Domain VI of the Certified Specialist Business Intelligence (CSBI)
MHA 605 Week 6 – Journal : Certified Specialist Business Intelligence (CSBI) Reflection Part 6 of 6
This week you, will focus on Domain VI of the Certified Specialist Business Intelligence (CSBI) Study Materials:
Go to www.hfma.org (Links to an external site.)Links to an external site.
Sign in with your username and password
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A new window or tab will open. Find the title of the course “Certified Specialist Business Intelligence” and click Launch to begin. Continue where you left off last time, and complete Domain VI.
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CSBI Domain VI: Relationship, change management and consulting skills
Work effectively at all levels in identifying and defining items / issues of importance, (& what data is needed to address such),
Regardless of leading individuals or groups, or presentation of findings to non-analytical and non-finance colleagues – capability to translate business needs into meaningful analytics while ‘Speaking in English’ is paramount. However – more than numbers this work is about developing relationships and will include advising, negotiating and managing expectations
Advisory work in this context takes place on individual and team leadership levels requiring similar yet differing specific sets of skills and competencies the competencies in Leading change – engaging leadership approaches & methods – individual and group change management techniques
Prove Value to ALL stakeholders (ROI to finance, quality to Clinical, process improvement to Ops, etc.)
Define true measures of success before starting.
Exercise Professional Leadership
During this course, you will spend two to four hours per week preparing for the CSBI exam, which will be taken this week. As you prepare, you will reflect on what you’ve learned in the form of a journal.
A journal entry containing your reflections on the CSBI content should be submitted for each domain completed. This week, your journal should contain one page on Domain VI, and should include the following information:
Title Page according to APA formatting.
Describe what you learned from the Domain.
Describe how you may apply the information in your current or future career.
Carefully review the Grading Rubric (Links to an external site.)Links to an external site. for the criteria that will be used to evaluate your assignment.
MHA605 BUSINESS INTELLIGENCE
Welcome to Week Six
Continuing with the experience of working with the data and provide useful and meaningful information, students will be able to identify the measures of success. What is success? Who determines what is success in healthcare? There are a variety of measures in healthcare to determine success. One of these is performance. The Department of Health and Human Services (n.d.) has a training module (Links to an external site.)Links to an external site. that presents performance management and measurement in an easy-to-follow method. The module also goes through quality improvement goals and provides ways for the healthcare organizations to evaluate the success of these goals and begins with the reminder that healthcare organizations have a common purpose to provide high quality care to patients (Department of Health and Human Services, n.d.). Success can be defined in a couple of ways (“Success | Definition of Success by Merriam-Webster,” 2015):
Getting or achieving wealth, fame, or respect
Achieving a desired result or goal.
Healthcare organizations hope to have pieces of both definitions: wealth could be translated into profitability, fame translated to recognition of their successes, respect translated into becoming an organization that others look to for benchmarking and best practices, none of which could be possible without achieving the goals and results they have determined. Benchmarking and best practices are similar to what we do in our personal lives. For example, if a swimmer has a goal to become one of the fastest swimmers, he/she would do some research on some of the top swimmers from local, regional, national, or Olympian swimmers to simulate what these swimmers do from a training and performance standpoint (i.e., how often they practice, how long they practice, how they practice). What these successful swimmers do takes dedication and continuous monitoring of their results. Same applies to healthcare organizations on their continuous quality efforts. While trying to achieve quality results, healthcare organizations (and swimmers) must look at the costs involved. Healthcare organizations continue to be scrutinized about the cost of healthcare, particularly when looking at the overall value of the healthcare experience.
One of the measures used when deciding to purchase an analytics system, or other capital purchases, is the return on investment (ROI). The return on investment is basically looking at how much money is being invested, and how much money is coming in as a result of the investment. There are various resources available for help in determining how to calculate the ROI, some scholarly and some not scholarly. For example, Khan Academy has extensive resources on a variety of accounting and finance-related tools, including ROI—watch the video on Return on Capital (Links to an external site.)Links to an external site. to see more details (Khan Academy, 2016). Investopedia also has a very good explanation of ROI (remember that “pedias” are not considered scholarly, but can provide other resources to begin the research efforts) as follows (Investopedia, LLC, 2016):
What: determines the efficiency of investments
How: breaking down the ROI calculation
When: limitations of ROI
Oftentimes the value of an investment or process change must be identified and presented to all of the stakeholders in a healthcare organization before it can be approved, or denied. With any type of information technology (IT), it can be challenging to determine ROI since the measurements are more operational and intangible. Students are encouraged to continuing researching ROI and how this is determined for analytics.
Department of Health and Human Services. (n.d.). Performance Management & Measurement. (Links to an external site.)Links to an external site. Retrieved from http://www.hrsa.gov/quality/toolbox/methodology/performancemanagement/index.html
Investopedia, LLC. (2016). Return On Investment (ROI) Definition | Investopedia. (Links to an external site.)Links to an external site. Retrieved from http://www.investopedia.com/terms/r/returnoninvestment.asp
Khan Academy. (2016). Return on capital | Investment and consumption |Khan Academy. (Links to an external site.)Links to an external site.Retrieved from https://www.khanacademy.org/economics-finance-domain/core-finance/investment-vehicles-tutorial/investment-consumption/v/return-on-capital
Success | Definition of Success by Merriam-Webster. (2015). In Dictionary and Thesaurus | Merriam-Webster (Links to an external site.)Links to an external site.. Retrieved from http://www.merriam-webster.com/dictionary/success
Communicating Results to Your Staff
Certified Specialist Intelligence (CSBI) Reflection Part 6 of 6
Certified Specialist Business Intelligence (CSBI) Review and Reflection Final
This week students will:
Identify work effectiveness and its applicability to analytics.
Communicating the results of analytics to various stakeholders.
Demonstrate value (e.g., ROI) of analytics to all stakeholders.
Define measures of success.
Review the CSBI exam and take the certification examination.
This week students will learn how to determine if the analytics are effective and present their findings to various stakeholders. Stakeholders will want to know if the investment in the technology needed for analytics has paid off for their organization. To determine the efficiency and success, students will learn the identifying metrics.