Overview:

One of the most frequently asked questions is, "How does my practice measure up to industry benchmarks?" Assessing your practice critically does indeed mean comparing it against external measures.

Managing to median benchmarks or accepting average can have significant implications for your practice. Ask yourself why you are satisfied with just being "average," when other practices consistently perform better. If another practice can produce more or collect more, why can't your practice? What do you have to do to become a better performing practice?

Better performers standardize operations across their practice and individual work groups. Compare your numbers against the average and ask yourself if average is really satisfying. Don't set the bar too low. Learn to ask critical questions that lead to answers to make your practice a better performing practice.

Why should you attend: How do you know that your practice is achieving all that it can? What are the possibilities for earnings? How many staff should you have? What is the right amount of square footage for your specialty? What should your days in A/R be? You can probably rattle off your Key Performance Indicators, but can you benchmark your practice against better performing practices? This session identifies the KPIs that are critical for success and those KPIs that are most informative for managing operations and communications. The session will highlight dashboards for physicians and provide best practice resources of better performing medical groups.

Areas Covered in the Session:

• Know your KPIs
  
• Know how they stack up against external benchmarks for better performing practices
  
• KPIs for success in managing operations
  
• Communicating KPIs with dashboards
  
• Benchmarks of better performing practices
  

• Practice Administrator
  
• Practice CEO/CFO
  
• Physician Managing Partner
  
• Revenue Cycle Director
  
• CBO (Central Billing Office) Manager