Waltham, MA, March 20, 2012 - Objective Health, a specialized group within McKinsey & Company that serves healthcare providers, today announced the release of a powerful new performance management system. The suite provides a single, comprehensive view of a hospital's performance, enabling C-suite executives to track and compare key metrics against their plan and identify opportunities for change and improvement.
As a fully customizable performance management system, Objective ScorecardTM provides easy and ongoing access to the performance metrics that matter the most to senior management.Objective Scorecard empowers senior hospital staff to respond faster and make better decisions that drive sustainable results.
"This hospital performance tool suite really is a game changer for C-suite executives," said Russ Richmond, MD, CEO of Objective Health. "Senior hospital executives frequently wonder if they have the right information and data to make fundamental decisions about their organizations. Objective Scorecard arms them with a single source of truth about what is really happening in their hospitals. It enables decision-makers to zero in on priority issues, and ask the right questions that are crucial to effective and timely problem solving."
Objective Scorecard automatically collects data across all functional areas of the hospital. It then uses advanced analytics to drill down and identify key drivers of performance in a simple, intuitive visual interface. Included in the solution are a performance dashboard, self-serve analytical tools, access to external benchmarks, and expert consulting support.
Objective Scorecard provides C-suite executives an intuitive analysis of metrics from the following hospital performance categories:
- Strategy and Finance
- Purchasing & Clinical Utilization
- Clinical Quality & Patient Experience
"Our Objective Scorecard performance management system allows C-suite executives to trust the data they are seeing, while improving communication and collaboration among key decision makers," added Dr. Richmond. "All of this saves time and effort by eliminating the need to reconcile multiple hospital reports, or waiting for an analyst to gather data and crunch the numbers into a report."
About Objective Health
Objective Health, a McKinsey Solution for Healthcare Providers, is a specialized group within McKinsey & Company that uses advisory expertise, advanced analytics, and tools to empower hospitals to improve, survive, and thrive. Founded in early 2009 as McKinsey Hospital Institute, Objective Health is part of the global McKinsey Healthcare Practice, which serves hundreds of public- and private-sector organizations worldwide. With offices in 55 countries throughout the world, McKinsey's global healthcare practice comprises over 400 full-time healthcare consultants. For more information, visit www.ObjectiveHealth.com.
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Patrick Di Chiro, for Objective Health