What Story Is Your Data Telling You?

Last week we discussed mid-year practice results. This week let’s look more closely at the story your data is telling you.

Every practice has key performance indicators that connect to financial results. Before your accountant finalizes your profit and loss statement for the year, quarter or month, your data is telling you a story. It’s up to you to read your data and to recognize and respond to the story that it is telling you.

Let’s look at a basic indicator of practice performance, new patient growth. New patients are an essential factor in every practice’s success. Measuring new patient growth on a weekly and monthly basis allows you and your staff to monitor performance and make adjustments before the book is closed on your financial results.

Training your staff to consistently review the patient schedule and make the necessary adjustments will ensure that the schedule is optimized. For example, if an OR day is light, do you encourage your staff to use the morning or afternoon as an opportunity to schedule new patients? When you adjust your schedule to focus on new patient growth, you inspire your staff to maximum their efforts. Modifying your schedule demonstrates to your staff the importance of the patient schedule. In addition to optimizing the schedule, a consistent review of the schedule will ensure that your booking window is minimized driving increased opportunities for scheduling new patients.

The connection between practice results and daily processes is evident and successful practice leaders are reading their data’s story and focusing on the processes that drive successful results.

If you are ready to control your data story and would like support, please contact me at smays@impactpracticeconsultants.com.