Cost of Quality and Key Performance Indicators
The Cost of Quality (COQ) in healthcare comprises prevention, appraisal, and failure costs (internal and external). Emphasizing prevention can mitigate future external failures and costs. Key Performance Indicators (KPIs) should be simple, measurable, and industry-comparable, reflecting both financial and process perspectives. Analyzing KPIs like asset turnover, cash flow margin, and case mix complication indicators helps assess hospital performance and identify areas for improvement.
Evaluate the importance of key performance indicators (KPIs) in assessing hospital performance. How can KPIs like asset turnover and case mix complication indicators provide insights into the financial and operational efficiency of healthcare organizations?
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