Home Health & Hospice Agencies: 4 KPIs Every Agency Must Watch
Metrics are an important tool for any organization, including those in the home health and hospice industry. Much of the long-term success of a HHA and Hospice agency stems from using the right metrics. Knowing which KPIs to track helps the organization to grow and keep up with and meet new standards. It can help keep costs under control, improve revenue, and maintain fiscal stability. By evaluating the results of key metrics, you can improve the quality of care and keep costs low.
The KPIs and organizational metrics of any HHA or hospice agency are also crucial for improving care and identifying weaknesses. Often, data from HHA and hospice agencies is out-of-date or inaccurate. Using inaccurate data and Metrics can inhibit the ability to identify strengths and weaknesses in a timely manner and provide a solid foundation for future planning. TSAT’s experience helps to identify the most effective analytics systems and use this information to help an agency better manage their data. In addition to this, we can create actionable business intelligence, which can help an agency meet new standards and stay fiscally sound.
So, what are the 4 KPIs every HHA and Hospice agency must watch?
- Quality Control and Performance Metrics
- Patient and Customer Experience Metrics
- Sales Metrics
- Financial Metrics
Why do you need to measure these for your agency?
- Quality control and agency performance is critical to measure because these could lead to quality of care concerns.
- Patient and customer experience and quality performance go hand in hand, not measuring patient or customer experience could have effects such as revenue loss and other negative issues. Measuring this KPI also allows you to put corrective measures in place quickly.
- Sales metric measuring is important because by not measuring this KPI you could miss opportunities to grow and expand your business.
- Financial metrics measuring is crucial to the operations of your agency, by not correctly tracking revenue, expenses, overhead, and calculating taxes correctly could leave your agency in financial ruin.
These KPIs show the organization’s ability to improve care while controlling costs. The data from properly tracking these metrics can help the organization make changes and improve patient outcomes. If an agency is delivering quality care, the metrics will show that it is delivering quality care.
TSAT is here to help your HHA or Hospice agency!
At TSAT, we know that a great businesses need to operate at high levels of service, accuracy, reliability, and throughput. We also know that the only way to ensure these things are achieved is to develop a comprehensive set of accounting and finance policies and procedures and to regularly train all personnel involved in the management and control of the company’s software. Only by taking steps toward accounting, quality assurance, and finances can a small business accounting department expand its business and improve its profit margins. It takes a little work to make sure that every aspect of small business accounting is running at full capacity, and we are here to help!
Here at TSAT, we are not simply tax preparers. We work with you to provide a 360-degree strategic financial advice, including small business operations and investment guidance. We will help you stay ahead of the curve when it small business or personal investments!
If you are a gig worker or small business owner looking to grow your business, TSAT’s AMAZING team considers much more than just your taxes!
TSAT’s Services will let you focus on your business’s core competencies! Whether you have a small business or you need help personally, TSAT can give you HOPE! Call us today!
Phone: (417) 208-2858
- Website: TSAT Accounting Solutions
- Facebook: TSAT Facebook
- Calendly : Quickly schedule a 15 minute call!
- Alignable: Connect with Us on Alignable!
“We want to Amaze our Clients not just serve them”. – Tabitha Smith