Operational efficiency is the driver of success for hospitals today. In today’s fast-paced and fluctuating healthcare environment, it is essential that management teams focus on maximizing operational performance across all units. Studies have shown that a hospital’s operating room generates an estimated 70 percent of its revenue and is responsible for about 40 percent of its cost. This statistic highlights the need for maximum OR efficiency and that the relationship between compensation and performance cannot be understated.
Minimizing cost and maximizing quality is a constant balancing act. However, research has shown that hospitals can achieve stability by incorporating blended care teams into their labor structures. MD/CRNA care team models provide the most cost-efficient direction and supervision models without compromising quality service.
Another way hospitals can improve operational performance is through evaluation of operating room utilization and productivity. According to the Surgical Information Systems Survey of Hospital Executives, “73 percent of senior healthcare executives ranked increasing OR efficiency and production as the top strategy for reducing hospital costs.” OR performance is dependent on several factors including case cancellations, on-time starts, and capacity, and it is crucial to attain efficient productivity in order to realize a significant decrease in costs.
Although operational performance may seem an obvious priority for healthcare professionals, it is often overlooked. To optimize costs and gain value, surgical facilities must evaluate their current practices and procedures. To learn more about achieving clinical excellence, read Somnia’s latest white paper “Transforming the Value of Your Anesthesia Dollar.”
If you missed it, read the first part of this three-part blog series here, and be sure to return for the final installment, which will examine the critical contribution anesthesia can make to optimal financial performance.
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