Summary:
The healthcare industry has rapidly moved from pay-for-procedure to a patient-centric model, with patient satisfaction serving as a key indicator of success. Today’s healthcare environment is rife with hospital mergers and acquisitions, pressures on hospitals to lower costs and achieve revenue goals, and the complexity of compliance issues related to the Affordable Healthcare Act (ACA) among other government mandates.
Overview:
The dynamics of money and the breakneck pace of change challenge some of the most fundamental and long-held beliefs around managing, planning and supporting healthcare organisations. This whitepaper explores how too-performing healthcare institutions have adopted a range of human capital management technologies and best practices in response to these changes.
This trend prompted Aberdeen Group to conduct a survey of healthcare professionals in July 2015 and the responses they gathered revealed much about the way Best-in-class organisations are adapting to the new normal. In brief, the Best-in-class view talent as the key to increased Hospital Consumer Assessment of Healthcare Providers and Systems scores (HCAHPS), the leading measure of patient satisfaction, and have accordingly devoted themselves to mastering the talent management process—from sourcing, screening and hiring onward.
The bottom line is that the talent rules. Also, if you do the right things from day one of the hiring process, profitability, employee engagement and patient satisfaction should naturally increase. A mandated and sensible focus on patient satisfaction, one giving rise to patient-centric models of care, has become the standard operating procedure throughout the industry. Indeed, the majority of Best-in-class organisations, as well as the majority of those belonging to the industry average, share the view that patient-centricity is essential today. What is somewhat astonishing is that the best-in-class are twice as likely as the laggards to hold this view.
