Hospitals that improve patient experience and employee engagement may also see financial benefits, two Press Ganey leaders wrote in an article for Harvard Business Review.
The article's authors are:
- Nell Buhlman, chief strategy officer of Press Ganey
- Thomas Lee, MD, CMO of Press Ganey
In the article, Ms. Buhlman and Dr. Lee discussed new Press Ganey research, which shows a link between improved performance on two HCAHPS measures and better financial performance for hospitals.
Hospitals that achieved at least a 1 percent increase in HCAHPS measures for both nurse communication and employee engagement saw their overall HCAHPS rating increase by an average of six points.
Every one-point increase in a hospital's overall rating was also linked to a 0.2 percent increase in net operating profit margin. In other words, a five-point increase in overall HCAHPS score correlates with a 1 percent jump in profit margin.
When critical access hospitals were excluded from the analysis, Press Ganey found every one-point jump in a hospital's overall rating coincided with a 0.4 percent increase in profit margin.
To view the full article, click here.