When What You Measure Is Not Enough

I am often asked what are the top metrics a physical therapy practice owner should measure. The simple answer is always the same one word: Anything!  Since many practice owners do not measure statistics at all, anything they can measure is better than the nothing they have been measuring.

Just because you are a good practice owner, measuring your statistics doesn’t take the pressure off of you. Not only must you measure them, you must also understand and react to them.  Case in point: I was talking the other day with an owner who was measuring referrals but was unable to tell me with certainty what sources these referrals were coming from. My question to this owner was how do you know what marketing efforts are working since you are not fully tracking.

I heard more sobering news this past Monday when I was hearing a physical therapy accountant talk about the nearly 10% reimbursement reductions in the State of California over the past year.  It made me shudder to think about all of those practice owners who are not measure, or are just measuring but not understanding how to decipher those numbers.

The new healthcare environment is requiring us to do more with less. To treat more patients with less time (visits) and less reimbursement (revenue). All good practice owners need to know when and how to react to these changes in order to not only survive, but to thrive!

Do you need help understanding your numbers? Click Here to schedule a FREE consultation to find out more about how we can help.

Andrew Vertson, PT, DPT, ATC
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