KEY – red – below threshold; yellow – met threshold; green – met target; blue – met maximum
*Full year net operating margin goal is 0.55 percent (threshold); 0.97 percent (target); and 1.39 percent (maximum)
Yale New Haven Hospital recently shared an update on progress toward Performance Incentive Plan (PIP) goals for fiscal year 2021.
Now in its 22nd year, the PIP program has the same basic structure – employees are asked to collectively meet tiered goals and will receive a financial reward based on goal achievement. The size of the reward shared by eligible employees at year-end is determined by the degree to which YNHH achieves the goals – maximum exceeds expectations, target meets the goal, and threshold is acceptable, but falls short of target.
Again this year, eligible employees could potentially earn a PIP payout of up to 3 percent of their earnings. Payout will be based on hours and earnings between Oct. 1, 2020 and Sept. 30, 2021.
“We are extremely pleased to offer the PIP program to employees once again this year,” said Keith Churchwell, MD, president, YNHH. “As we continue to combat the challenges brought on by the pandemic, including significant financial deficits, it is important to remain focused on our goals. This year’s PIP program includes goals that reflect the ongoing priorities of our hospital and health system.”
The four hospital-wide areas of performance remain the same: patient experience, patient safety and quality, employee engagement and financial performance. Each area receives equal weight of 25 percent.
Patient experience measures patients’ and families’ experiences at YNHH as expressed in Press Ganey surveys. This year, the category reflects overall patient satisfaction on adult inpatient units on both New Haven campuses, patients on the Yale New Haven Children’s Hospital units in New Haven and Bridgeport, and patients at outpatient and ambulatory sites. The score as of January was 76.0, exceeding the year-end target score of 75.8.
Patient safety and quality measures the rate of patients who contracted the Clostridium difficile (C. diff) bacterial infection during their hospital stays. The year-end target goal is a rate of 5.14. Results as of January – 4.45 – exceeded the maximum goal.
Employee engagement is measured in PIP this year by employee participation in YNHHS Diversity, Equity and Inclusion (DEI) courses. The target goal is for 10.6 percent of employees to participate in one or more DEI courses throughout the fiscal year. As of January, participation was 6 percent.
Financial performance includes the measure of the hospital's operating margin, with a focus on reducing the financial deficit. The year-to-date target goal for the net operating margin is -1.45 percent. The year-to-date operating margin as of January was -5.6 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 2021.
