When it comes to data, the goal is not just to have it, but to make it meaningful. Data tells us not just where we are, but more importantly, where we need to go.
One of the best ways to obtain understanding from data is to benchmark. Benchmarking is the act of comparing a performance measure (metric) to a standard. Organizations can benchmark against their own past performance, or against the performance of a set of regional and nationwide peers to evaluate their financial viability, operational efficiency and clinical effectiveness in the marketplace. Continue reading Giving Meaning to Measurement