Is my staffing level appropriate for my practice? Is my overhead too high? Is my billing department doing a good job?
These are just a few of the questions we are asked by urology groups around the country. One urologist recently asked a broader question: What should I be looking at each month to see how well my practice is operating?
As we move from a fee-for-service model to a value-based model of payment, the answer to this question will evolve to include a much broader look at practice services and the measurements applied. This article focuses on several common and easy-to-measure data points within a practice that provide a report card to monitor on a monthly basis.
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Although every office has intangibles that are difficult to measure, most of the day-to-day operations of a urology practice can be measured by reviewing data you already have available.
Benchmark comparisons, where available within tables 1 and 3, are provided based on Physician Reimbursement Systems Network experience, data collected from practices, and an amalgamation of data sources including the AUA, The State of the Urology Workforce and Practice in the United States 2016 (AUA Census report), IntrinsiQ’s InfoDive tool, the Medical Group Management Association, and Medscape.