Variance Analsis and Benchmarking Discussion

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Discussion Question 1: Representation: Variance Analysis

Variance analysis is very important for
healthcare managers because it can be used to observe how well a
healthcare organization is performing and also how close actual costs
and revenues are to expected costs and revenues. However there are some
caveats to its usefulness.

What is variance analysis and why is it
important to healthcare providers? What is the difference between
flexible budget variance and static budget variance?

Discussion Question 2: Benchmarking as a Measurement ToolBenchmarking is gaining a lot of attention in healthcare
industry these days. Benchmarking allows healthcare managers to assess
and measure the quality of an organization’s policies, products,
programs, strategies, etc., and their comparison with standard
measurements, or similar measurements of its peers. The objectives of
benchmarking are (1) to determine what and where improvements are called
for, (2) to analyze how other organizations achieve their high
performance levels, and (3) to use this information to improve

What is benchmarking, and how do you do it? How would you as a healthcare manager utilize this measurement tool?

Assignment Instructions and Details:By Saturday, December 5, 2015, go to the Discussion Area and
post responses to two of the discussion questions assigned by the
facilitator. All discussion questions should be posted to the
appropriate Discussion Area.

Before the end of the week, begin commenting
on at least two of your peers’ responses. You can ask technical
questions or respond generally to the overall experience. Be objective,
clear, and concise. Always use constructive language, even in criticism,
to work toward the goal of positive progress. Submit your responses to
the appropriate topic in this Discussion Area.

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