10 Great Examples of Health Care OKRs

Healthcare is an act of providing organized treatment and medical attention to a community or an Individual. As a fast-growing sector, the health care industry strives to sustain the pace of the changes and the evolution that tends to downturn the economy. The growth of this sector is predominantly driven by the advancing technologies, medical device manufacturing, clinical trials, outsourcing companies, telemedicine technology, medical tourism, health insurance, and medical equipment manufacturing. This escalation in growth is supported and endured by both the government and the private sector by keeping with the times.

Like other sectors such as Retail, Banking, Insurance, Engineering, etc., the healthcare sector is also much in need to strategize their goals and targets. Based on a recent survey by policy advice, global healthcare spending could reach over $10 trillion by 2022. Considering the amount of spending, the effort and the contribution of each department in the sector has to be steady and measurable. Be it a mobile clinic that has to respond to the patient’s queries or a biggest multi speciality hospital that deals with the latest technologies and equipment based on the medical advancements, OKRs can help in achieving goals with its strategic goal-setting framework..

The primary objective of any healthcare provider is to provide higher quality patient care while lowering costs and reducing repeat hospitalizations. With OKRs, the healthcare leaders can set ambitious enrolment goals for the objective paired with expected improvements in health outcomes. OKRs help to focus on objectives towards reducing the burden of chronic disease and slow disease progression through new initiatives, program integration in a patient’s lifestyle, and discovering new ways to promote health across a patient’s life.

In order to help you to achieve your goals as a health care professional, we have highlighted 10 top health care OKR examples that would kindle your ideas to frame OKRs for your teams and departments.

Example 1

To increase the operational efficiency of hospitals, make sure that you highlight key results that would improve the operational efficiency of hospitals.

Objective : Increase hospital operational efficiency

KR 1 : Increase Average bed occupancy rate from 70% to 80%.

KR 2 : Maintain Gross profit margin at 35%

KR 3 : Increase Medical equipment utilization rate from 80% to 90%

Example 2

To improve in-patient outcome, focus on key results that would improve successful outcomes, reduce hospital readmission rate and reduce medical errors.

Objective : Improve in patients outcomes

KR 1 : Increase Functional Independence Measure (FIM) score from 110 to 126.

KR 2 : Reduce Hospital readmission rate of patients discharged within 6 months from 5% to 2%

KR 3 : Reduce medical error Incidents from 5 per 1000 patients to 2 per 1000 patients.

Example 3

Focus on objectives that would help you build highly efficient centers/departments in your organization. Frame supportive key results that measure the progress towards your objective.

Objective : Deliver high quality cancer care

KR 1 : Launch Oncology diagnostics services by Q2

KR 2 : Increase the average daily treatments per full-time equivalent (FTE) Radiation Oncology (RadOnc) physician from 4.0 to 6.0

KR 3 : Reduce hematologic malignancies depending on cancer type (Magnitude of Clinical Benefit Scale) from 20% to 5%

Example 4

Introducing OKRs to track the efficiency of physicians with some of the top cutting-edge technologies can boost and multiply the outcome of treatments and cure for the patients

Objective : Boost efficiency with cutting-edge technology for Physicians

KR 1 : Increase the average physician wRVC (work Relative Value Unit) score across Category III CPT (Current Procedural Terminology) codes from 1200 to 1500.

KR 2 : Increase the number of physicians in cyberknife radiation therapy from 5 to 10

KR 3 : Increase positive patient outcomes in surgery with innovative equipment from 90 to 95%.

Example 5

Framing situational OKRs to adopt the new normal can help you to establish facilities and resources for patients on time without any chaos or mishaps.

Objective : Improve the efficiency of COVID-19 care program

KR 1 : Decrease the lead time to test and report RT-PCR samples from 12 hours to 6 hours

KR 2 : Maintain the utilization rate of COVID care equipment {e.g. ventilators, continuous positive airway pressure (CPAP) machines, oxygen tanks, nasal cannula} at 80%

KR 3 : Increase Covid recovery rate from 80% to 100%.

Example 6

You can focus on maximizing the performance of the pathology department to deliver a quality diagnosis and reporting on time for a speedy recovery

Objective : Maximize the performance of the pathology department

KR 1 : Decrease the blood culture contamination rates from 0.5% to 0.1%

KR 2 : Improve the mean Turn Around Time (TAT) per specimen reporting by 10% (increase KPI)

KR 3 : Increase MIPS (Merit based Incentive Payment System) Quality Measure Score from 75 to 90

Example 7

As a healthcare organization, it is vital to keep the patients satisfied, for which you can focus on building key results that would reduce patient’s wait time and increase follow-up calls with personal care and user friendly hospital guides to help themselves.

Objective : Improve patient satisfaction

KR 1 : Reduce ER waiting time from 30 min to 10 min.

KR 2 : Improve patient NPS Score by from 7 to 8.

KR 3 : Reduce time to discharge from 6hrs to 4 hrs.

Example 8

If you want to improve the service excellence of your hospital, you need to come up with OKRs that would offer top-notch solutions to your idea of providing more care and love for patients.

Objective : Improve Service excellence of the hospitals

KR 1 : Maintain HCAHPS (Hospital Consumer Assessment of Health care Providers and Systems) survey rating of 5 stars

KR 2 : Establish 2000 patient testimonials per month.

KR 3 : Raise $1M charitable fund for underprivileged patients

Example 9

Optimize your healthcare revenue cycle by tagging metrics like CCR, A/R and NCR to measure results with OKRs

Objective : Optimize the healthcare revenue cycle management

KR 1 : Increase Clean Claims Ratio (CCR) from 55% to 70%

KR 2 : Reduce the net days in A/R from 80 days to 50 days

KR 3 : Increase the Net Collection Rate (NCR) from 92% to 96%

Example 10

Thinking beyond the pill can help your organization reach greater heights, coming up with some value added services that you can provide as an organization can make patients feel more comfortable and content.

Objective : Provide Value added services “Beyond the pill”

KR 1 : Launch mobile diabetes monitoring systems for continuous care of chronic patients

KR 2 : Maintain Rothman index between 85 to 100

KR 3 : Increase post discharge virtual follow-up through integrated EHR from 22% to 27%

When the objective is managed through OKRs, the quantifiable metrics that are used to measure the key results, can help your healthcare organization coordinate clinical activities and align goals and targets at each level with manageable visibility options to focus on the objective that really matters. By building such a framework you can measure not only the success of individual contributors, but also the entire team and departments that are aligned hierarchically to the organization’s vision and mission

With OKRs you can establish a structured path that would call out the next generation of ideas and discoveries. No matter how many complex inventions and cutting-edge technologies find their way into the future generation, OKRs can motivate you to think about a bigger picture of strategy and goal-stretching

If you are looking for the best goal-setting partner that helps you to measure and articulate your results for your health care organization, try Profit.co software, this could be your next step to stride positively toward your goals.