Suburban Health Organization is proud to announce the purchase of the Premier Operations Benchmarking Platform. SHO’s Hospitals have been looking to implement a business intelligence platform collectively for a number of purposes:
- to provide peer-to-peer benchmarking nationally and within Indiana
- to improve efficiency and financial performance benchmarking
- to provide a unique support model for target setting and performance accountability
- to create a sustainable, structured workforce management program infrastructure for long term success
The SHO CFO Council considered three different platforms during discussions and chose the Premier platform. Eight hospitals are part of this agreement, and by entering into this agreement collectively, each was able to save over 30% on the annual fee. The eight participating hospitals are Goshen Health, Hendricks Regional Health, Henry Community Health, Major Health Partners, Margaret Mary Health, Marion General Hospital, Riverview Health, and Witham Health Services. The hospitals are implementing at various times in the next year to accommodate current workloads. The typical implementation timeline is 90-120 days. Additional SHO hospitals are eligible to participate during the contract term if desired.
Premier’s Labor Benchmarking provides quarterly benchmarking to facilitate the identification of operational improvements. The extensive database is nationwide, while incorporating all organization types. Premier offers not only superior benchmarking but also expertise beyond implementation of a tool. It includes the following:
- Large, open database with >675 subscribing healthcare organizations reporting
- Labor benchmarks plus other operating expense benchmarks such as supply expense
- Data reflecting’s actual cost center structure
- Presentation-ready reporting
- Streamlined data submission