YNHHS rolls out PIP goals
Yale New Haven Health recently shared an update on the Performance Incentive Plan (PIP) program and goals for fiscal year 2024.
PIP is a discretionary program available to employees. Now in its 25th year, the program has the same basic structure – employees are asked to collectively meet tiered goals and may receive a financial reward based on goal achievement. The size of the reward shared by eligible Yale New Haven Hospital employees at year-end is determined by the degree to which YNHH achieves its goals – maximum exceeds expectations, target meets the goal, and threshold is acceptable, but falls short of target.
YNHH PIP performance to date
Here is an update on the progress on YNHH FY 2024 PIP goals to date:
- The results for the Safety & Quality metric of hospital-acquired infections is measured in points. The most recent score (annualized through Dec. 2023) is 8 points, exceeding the threshold goal, but falling short of target.
- Press Ganey “Likely to Recommend” score through February 2024 is 82.49, exceeding the threshold goal, but falling short of the target.
- The Employee Engagement Survey participation rate will be determined later in the year once the survey has been completed.
- YNHHS operating margin as of January 2024 is 3.0 percent – exceeding the maximum goal.
Again this year, eligible employees can potentially earn a PIP payout of up to 3 percent of their eligible earnings. Final payout will be based on hours and earnings during fiscal year 2024. To be eligible for PIP participation, YNHH employees must work at least 1,000 hours at YNHH in fiscal year 2024 and be active employees on the date of payout. (This is applicable unless expressly superseded by a collective bargaining agreement.)
PIP goals are tied to the health system’s strategic priorities and designed to improve performance in essential areas: quality/safety/patient experience (to deliver world-class care); employee engagement (to elevate a culture of excellence and accountability) and financial performance (to advance our financial sustainability).
YNHH PIP metrics for 2024:
- Number of hospital-acquired infections: Measures the rate of patients contracting hospital-acquired infections during their hospital stays. The infections measurement consists of points based on performances across five areas: Central line-associated bloodstream infections (CLABSI), catheter-associated urinary tract infections (CAUTI), C. diff, methicillin-resistant Staphylococcus aureus (MRSA) and surgical site infections (SSI). Target goal is 10 points (two points per infection count).
- Press Ganey “Likely to Recommend”: Reflects patients’ perceptions of how well we met their needs by capturing the percentage who chose the most favorable score for the Press Ganey survey question “Likelihood to Recommend.” It includes all survey responses from inpatient and outpatient settings. The year-end target score is 82.96.
- Employee engagement survey participation rate: The more employees who complete the survey, the more representative the feedback. It is important to hear from as many employees as possible to guide action plans and decisions that will enhance the work environment. The participation rate is the percentage of unique employees at each organization who complete the survey, out of all employees at that organization who are eligible to take it. The target goal is 74 percent participation.
- YNHHS operating margin: Indicates our ability as a health system to self-fund additional or expanded services from regular business operations. The operating margin reflects how much income remains after we cover our expenses. It includes operating revenue and expenses that are health system-centralized but does not include non-operating revenue such as investments. The target YNHHS year-end operating margin is 0.5 percent.
Final PIP results will be announced after the end of the fiscal year. Any potential PIP payout will be awarded to employees in December 2024.
