Financial Benchmarking Opportunity for Pennsylvania Hospitals: CRAFT
HAP is offering member hospitals and health systems the chance to participate in the Collaborative Reporting Analytics for Financial Transparency (CRAFT) program.
This participation opportunity is offered at a reasonable cost to all HAP members statewide. Hospitals who participate will have access to CRAFT analysis reports.
The CRAFT reports provide real-time, actionable data, and can help identify opportunities for improvement through descriptive and predictive analytics. Program participants currently are using the reports for comparisons and in board reports and during meetings. Report information will also be critical to HAP’s advocacy focused on issues important to Pennsylvania’s hospital community.
CRAFT reports are generated quarterly, with analysis done by:
- Region
- Bed Size
- Peer Grouping (Urban/Non-Urban, Teaching/Non-Teaching)
- Medicare Category (CAH, Sole Community, Medicare Dependent)
Individual health care facility data is never shared publicly and is only used for aggregated benchmarking. Data is encrypted and only accessible by authorized CFHS and HAP personnel for reporting and analysis purposes.
A Comprehensive Lens for Hospital Leaders
The CRAFT Survey provides a comprehensive lens into the performance of member organizations across the care continuum – equipping hospital leaders and others responsible for fiduciary oversight with crucial data points and emerging trend lines for planning initiatives, including but not limited to:
- Margin Ratios
- Uncompensated Care
- Admissions
- Patient Days
- Net Patient Revenue and Costs per Adjusted Admission
- Full-time Equivalents (FTE) and Personnel Costs
- FTEs per Adjusted Occupied Bed
- Outpatient Emergency and Other Outpatient Registrations
- Observations Cases
- Surgical Operations
- Capital Expenditures
- Capital Spending as a Percentage of Depreciation
- Average Age of Plant
More Information and HAP Contacts
For more information about pricing and to discuss next steps, contact HAP’s Strategic Analytics department. Media inquiries should be directed to Kim Yakowski, manager, media relations.