while managing staffing, resources, and associated costs. Some significant performance indicators to consider ensuring facilities stay within budget are staff-to-patient ratio, bed occupancy rate, average hospital stay, treatment costs, patient satisfaction, and employee satisfaction. To monitor performance indicators, facilities must track records and progress, generate reports and compare to see if any improvement is needed; doing so helps to ensure positive patient outcomes and organizational success. References   Mind Tools. (n.d.). Performance management and KPIs. https://www.mindtools.com/pages/article/newTMM_87.htm#:~:text=A%20Key%20Performance%20Indicator%20(KPI)%20is%20a%20quantifiable%20measurement%20that,a%20predetermined%20goal%20or%20objective. Click here to ORDER an A++ paper from our Verified MASTERS and DOCTORATE WRITERS: What type of staff performance indicators would you monitor to ensure you were meeting your budget? Penner, S. J. (2017). Economics and Financial Management for Nurses and Nurse Leaders (3rd ed.). Springer Publishing Company. ISBN: 978-0-8261-6001-0 I agree, healthcare is always changing. New discoveries are being made everyday. Healthcare organizations need to adopt this changes so as to provide up to date care that is effective to their patients and cost effective. This changes require a lot of resources to adapt to, and it is up to healthcare organizations to decide which changes are worth while to adopt. How well the company manages it finances does determine the pace to which change does take place. Healthcare organizations should also aim to improve employee satisfaction by giving them a conducive place to work, and offer them competitive wages. Patient satisfaction should also be a priority for any healthcare organization. Patients should be made to feel that their healthcare needs are met, and they should be involved in their treatment plan. Healthcare organizations should always strive to make improvements on their service delivery to their patients and their workers as a whole (Selim et al.,2018) Reference: Selim Ahmed, Noor Hazilah Abd Manaf, & Rafikul Islam. (2018). Measuring Lean Six Sigma and quality performance for healthcare organizations. International Journal of Quality and Service Sciences, 10(3), 267–278. https://doi.org/10.1108/IJQSS-09-2017-0076 Order Now