What Are Your KPI’s?

I received a great article in my e-mail today with regards to physical therapy metrics; they talked about watching your KPI’s.  I had a great laugh at this, because for a long time I have been preaching about the importance of KPI’s in our weekly metrics!

What exactly is a KPI?  Well, simply put, these are “Key Performance Indicators” of your practice.  KPI’s are regularly used in business and are measurements of your company’s mission.  You might then ask “what does my mission have to do with this?”  I didn’t say mission statement…so look for my blog next week about mission.

Anyways…after we hammer out our yearly budget, I break down the specific measures needed each month and each week to achieve that budget.  We then use KPI’s to monitor the progress of making, or missing, this budget.  These KPI’s are then shared weekly, and monthly, with all members of my management team.

Some common metrics that are tracked using KPI’s are: revenue metrics (collections per visit, charges per visits, etc.), collection metrics (percentage collection more than 90 or 120 days), marketing metrics (referrals).

Don’t fret if you are confused!  Our complete metric package includes a KPI sheet that can be used to ensure you are on track!  If you are interested in learning more, Click Here for your FREE Stat Sheet!

Andrew Vertson, PT, DPT, ATC
Latest posts by Andrew Vertson, PT, DPT, ATC (see all)

You Might Also Like...