Metrics in your practice - 8 key KPIs for a more efficient practice
Looking to gain a deeper understanding of the financial comings-and-goings of your medical practice?
Get ready to turn your practice's financial information on its head, and make it work for you.
In a nutshell, a KPI is a measurable value that demonstrates at a glance how effectively an entity is achieving their key business objectives.
KPIs are intended to view historical performance, and allow management to gain insights in to the causes of that performance, giving opportunity for change and improvement of future performance.
When you are designing KPIs there is a temptation to use the 'standard' set used across many businesses. Taking this path however does not encourages behaviour to achieve the specific objectives and goals of your business, but rather a "generic" business.
By using the KPIs found in this guide book, you can start the conversation with yourself, and the rest of staff, as to what goals and objectives your specific business has and how best to achieve them.
If at any time through the implementation of reporting KPIs across your business you wish for a second opinion, please keep the team at Abbotts in mind.
By reading this guide book, you will:
Get a clear understanding of your practice's performance
Learn how to standardise your financial knowledge
Create effective financial checks that work for you
Align your business goals with the actual operation of your business
Design strategies to maintain and improve business profitability
Frequently Asked Questions
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