Unlocking the Power of Your Data
Whether you’re forecasting for the future, looking to identify your hospital’s foodservice strengths, or building your continuous improvement strategy, tracking your data and understanding that data will better position your operation to pinpoint avoidable outcomes and make data-driven decisions.
In today’s ever changing and competitive environment, many hospitals are struggling to keep pace with accelerating data demands as the sheer volume and complexity continue to increase. Hospitals utilizing manual entry and extraction are finding that not only is this non-automated process time consuming but, in many cases, simply isn’t scalable or conducive to a lean organization working toward operational excellence.
Have you stopped to consider the hidden costs in your operation and how impactful it would be to identify the areas impeding cash flow?
Benchmarking is your tool for internal and external comparison and informed decision-making.
So, how can you set foodservice operation benchmarks to better help you run daily operations, drive greater efficiencies, and improve your bottom line?
Start with the below list as you begin to consider the types of benchmarking at your hospital or across your health system.
Internal. Internal benchmarking is the comparison of a business process to a similar process inside your own organization. This is typically used to acquire the best internal business practices.
For example, perhaps you want to know whether your midwest clinic compared to your southeast clinic scores higher for overall patient satisfaction. Monitoring this data across your health system could help easily identify issues that need to be addressed.
Competitive. It’s important to monitor how your operation is doing compared to other similar operations. This type of benchmarking means you’re looking at your own data within your operation in relation to a direct competitor that is serving the same customer base.
Functional. This is a comparison to similar or identical practices within the same or similar functions outside of your immediate industry.
Generic. This type of benchmarking broadly conceptualizes unrelated business processes or functions that can be practiced in the same or similar ways regardless of the industry.
Through benchmarking, you’re creating Key Performance Indicators (KPI) that measure performance and help propel your business forward and uncover opportunities that drive greater efficiencies.
Learn more about the importance of benchmarking by joining CBORD during its free webinar, "Ready, Set, Benchmark." Find out more about CBORD’s Analytics tool and how it can help you unlock the power of your operation’s data.