Main health metrics used to measure performance in the healthcare industry | Quantzig

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LONDON–(BUSINESS WIRE)–Quantzig, a global analytics solutions provider, has announced the completion of its latest article on the main health metrics used to measure performance in the health sector.

The introduction of data science in this technologically developed world has amplified the importance of business intelligence, especially in the healthcare sector. The healthcare industry produces a significant amount of data from process, patients, testing, operations, and research. It is not easy to understand such unstructured data without using proper business intelligence tools. Additionally, the healthcare industry can use data visualization tools and predictive models to gain insights into work dispatch, patient care, clinical operations, and general administration. Quantzig has listed some of the major health metrics used to measure performance in the healthcare industry in this blog.

According to health industry experts at Quantzig“Using health metrics in the healthcare industry to assess performance can help identify areas for improvement.”

See Quantzig’s full list of main health metrics used to measure performance in the health sector

Quantzig
is a global analytics consulting firm focused on leveraging analytics for informed decision-making and delivering solutions to clients across multiple industry sectors. Below are the main health metrics used to measure performance in the healthcare industry.

Health indicators used to measure performance in the health sector

  • Average length of stay: This health indicator calculates the average time spent by patients admitted to health facilities. The average length of stay is generally used as a quality indicator by medical reimbursement companies to create a potential payment system. The average number of days spent in hospital is an indicator of efficiency in the health sector.
  • Hospital readmission rate: This measures the number of patients who are readmitted to the health facility soon after their initial discharge. Metrics provide essential understanding of the quality of care received by the patient in hospitals. Hospitals should be notified when readmission rates increase, as this may signify a lack of equipment, a shortage of staff, or flag areas with special needs.
  • Patient Wait Times: Patient wait time is a useful health metric for assessing patient satisfaction as well as hospital productivity. It is widely used to measure the time it takes to get treatment from when they arrive at the health facility. Understaffing or poor operational design can usually lead to longer wait times for patients. Measuring this metric over time allows hospitals to find trends and reallocate workforce to ensure effective patient management.
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See the full list of key health metrics used to measure performance in the Health Industry Blog here:

https://www.quantzig.com/blog/best-health-metrics-use-performance-measurement-healthcare-industry

About Quantzig

Quantzig is a global analytics and consulting firm with offices in the US, UK, Canada, China and India. For more than 15 years, we have been helping our customers around the world with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm has over 120 clients, including 45 Fortune 500 companies. For more information on all of Quantzig’s services and the solutions they have provided to Fortune 500 clients across all industries, please contact us. .

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