256 Measures Of Efficiency. Who Knew?

Value = Performance/Cost

It's a simple equation but so hard to actually define—and then to measure and manage. One half of the equation is performance—some combination of outcomes and experience. Consumers define performance one way, families another, and payers yet another.

Executive teams in the health and human service field spend a lot of time focused on improving performance—better quality, consumer satisfaction, service accessibility, and more. But I've observed that less time is focused on the other half of the equation—cost or efficiency. In business, efficiency is defined as the ability to achieve an . . .