• 
  • Total Value, Total Return
• 
  • Barriers to Value
  • Understanding the Total Cost of Healthcare
  • The Economic Value of Health Management Programs
• 
  • Creating Value Through FIT Design
  • The Seven Steps of BeneFIT Design
  • The FIT Design Assessment
  • The WorkScripts Program
• 
  • The Asheville Project, Asthma
  • The Asheville Project, Diabetes
  • Pitney Bowes
  • The Diabetes Ten City Challenge
• 
  • News Library
  • Podcasts

The Value of Benchmarking

Benchmarking is:

• The process of improving performance by continuously identifying, understanding, and adapting outstanding practices and processes found inside and outside the organization.¹
• A catalyst for implementing innovative practices that improve the total value of health management initiatives within the organization.
• More than setting standards and making comparisons. It helps to align employee health and productivity with the business goals of the organization.

Important Reasons to Benchmark

1. Accelerate and manage change.
2. Overcome complacency and create a sense of time urgency.
3. Establish cross-functional goals (e.g., benefits, health promotion, disability, employee assistance program, etc.).
4. Look "outside of the box" by studying best practice organizations.
5. Make informed decisions.

At a minimum, your efforts should establish 3 benchmarking categories:

1. Internal: Set standards (goal and objectives). Manage variation. Track progress.
2. External: Evaluate employers within your industry. Establish a context for comparison.
3. Best practice: Identify the “best in class.” Establish goals for internal improvement.

Learn more about the benchmarking information and tools you can use in your organization:

• Creating Value Through FIT Design™: Learn about the FIT Design model and critical data in value-based health benefit design.
• The Seven Steps of BeneFIT Design™: Learn the seven steps for planning and implementing value-based health management initiatives.
• Download the FIT Design Assessment to see how well your health management efforts are aligned with value-based principles.
• The WorkScripts™ Program: Compare your medication adherence practices against common red flags. Evaluate copay/coinsurance scenarios for diabetes management.

Reference:

1. APQC. White paper for senior management based on the internationally acclaimed study organizing and managing benchmarking. Benchmarking: leveraging best-practice strategies. 1994-2006. www.apqc.org/portal/apqc/ksn?paf_gear_id=contentgearhome
   &paf_dm=full&pageselect=include&docid=112421. Accessed 8/21/07.

What Is Value-Based Health Management? | Investing in Value | The Value of Benchmarking

The Value of Best Practices | Value-Based Health Management Resources