DYNAMIC BENCHMARK MEASURES AND DIMENSIONS
Futrix Health has two separate Benchmark capabilities available for comparative analysis: Benchmark Measures & Dimension Benchmarks.
Benchmark Measures are a type of Measure that can include values outside of the Dimension values being analyzed, by including values that span another Dimension.
Benchmark Measures are designed to answer business questions such as: "How does the price per service of each provider compare to the average price per service across all counties in which the provider operates?"
The system takes into account that each provider may operate in different counties, so for each provider the "price per service across all counties where the provider operates" will be calculated separately by first determining which counties in which each provider operates. The power of Benchmark Measures is that they are designed to make these calculations on the fly.
Examples of Benchmark Measures:
- Evaluate the price per service of each provider compared to the average price per service across all counties where the provider operates. For different providers, create Benchmarking Measures that span the "County" Dimension; this provides the Measure value for the total of all counties where that provider has a presence.
- Evaluate the chronic care compliance of patients compared across all provider organizations. Useful for measure of Accountable Care Organizations and Patient Center Medical Home report cards.
- By using Calculated Measures to compare the standard Measures with the Benchmark Measures, it is possible to create ratios between the two. Then, by sorting these derived Calculated Measures, it is possible to get the highest and lowest ratios.
Benchmark Dimensions are Dimensions are a type of Dimension that can compare the Measures for a single Dimension value against an aggregation of the Measures for all the other Dimension values.
Dimension Benchmarks are designed to answer business questions such as: "How much more or less expensive is the cost of service for one provider group when compared to a benchmark of all other provider groups?"
These Dimension Benchmarks can be particularly powerful when comparing calculated values, such as the Per Member, Per Month for one provider group against the PMPM calculation for all the other providers, or calculating the average number of sales per month for one office against the averages of all the other offices, etc.
Examples of Dimension Benchmark:
- Select a single Provider and isolate it, creating a benchmark set of all other providers. This allows for direct comparisons between one Provider and all others in similar peer groups to see what areas they are performing well in and where they are not. The user can define the peer group rules and apply them to the benchmark sample; thereby, comparing providers with similar patients.
- Calculated values such as PMPM for one provider group can be compared to the PMPM calculations for all other providers to determine what is the cost of service for one provider group when compared to a benchmark of all other provider groups.