Transcript Generated by AI 00:00 Mark Parkinson back with Park Place, 00:02 and I'm here today with another in our leadership 00:05 series and excited to talk today about metric-based goals. 00:09 So, 00:09 leading up to 00:11 this segment, 00:11 we've been talking a lot about the importance of being mission-driven and you know, 00:15 my thesis that 00:17 to be truly successful as a person, 00:19 as an, 00:21 as an organization, 00:21 to reach your highest level of success, 00:23 you need to be driven by mission. 00:25 But there's another component. 00:27 Being mission driven alone is not enough. 00:30 The second leg, 00:31 and there's only two, 00:32 there's not going to be a long list here, 00:33 the second leg is that we have to be metric based. 00:36 And what do I mean by that? 00:38 I mean by that we need to set goals 00:40 with specific outcomes and strive towards those goals. 00:44 Why do I think we need both? 00:47 There's a lot of organizations out there that are mission driven both in our sector 00:51 and across the entire economy, 00:53 and what I've noticed over the years is that, 00:56 you know, 00:56 it's great when people are mission driven, 00:59 but that alone is not enough. 01:01 If you don't take that mission and that passion that you have 01:04 for that mission and apply it to specific objectives and goals, 01:08 you really don't have very much. 01:09 What I've observed is that very often in the not for profit market, 01:13 whether it's a church 01:14 or whether it's a not for profit charity 01:17 or you name it, 01:18 very often these groups are mission driven, 01:21 but the problem is they don't set metric-based goals, 01:23 so they don't really know how to get things done. 01:26 Conversely, 01:27 in the for-profit market, 01:28 you know, 01:28 companies that are out there trying to make a living, 01:31 they're usually really, 01:32 really good at the metrics and at setting goals, 01:34 but oftentimes they aren't mission driven, 01:36 so they're just making money with no real purpose. 01:39 I think the most incredible thing is that when 01:42 you can combine the power of being mission driven 01:45 with the power of being metric driven, 01:48 amazing things can happen. 01:49 So what I'm encouraging you to do is, 01:51 yes, 01:52 be mission driven, 01:53 but also be driven by metrics. 01:56 So how do you do that? 01:57 Well, 01:57 the first thing that you do is that you've got to set some goals. 02:00 You've got to set some metrics 02:02 that make sense. 02:04 In our space there are 1000 different goals that we could set. 02:08 I mean we have so many different quality measures out there, 02:11 so many different clinical things that we're measuring. 02:14 You know, 02:14 we could just get overwhelmed with goals. 02:16 So let me simplify it a little bit. 02:18 I think that the goals for our sector should be broken down into 3 areas, 02:23 and that you should look at these 3 areas and out of them then set 02:28 6 or 7 or maybe as many as 10 goals 02:31 for you, 02:32 for your team, 02:33 and for your buildings. 02:34 I would divide the goals between clinical goals, 02:38 financial goals, 02:39 and workforce goals, 02:41 because obviously if we can master clinical outcomes, 02:44 financial outcomes, 02:46 and workforce outcomes, 02:48 we're in really, 02:49 really good shape. 02:50 So by clinical goals, 02:52 I'm talking about. 02:53 Like overall clinical goals, 02:55 like for example, 02:56 the quality measures, 02:57 setting a goal that we reach a certain standard 03:01 on the five star quality measures, 03:03 but it can also be very specific. 03:05 If you're having challenges with falls in a building, 03:07 you could set a goal specifically relating to falls. 03:11 If you're having a problem relating to rehospitalizations, 03:13 you could have a specific rehospitalization goal. 03:15 Whatever it is, 03:16 I think it's very, 03:17 very important 03:19 that you have some clinical goals. 03:21 Whether it's 5 star, 03:22 whether it's the quality measures, 03:24 or whether it's survey outcomes or specific measures, 03:26 you got to have clinical goals. 03:28 Then you got to have financial goals. 03:30 You can't just work hard to, 03:32 you know, 03:32 provide great care. 03:33 You've got to make money to keep the whole thing going, 03:35 and the obvious financial goals relate to budget, 03:38 relate to earnings or EBITDA of the buildings, 03:42 or even like a census type goal is a financial goal. 03:46 And then the third thing is that we need workforce goals, 03:49 you know, 03:49 we can't make this go if we don't have workers, 03:51 and as we've talked about endlessly on this website, 03:54 getting workers will be really, 03:55 really hard. 03:56 I think that almost every organization should have a goal that's related 04:00 to employee engagement and satisfaction and achieving a certain score 04:04 for the employees. 