Discussion: The Process of BenchmarkingIn order to be competitive in healthcare markets, organizations must ensure that the services they provide areconsistent in pricing and quality with other comparable organizations. In thisDiscussion, you will examine how the process of benchmarking, or comparingorganizations, is important in financial decision making.To prepare:Review the information on benchmarking found in thisweek’s Learning Resources.Search the Walden Library or other reliable resourceson the Internet and locate a journal article discussing how a health careorganization has used the principle of benchmarking.How could the concept of benchmarking be used in yourown organization (or one with which you are familiar), regardless of size?Consider how benchmarking could be useful to you indecision making.Analyze the potential risks of making a faultycomparison.ByDay 3Post a summary of the article you found (including the APAreference) and explain how it informed your understanding of benchmarking.Discuss how benchmarking could be used for financial decision making in yourown organization (or one with which you are familiar). Also analyze thepotential risks of making comparisons with an organization that is not acredible match with your own.
