Which is the most important KPI in healthcare?5m 08s
In their One Question for UpTop Health video series, UpTop Health experts discuss which KPI is the most important in healthcare. For more information: 7 KPIs to Measure the ROI of UX Design
Moderator: Hi, welcome to One Question with UpTop Health. Today we’re going to talk about the article “7 KPI examples to assess ROI in your UX design.” My first question is for healthcare, which is the most important key performance indicator or KPI in healthcare? Michael could you start us please?
Michael: Yeah, sure you know, honestly, I think it depends on your organization and what your primary business goals are and what you’re trying to achieve. I think all of these KPIs have merits, they’re all interrelated. Some are specific metrics specifically the conversion, drop-off rate, time on task, versus the others, you know, they’re more general indicators, the SUS score and NPS scores are general indicators. So if you think about it, As an example if you’re a Payer, likely the KPI that’s going to be most important to you is conversion rates trying to get as many new members in the door as possible. But then a close second or an equal second would be retaining these members your over year.
All of these KPIs play a role and you know, let’s exclude SUS and NPS now, but I like to think of this as a kind of metaphor and I think of the rest of the KPIs as gears on a machine any one of these gears, if any one of these gears are not operating at its peak efficiency, let’s just say, you know, they’re not greased properly. The overall machine would not be running as smooth as it should be and you could think of the SUS and the NPS scores as the overall performance of the machine. So unfortunately I cannot just pick one KPI. I think it absolutely depends on what you’re trying to do, what your business is and what you’re trying to achieve, Craig?
Craig: Yeah, I agree with Mike, you know, the seven that we called out our high-level KPIs that across the board you would want to look at but depending on your business, the organizational goals, the KPIs might be different. So for instance, if you are a healthcare delivery organization or a provider it might be more about being able to make sure that your providers are discoverable, that appointments are able to be set more easily looking at things across multiple devices and screens.
In more of an omni-channel perspective are some different KPIs that you would want to include. And you know conversion can be looked at in a couple different ways to Mike’s point about trying to get members to sign up. It’s, it’s not because most healthcare is provided through the employer, the employer selects the payer and then the plan you might have a choice between multiple plans. So when we talk about conversion, it’s not straight a straight one to one comparison to e-commerce, but there may be some different plans that you want that member to potentially select with different add-on services. That would be an enhancement that would benefit the member and benefit the payer and so thinking about things from that perspective is a little deeper than just looking at the top level, but the one thing I think we would definitely agree on is there is no one KPI.
If you looked at just one in a very narrow way you could actually be chasing a woozle as I’ve heard before where you’re actually chasing the wrong thing and looking at it more holistically, I think is the best approach. We actually put together a healthcare CX metric checklist with some other recommended or suggested KPIs to consider. If you’re a payer or provider to think about things in a more holistic level specific to your business versus just some best practice ideas. But in this article around the seven KPI examples, it was really a way to tie back for you the healthcare organization how you would use our look at KPIs to measure the ROI of your UX investment.
Moderator: Thanks guys. Yeah.
Craig/Mike: You’re welcome. Take care.