04:06 Another really good workforce goal relates to turnover. 04:09 Another good one relates to agency. 04:11 Whatever it is, 04:12 I think again you need to have 5 to 6 to 10 goals that are clinical, 04:17 financial, 04:18 and workforce. 04:18 That's step one. 04:20 Step two is they have to be good goals. 04:22 And you might say, 04:23 what do you mean by a good goal? 04:25 Well, 04:25 you can set a goal, 04:26 but it cannot be a great goal. 04:28 And, 04:28 and I would, 04:29 you know, 04:29 there's several components to a great goal. 04:32 One is that they, 04:33 they, 04:33 they can be objectively verified as either happening or not happening. 04:37 And what do I mean by that? 04:39 It's not a very good goal to say 04:41 our goal is to increase census. 04:43 Because if there's not a number attached to that, 04:45 there will never be agreement as to whether or not you've achieved that goal or not. 04:48 A much better goal 04:50 is to say 04:51 we will increase our census from 82% 04:54 to 84% by the end of the first quarter to 86% by the 04:57 end of the second quarter to 88% by the end of the year, 05:01 some very specific number 05:03 that's connected to a very specific end time, 05:06 so you know whether or not you have achieved the goal or not. 05:09 Once you have a metric-based goal, 05:11 you then need to make sure that the goal is achievable. 05:14 If, 05:14 for example, 05:15 if your census is at 62%, 05:17 it's just not realistic to set a goal of 95% census by the end of the year. 05:21 You've got to set a goal that can actually be achieved. 05:25 And then the final 05:26 thing that's important about a goal is that your team 05:29 must have the tools necessary to achieve the goal. 05:33 If you have a huge clinical goal to increase your quality measures from, 05:36 say, 05:37 3.0 on 5 star to 4.5 on 5 star, 05:41 you're going to need to have a lot of tools there. 05:42 You need to have the staffing, 05:45 the software support, 05:46 the logistics, 05:47 and all of that to make it happen. 05:49 So I always ask myself, 05:50 you know, 05:51 is this a good goal? 05:52 Is it objectively based? 05:53 Is it realistic? 05:55 Do we have the ability 05:57 to reach it? 05:58 And then the third thing that you need to decide 06:00 is how are we're going to balance these things out. 06:03 You got to have goals. 06:05 You got to make sure you have them in balance. 06:07 If the goals are just clinical, 06:10 you're going to get great clinical results, 06:12 but you're going to have a really hard time keeping the doors open. 06:14 You're going to have a hard time keeping your business open. 06:16 If your goals are only financial, 06:19 you'll make money, 06:20 but you may not have great clinical outcomes. 06:22 The important thing is to have a balance. 06:25 Make sure you have 06:26 an equivalent number of clinical and financial goals. 06:29 Make sure there's a check and balance 06:31 so that you're not just getting great clinical results, 06:33 you're also getting great financial results 06:35 and vice versa. 06:37 One of the organizations that's been really effective 06:39 at doing that is the Better Organization, 06:42 where they have a list of 10 world-class goals 06:45 that they've told us that they're willing to share. 06:47 There's a video of Glenn Van Ecker that talks about the World Class goals, 06:51 and these are really great balance of clinical, 06:54 financial, 06:55 and workforce goals. 06:56 And make sure that you do that. 06:58 If you do this, 06:59 you're going to be very well on your way to be not just mission driven, 07:02 but also being driven by metrics, 07:04 and they're just incredible things that can occur once that happens. 07:08 In the next segment, 07:09 we're going to be talking about what you do with these goals once you set them. 07:12 There's some really exciting possibilities and look forward to you joining me then 07:17 on the next episode of Park Place. 07:18 Thank you for your support of this community. 07:22 Oh my God, 07:23 if you're still watching this, 07:24 this means that you watched the end of a very long video on Park Place. 07:29 I'm not sure what that means. 07:30 It says something about you or maybe there was just nothing else to watch today or 07:35 maybe your priorities are a little bit off, 07:36 but whatever it is, 07:37 we really appreciate your support and 07:40 if you want to continue to follow us, 07:41 follow us on LinkedIn and our various social media sites. 07:45 And, 07:46 you know, 07:46 try to find something else to do.
