Hospital leaders across the nation use benchmarking to determine the areas of their business that need improvement. The continuous process of benchmarking allows hospital executives to see how their organizations stack up against local and regional competitors as well as national leaders. (Ellison, 2019)
Ellison, A. (2019). 45 financial benchmarking for hospital executives. https://www.beckershospitalreview.com/finance/45-financial-benchmarks-for-hospital-executives-062619.html
Prepare a 5-page benchmark analysis for your staff by responding to the following:
Discuss the benchmarks used in financial analysis
Explain the benefits of financial benchmarking.
Evaluate the impact of balancing benefits to reduce harms and cost through screening and prevention services.
Identify the benefits of patient screening
Describe how screening and preventive care impact cost
Discuss the GRADE system and its purpose
Explain how the GRADE system is applied to reduce harm to patients
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