Target setting tips tricks and traps
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Target setting is critical to successful healthcare cost reduction efforts. Here we show 10 Tips, Tricks, and Traps.
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Effective KPIs: 6 common problems in target setting and how to solve them
Effective KPIs cannot be just copied from some industry list, one need to develop them in the specific business context and align with company's objectives. Learn how to avoid 6 typical problems with KPIs and target settings.
"Upgrade is needed" indicator for your business scorecard
One of our customers asked, how often he should do a major upgrade of their Balanced Scorecard. I had some thoughts on the topic which mainly were focused on the link between a company's strategy and a Balanced Scorecard. Trying to put things together I found out that an upgrade plan for the Balanced Scorecard is quite similar to the one for a car:
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-- There are some minor updates, choosing better KPIs if needed; which are similar to car's regular service checks;
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Following a car analogy: modern cars have an oil life indicator that is based on the measurement of electric conductivity. It tells a driver based on actual data when it is time to go to the service center. My idea is to supply a business scorecard with an "upgrade is needed" indicator, which might be as simple as a countdown of a specified period of time or a sophisticated combination of other indicators.
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http://www.bscdesigner.com/upgrade-is-needed-indicator-for-bsc.htm
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http://www.bscdesigner.com/scorecard-and-kpis-101.htm
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Please, share your thoughts about the scorecards as a tool:
-- For what task do you use them?
-- Do you define the relevant importance of indicators on the scorecard?
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"Upgrade is needed" indicator for your business scorecard
One of our customers asked, how often he should do a major upgrade of their Balanced Scorecard. I had some thoughts on the topic which mainly were focused on the link between a company's strategy and a Balanced Scorecard. Trying to put things together I found out that an upgrade plan for the Balanced Scorecard is quite similar to the one for a car:
-- One need for feeding BSC with data; is similar to tanking a car with fuel;
-- There are some minor updates, choosing better KPIs if needed; which are similar to car's regular service checks;
-- There are major upgrades of BSC stressed by changed business environment; in car analogy, as when one buys a new car because life's priorities have changed;
Following a car analogy: modern cars have an oil life indicator that is based on the measurement of electric conductivity. It tells a driver based on actual data when it is time to go to the service center. My idea is to supply a business scorecard with an "upgrade is needed" indicator, which might be as simple as a countdown of a specified period of time or a sophisticated combination of other indicators.
All these ideas were summarized in the presentation and the article here:
http://www.bscdesigner.com/upgrade-is-needed-indicator-for-bsc.htm
What do you think about an idea to use "upgrade is needed" indicator on a scorecard?
Scorecard and KPIs 101
After another question about “calculating the scorecard index” I understood that some of our clients don’t have a clear understanding of the math that stands behind a KPI, its performance, and the scorecard. I decided to create a “101”-level presentation that explains the basics of KPI from the mathematical point of view:
It is based on the article:
http://www.bscdesigner.com/scorecard-and-kpis-101.htm
Reviewed topics are:
- Calculating the performance using “min” and “max” of an indicator;
- Using linear and non-linear functions for the performance;
- Calculating the progress from the baseline towards target;
- Introduction of the indicator “weight” to reflect a relevant importance of an indicator;
- Calculating the total performance index of the scorecard.
Please, share your thoughts about the scorecards as a tool:
-- For what task do you use them?
-- Do you define the relevant importance of indicators on the scorecard?
-- Do you calculate and use the total performance index?
The big picture of the Balanced Scorecard
Balanced Scorecard can help improve your company’s performance. To facilitate BSC in boosting your business performance, you first have to understand how the system works from the inside. Learn more: http://www.bscdesigner.com/get-the-big-picture-about-balanced-scorecard-its-connections-and-roles.htm
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The document discusses the benefits and widespread use of the balanced scorecard approach for strategy execution. It notes that over 50% of large enterprises use some type of balanced scorecard. The balanced scorecard allows companies to link objectives and initiatives, monitor performance, and ensure employees understand how their work ties to company strategy. Automating the balanced scorecard with software like BSC Designer helps companies scale balanced scorecard implementation across departments to fully realize benefits like improved strategy execution and business performance.
