NEW Custom Benchmark Report for Subscribing Members: Contracted Services: Lab and Medical Imaging (MI) Reports An Overview on How to Interpret Results
The Contracted Services: Lab and Medical Imaging (MI) report provides an overview of the proportion and unit cost of contracted services compared to peers. This allows hospitals to assess which peers are using contracted services and to what extent, and the range of costs at the functional centre level.
The report is organized by Lab and MI departments and includes the following reports:
- Percent Contracted Services
- Cost per Contracted Unit
- Net Cost vs. Percent Contracted Services Graph
Percent Contracted Services
Hospitals can use this indicator to evaluate their trend of contracted services relative to peers. Differences amongst peers may be an opportunity to understand the various outsourcing models used by peers and whether they provide improved efficiency and quality of services.
Cost per Contracted Unit
Hospitals can use this indicator to compare their own unit cost for contracted services relative to peers. Differences amongst peers may be due to a number of factors including the volume of outsourced services, participation in a shared service model, or proximity to contracted service providers. Hospitals can use this information as a starting point for investigating models that may provide greater efficiency or quality of services.
Net Cost vs. Percent Contracted Services Graph
This report provides the trend of a hospital’s percent of contracted services relative to the overall net costs of the functional centre. Hospitals can use this trend report to understand if a functional centre’s overall net costs are increasing or decreasing relative to changes in contracted services.
The Contracted Services: Lab and MI Report is available to subscribing members under the Custom Benchmark Report Series section of the BIG Benchmarking tool. These reports contain information for all acute and non-acute hospitals and are available to download.
