To maintain its operating margins at or near breakeven, Norwood Hospital, a US hospital, established three cost performance management principles. Baseline benchmarks were established and refreshed as new programmes and technology were implemented. System functions such as finance, human resources, and IT were consolidated and centrally located. External productivity benchmarks measured and monitored labour resources and a span-of-control project identified the need for staff reductions if overa...
BPIR Categories9.5.1 Develop performance management approach
14.2.4 Conduct best practice/ process benchmarking
11.1.5 Manage financial risk