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COST/QUALITY STRATEGY
Deliver Value: know where you stand
Quality care that that is not cost effective isn't viable, and cost effective care that isn't high quality is unacceptable. Value in healthcare means high quality care that is cost effective---and you can know where you stand on both fronts with HMC.
The HMC Cost Quality Matrix
Only HMC provides an integrated look at costs and quality. Shown below is the summary HMC Cost and Quality Matrix. In addition, each cost element in your benchmark links to the relevant quality measures to deliver a comprehensive look at the cost of delivered quality. In the matrix below, the y-axis is quality and the x-axis is cost. HMC helps you to move your facility into Quadrant One of the Cost-Quality Matrix: High quality and low cost.
Know the location and nature of you cost issues, and target areas for improvement
To pursue performance improvement opportunities, it's not enough to know where there are opportunities to reduce costs. Prioritizing your organizations areas of focus depends on nature of the cost issues---and with HMC, the issues become crystal clear. Are they driven by physicians and quality issues or are they related to departmental performance---overhead, staffing, pay rated, productivity, system burdens... Effective prioritization is the first step in improving the probability of success and HMC’s fully integrated benchmark tools finds the root causes and makes the issues transparent.
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PARTNER TESTIMONIAL
"I would like to thank you and the HMC group for you continued support in our benchmarking efforts. We are fortunate to have a partner like HMC that helps us align goals with our hospital strategy, provide tools and forums for the education our management team, and exhibit the on-going willingness to assist us when the need arises.
HMC has become an important part of our culture and has challenged us to strive for our goal of providing the highest quality of care at the most appropriate cost. We are pleased to have the HMC partnership and look forward to future results and successes."
David Datz,
Regional Director Management Engineering
Phoenix, AZ
>> More Partner testimonials
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