It is amazing to me that doctors and therapist still don’t track and know their practice statistics. TO me, that is insane! Everything is known by knowing your stats. If you email me your stats, without giving me any information, i can guarantee i can tell you what is wrong with your practice. IN fact, go ahead and do it! Email me your practice stats and i will give you a free five minute analysis, email me firstname.lastname@example.org and i will give you a free analysis.
You must record your stats daily, weekly, monthly, quarterly and yearly. You must review them weekly at a staff meeting, set goals, measure your progress and keep up on them. Now, different specialties do have different statistics, so i can’t go into all of them, but i will go over some of the basics
New Patients: the lifeblood of all practices. you must have a good NP flow and keep the numbers up!
Patient visits: Pretty self explanatory, how many patients come into your clinic every day, week month
OVA: Office visit average. This one works for most office, the total dollar amount you collect per patient visits, total collections divided by total patient visits
CVA: case visit average. The amount a new patient is worth in your practice. ALso pretty universal, Total collections divided by new patients
PVA: Patient visit average, works in many settings, physical therapy, acupuncture, chiropractic, many other fields, the average number of times a patient comes into your clinic.
Total Production: The amount billed by your clinic, per day, week, month
Collection Percentage: The percentage of collectable billings you collect. So if you bil 100 bucks, and collect 90, your percentage is 90 percent And many many more!!
These ones are key stats for most clinics. Email me for a free stat review, email@example.com