Actionable Data: What You Should Track and Why You Need to Track it
Author: Miriam Allred
If data isn’t driving your decisions in 2020, chances are your agency’s progress this year will be marginal at best.
We’re at a point in time when assumptions or uneducated predictions are a thing of the past because our tech-powered world gives us incredible amounts of data that can inform our decisions.
Home care is right in stride with most other industries, in that we’re integrating tech into nearly every part of our day-to-day business functions. As an agency owner, technology should be automating tasks and workflows, allowing you to become more efficient, consistent and proactive. Technology should be aiding you and your staff in daily processes allowing you to provide higher quality care consistently and thoroughly.
While collecting data and analytics is good, this year however, your sights as an agency should zero in on actionable data.
What exactly is actionable data?
Data by definition is facts and statistics collected together for reference or analysis. However actionable data or actionable insight, by Techopedia’s definition, is information that can be acted upon or that gives enough insight into the future that the actions taken become clear for decision makers.
As the decision maker for your agency, you should set your sights on actionable data points or insights so that you can strategize where your agency is heading in the next 90 days, 6-months, 1-year and 3 years.
So, what are those actionable data points for my agency?
Some of the most important actionable data points that your agency should track this year fit into two categories: Client Experience and Caregiver Experience. If you take your clients or your caregivers out of the equation, how would your agency function? Their satisfaction and overall experiences are necessary for you to sustain a successful future for your agency.
One of your top priorities as an agency should be your client experience. We like to say that your caregivers are the heart of your business and your clients are the lifeblood. The precious clients you care for supply the demand for your services, and its crucial that you treat their experience as an essential component to measure.
There are a variety of data points that you can collect revolving around the experience your clients are having. Customer loyalty should be considered one of the most important, if not the most important metric your agency tracks.
Some of the actionable data points that we focus on in the surveys we make for our clients include:
- Net Promoter Score (client loyalty) – client loyalty
- Client Satisfaction
Other actionable data points that your agency should be tracking:
- Client acquisition cost
- Inquiry-admission ratio
- Client outcomes such as hospital readmission rates and reduced falls
Caregiver Experience (Recruitment/Retention)
As mentioned above, your caregivers act as the heart of your company. Keeping a pulse on your caregivers will set the tone for your entire company.
Gathering feedback from your caregivers shows them that you’re prioritizing their needs and builds trust to help them be more likely to go directly to you if there’s an issue in the future. As you prioritize your caregiver experience, you’ll see improvements in client experience and overall advancements in your agency.
One of Home Care Pulse’s main focuses is conducting caregiver for surveys for agencies to gather actionable data. Some of the key data points we help our customers gather, and that we encourage all agencies to gather, include:
- Overall caregiver satisfaction
- Employee Net Promoter Score
- Caregiver satisfaction in various areas (training, recognition, client/caregiver compatibility, etc.)
Other actionable data points your agency should be tracking:
- Caregiver turnover rate (for each recruitment source)
- Cost per hire for each recruitment source
Don’t Wait to Start Gathering the Right Data
For those of you using applicant tracking systems, customer relationship management software, or other technological integrations, kudos to you! The industry is evolving and agency owners that are adapting and embracing these data-driven tech alternatives are going to continue to outrun those that are not.
Client and caregiver satisfaction data will continue to prevail as an essential component of your data-collection this year. The Home Care Pulse Satisfaction Program is a great resource if your agency needs help tracking and measuring these satisfaction data points.
If you’re looking for more actionable data points to track as an agency visit our Home Care Owner Checklist.
Home Care Pulse is proud to partner with Savii. Our software integration allows Savii customers to save time on data entry and makes it easier for them to collect actionable client and caregiver experience data.