Health systems and provider organizations are facing enormous challenges. In a recent poll, providers ranked five of their most pressing issues, which were staffing (58%), expenses (20%), revenue (17%), technology (2%), and other (2%).1 The poll also found that costs have been outpacing revenue for nine in ten respondents. In addition to rising costs, much of the increase stems from recruiting, incentives, and enhanced benefits.
Financial pressures already present before the pandemic have become even more challenging, which is why providers need to be monitoring metrics most closely tied to revenue performance. The following are seven key performance indicators (KPIs) providers should consider.