Looking at GI Practice Management Differently: Fortify the Business of Healthcare in the GI Practice (On-Demand) | November 2021-05-Practice Operational Metrics

05-Practice Operational Metrics_Chaudhry

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In this session, Dr. Sufiyan H. Chaudhry discusses practice operational metrics, specifically what has changed, what has changed a little, and what hasn't changed at all. He mentions that key performance indicators (KPIs) are important in measuring the performance of an organization in achieving its strategic and operational goals. These KPIs vary based on the practice and environment and should be measurable. There are lagging KPIs, which measure the outcome of a change, and leading KPIs, which guide the change. Dr. Chaudhry provides examples of KPIs in various areas such as patient calls, new patient numbers, cancellation and no-show rates, productivity, schedule utilization, patient wait times, phone response times, staff turnover rate, financial metrics, referrals, patient satisfaction, adverse incidents, and PQRS-MIPS/MACRA. He also emphasizes the importance of benchmarking, which allows practices to understand and evaluate their situation in relation to others in the same industry segment. However, he mentions that benchmarking may not always provide an accurate comparison. Due to COVID-19, he advises monitoring metrics more frequently, reviewing cost information in dashboards, and reassessing workflows. Dr. Chaudhry concludes by emphasizing the need to adjust baselines and retool old metrics to accommodate the changes brought about by the pandemic.

Keywords

practice operational metrics

key performance indicators

patient calls

new patient numbers

cancellation and no-show rates

productivity

schedule utilization

patient wait times

financial metrics

benchmarking