“If you don’t know where you’re going, you might wind up somewhere else,” said Yogi Berra with his unique spin. And he wasn’t wrong.
It’s fair to say most providers want to improve their productivity, revenue, and quality of care. Yet, many of them don’t know how to make these improvements for productivity and revenue because they don’t have a clear understanding of where their business stands today.
Can you answer these questions about your practice?
- Total patient encounters
- Total charges
- Total collections
- Number of medical procedures
- Total adjustments
- Outstanding accounts receivable
- How are you tracking outstanding accounts receivable
- How you benchmark metrics against similar practices or specialties
- How you make “fixes” when needed
Less folksy than Yogi Berra, the famous management consultant W. Edwards Deming said, “If you can’t describe what you’re doing as a process, you don’t know what you’re doing.” And he wasn’t wrong either.
Taking the time to understand metrics about your practice can improve productivity, revenue, quality of patient care.
Learn more about Scribe’s solutions that aid practices in analyzing, optimizing, and managing your practice.