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Recently I came across a research done back in 1997 that empirically proved that SWOT does not work! It seems that SWOT is promoted as a must-use business tool in any MBA program, and numerous consultants are happy to sell it and its derivatives, but the benefit for the real business is questionable.
I shared the results of the research and some thoughts on the topic in the new article and this presentation:
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3) Include key stakeholders like the primary contact, business unit leader, or C-level executive.
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ОЛЬГА СИДОРІНА "OKR та Performance management в стартапі" HR Connect
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2. A paradigm shift is needed to change discussions from staff augmentation to focusing on solutions, risks, and how the organization can help clients achieve objectives.
3. A future state delivery model is proposed with field managers and consultants focused on problem-solving to better support a solutions-oriented business model.
4. Strategies are outlined to improve efficiency including driving up bill rates and margins through solutions, conversions,
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ОЛЬГА СИДОРІНА "OKR та Performance management в стартапі" HR Connect
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Got a question about this presentation? Drop us an email: evolve@revmarketing.co.uk or call us on 02476 610 054.
Visit us at: www.revmarketing.co.uk
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Identifying Pain Points: Innovaccer surveyed healthcare providers to understand their difficulties with data integration, care coordination, and patient engagement. They found widespread frustration with siloed systems and inefficient workflows.
Competitive Analysis: Analyzed competitors offering similar solutions in healthcare analytics and interoperability. Identified gaps in comprehensive data aggregation, real-time analytics, and actionable insights.
Regulatory Compliance: Ensured their platform complied with HIPAA and other healthcare data privacy regulations. This compliance was crucial to gaining trust from healthcare providers wary of data security issues.
Customer Validation: Conducted pilot programs with several healthcare organizations to validate the platform's effectiveness in improving care outcomes and operational efficiency. Gathered feedback to refine features and user interface.
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This lays foundation of scoping research project what are the
Before embarking on a research project, especially one aimed at scoping and defining parameters like the one described for health tech IT, several crucial considerations should be addressed. Here’s a comprehensive guide covering key aspects to ensure a well-structured and successful research initiative:
1. Define Research Objectives and Scope
Clear Objectives: Define specific goals such as understanding market needs, identifying new opportunities, assessing risks, or refining pricing strategies.
Scope Definition: Clearly outline the boundaries of the research in terms of geographical focus, target demographics (e.g., age, socio-economic status), and industry sectors (e.g., healthcare IT).
3. Review Existing Literature and Resources
Literature Review: Conduct a thorough review of existing research, market reports, and relevant literature to build foundational knowledge.
Gap Analysis: Identify gaps in existing knowledge or areas where further exploration is needed.
4. Select Research Methodology and Tools
Methodological Approach: Choose appropriate research methods such as surveys, interviews, focus groups, or data analytics.
Tools and Resources: Select tools like Google Forms for surveys, analytics platforms (e.g., SimilarWeb, Statista), and expert consultations.
5. Ethical Considerations and Compliance
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Data Privacy: Implement measures to protect participant confidentiality and adhere to data protection regulations (e.g., GDPR, HIPAA).
6. Budget and Resource Allocation
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Contingency Planning: Anticipate and plan for unforeseen challenges or adjustments to the research plan.
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Interview and Focus Group Guides: Prepare detailed scripts and discussion points for qualitative data collection.
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Here is the summary of hypotension:
Hypotension, or low blood pressure, is when the pressure of blood circulating in the body is lower than normal or expected. It's only a problem if it negatively impacts the body and causes symptoms. Normal blood pressure is usually between 90/60 mmHg and 120/80 mmHg, but pressures below 90/60 are generally considered hypotensive.
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