What is Hospital Benchmarking?
Being an effective hospital requires information. Information on process efficiency and on outcomes. Benchmarking provides important management information and is a powerful assessment instrument, which shows performance indicators of your hospital against other hospital organizations.
Why should we benchmark?
In todayís market, understanding the competition is more important than ever. What you are doing or are not doing may cost you in the long run. Gathering data and finding out where your hospital stands within its industry can help management direct strategic initiatives, identify improvement opportunities, and select realistic targets.