Improvements in healthcare quality increase patient safety and satisfaction, positively impacting the reputation of a facility. However, these may also require resources: more budget, effort, or time – either to employ and train new staff or to invest in equipment and hospital infrastructure. But what is the impact on the bottom line?
There is little evidence publicly on how quality influences the financial health of institutions. As a result, hospitals often lack the resources they need to make data-based decisions about quality programs. In order to provide additional evidence, IFC launched the “Business Case for Healthcare Quality” contest. The goal: to present real-life cases from hospitals around the world that successfully used quality to improve their business.
Participating institutions that displayed a strong understanding of the business case for healthcare quality and provided a measurable impact collaborated with the IFC IQ-Health program to produce the 2023 Business Case for Healthcare Quality Highlights. IFC gleaned further insights by conducting interviews with top leadership, as well as the quality practitioners who implemented new programs.
About IFC IQ-Healthcare
Responding to global gaps in healthcare competence, IFC IQ-Healthcare —with the IQ standing for Improving Quality—helps health providers improve patient safety, align practices with global quality standards, and build safe health infrastructure. To date, the IFC IQ-Healthcare program helped more than 130 hospitals and clinics in nearly 20 countries. Over 6,000 healthcare professionals benefited from IFC open resources: a webinar series and self-paced training on healthcare quality and patient safety. Learn More
Last updated: May 2024