Benchmarking for 2014

Feb. 21, 2014
Here is the first in a series of insights from Michele DeMeo, former CS Director, HPN Editorial Advisory board member, FDA special employee, product developer and independent consultant. Michele can be contacted via LinkedIn.
There are so many misconceptions of what “benchmarking” is from a task perspective. The muddiness of the topic, by nature, does not make it any easier to decipher either. A few key points can help clear the confusion and set you on your way to benchmarking success.

There are so many variables and factors that interplay with results and/or interpretation of results from tasks associated with data collection – when selecting indicators to “benchmark” or compare against other entities, functions, people/roles and outcomes, care is needed to help ensure that you are in fact comparing the right type of data element to another. Otherwise, the validity of the information will be lost, and you will have also lost any ground in change management with other key stakeholders if your information is not clearly delineated or analyzed.
To obtain the best information consider the following as you review and use the outcomes gathered in the process of conducting “benchmarking” activities:
·        List all known variable before beginning a program. Also, try to predict some currently “unknown” factors.
·        Research entities that have as many similar factors as possible. However, you must remember that no two organizations will be identical; it is not reasonable to assume you will find one. Benchmarking is about reviewing and comparing a set of agreed to indicators that help to comprise the whole composite of general work or functions (not all).
·        Normalize the data elements, in the same way that your peer groups have. This will help to ensure the integrity of the information is as pure as possible.
·        Challenge outcomes periodically as indicators may need to change as circumstances change. This is no different than any other workplace process or function.
Now, these are just a few of the elements needed to get you started correctly as you embark on this important task of managing your business, clinically, technically or administratively. To ensure you are always ahead, keeping tabs on what others report – and how it is reported – will remain an imperative.
Once you have a system in place, your collection process and analysis criteria and subsequent information retrieval will serve you well when you keep in mind that the info you get is only as good as the way in which it is used.