MHA 605 Week 6 – Journal

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MHA 605 Week 6 – Journal

MHA 605 Week 6 – Journal
MHA 605 Week 6 – Journal : Certified Specialist Business Intelligence (CSBI) Reflection Part 6 of 6

This week you, will focus on Domain VI of the Certified Specialist Business Intelligence (CSBI) Study Materials:

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  • A new window or tab will open. Find the title of the course “Certified Specialist Business Intelligence” and click Launch to begin. Continue where you left off last time, and complete Domain VI.
  • If you have any questions with this process, contact HFMA’s Member Services at
 CSBI Domain VI: Relationship, change management and consulting skills
  • Work effectively at all levels in identifying and defining items / issues of importance, (& what data is needed to address such),
  • Regardless of leading individuals or groups, or presentation of findings to non-analytical and non-finance colleagues – capability to translate business needs into meaningful analytics while ‘Speaking in English’ is paramount. However – more than numbers this work is about developing relationships and will include advising, negotiating and managing expectations
  • Advisory work in this context takes place on individual and team leadership levels requiring similar yet differing specific sets of skills and competencies the competencies in Leading change – engaging leadership approaches & methods – individual and group change management techniques
  • Prove Value to ALL stakeholders (ROI to finance, quality to Clinical, process improvement to Ops, etc.)
  • Define true measures of success before starting.
  • Exercise Professional Leadership

During this course, you will spend two to four hours per week preparing for the CSBI exam, which will be taken this week. As you prepare, you will reflect on what you’ve learned in the form of a journal.

A journal entry containing your reflections on the CSBI content should be submitted for each domain completed. This week, your journal should contain one page on Domain VI, and should include the following information:

  • Title Page according to APA formatting.
  • Describe what you learned from the Domain.
  • Describe how you may apply the information in your current or future career.

Carefully review the for the criteria that will be used to evaluate your assignment.

MHA605 BUSINESS INTELLIGENCE

Welcome to Week Six

Continuing with the experience of working with the data and provide useful and meaningful information, students will be able to identify the measures of success.  What is success?  Who determines what is success in healthcare?  There are a variety of measures in healthcare to determine success.  One of these is performance.  The Department of Health and Human Services (n.d.) has a that presents performance management and measurement in an easy-to-follow method.  The module also goes through quality improvement goals and provides ways for the healthcare organizations to evaluate the success of these goals and begins with the reminder that healthcare organizations have a common purpose to provide high quality care to patients (Department of Health and Human Services, n.d.).  Success can be defined in a couple of ways (“Success | Definition of Success by Merriam-Webster,” 2015):

  • Getting or achieving wealth, fame, or respect
  • Achieving a desired result or goal.

Healthcare organizations hope to have pieces of both definitions:  wealth could be translated into profitability, fame translated to recognition of their successes, respect translated into becoming an organization that others look to for benchmarking and best practices, none of which could be possible without achieving the goals and results they have determined.  Benchmarking and best practices are similar to what we do in our personal lives.  For example, if a swimmer has a goal to become one of the fastest swimmers, he/she would do some research on some of the top swimmers from local, regional, national, or Olympian swimmers to simulate what these swimmers do from a training and performance standpoint (i.e., how often they practice, how long they practice, how they practice).  What these successful swimmers do takes dedication and continuous monitoring of their results.  Same applies to healthcare organizations on their continuous quality efforts.  While trying to achieve quality results, healthcare organizations (and swimmers) must look at the costs involved.  Healthcare organizations continue to be scrutinized about the cost of healthcare, particularly when looking at the overall value of the healthcare experience.

One of the measures used when deciding to purchase an analytics system, or other capital purchases, is the return on investment (ROI).  The return on investment is basically looking at how much money is being invested, and how much money is coming in as a result of the investment.  There are various resources available for help in determining how to calculate the ROI, some scholarly and some not scholarly.  For example, Khan Academy has extensive resources on a variety of accounting and finance-related tools, including ROI—watch the video on to see more details (Khan Academy, 2016).  Investopedia also has a very good explanation of ROI (remember that “pedias” are not considered scholarly, but can provide other resources to begin the research efforts) as follows (Investopedia, LLC, 2016):

  • What:  determines the efficiency of investments
  • How:  breaking down the ROI calculation
  • When:  limitations of ROI

Oftentimes the value of an investment or process change must be identified and presented to all of the stakeholders in a healthcare organization before it can be approved, or denied.  With any type of information technology (IT), it can be challenging to determine ROI since the measurements are more operational and intangible.  Students are encouraged to continuing researching ROI and how this is determined for analytics.

References

Department of Health and Human Services. (n.d.). Retrieved from http://www.hrsa.gov/quality/toolbox/methodology/performancemanagement/index.html

Investopedia, LLC. (2016). Retrieved from http://www.investopedia.com/terms/r/returnoninvestment.asp

Khan Academy. (2016). Retrieved from https://www.khanacademy.org/economics-finance-domain/core-finance/investment-vehicles-tutorial/investment-consumption/v/return-on-capital

Success | Definition of Success by Merriam-Webster. (2015).. Retrieved from http://www.merriam-webster.com/dictionary/success

Overview

Activity Due Date Format Grading Percent
Communicating Results to Your Staff Day 3
(1st Post)
Discussion 4
Certified Specialist Intelligence (CSBI) Reflection Part 6 of 6 Day 7 Journal 7
Certified Specialist Business Intelligence (CSBI) Review and Reflection Final Day 7 Final Project 8

Learning Outcomes

This week students will:

  1. Identify work effectiveness and its applicability to analytics.
  2. Communicating the results of analytics to various stakeholders.
  3. Demonstrate value (e.g., ROI) of analytics to all stakeholders.
  4. Define measures of success.
  5. Review the CSBI exam and take the certification examination.

Introduction

This week students will learn how to determine if the analytics are effective and present their findings to various stakeholders. Stakeholders will want to know if the investment in the technology needed for analytics has paid off for their organization. To determine the efficiency and success, students will learn the identifying metrics.

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