3 reasons you should be benchmarking your aged care facility
March 24, 2014 | Aged Care Management
One of the best ways to ensure your aged care facility is performing at the optimal level is benchmarking.
What is benchmarking?
In a nutshell, benchmarking involves comparing every aspect of your aged care facility – that is, all of its inputs, processes and outputs – with other, similar facilities and the industry as a whole.
This will provide you with useful information about the strengths and weaknesses in your business.
What are the benefits?
1) The benchmarking process will underline what you are doing better than your competitors and should therefore be emphasising to prospective residents. This should boost your bottom line, as well as encourage your staff to keep providing high-quality care.
2) On the flip side, benchmarking will also help you identify which areas of your aged care facility could use a little work. With this information, you can take a more targeted approach to making improvements in your business.
3) Finally, benchmarking is a great way to keep your finger on the pulse of what's happening in the aged care industry. If, for example, there are new pieces of technology that your competitors have cottoned on to, but your business has not yet implemented, benchmarking can help you make an informed decision about the value such an investment might have for your aged care facility.
It's important to remember the benchmarking process is an ongoing one. You should always be aware of where your aged care facility stands, as this is the only way to ensure you are providing your residents – both current and future – with the best possible service and care.
A common reason people shy away from benchmarking is the supposed cost, in terms of both time and money. While, in the past, benchmarking could set you back huge sums of money, Mirus Australia has a faster and more cost-efficient method of getting you the data you need. It's automatic, instant and – best of all – it's absolutely free.