Success Strategies: Metrics That Matter for Private Practice Owners in 2019
Section: Private Practice Section
Session Code: PP-1B-0076
Date: Thursday, January 24, 2019
Time: 11:00 AM - 1:00 PM
Location: Marriott Marquis
Room: Independence Salon G
Session Level: Intermediate
Big data쳌 is a buzzword that you hear every day. Many industries have used available data to revolutionize their business concepts. Health care is also becoming increasingly data-driven, both in terms of outcomes and financial metrics. If you've ever opened the reports쳌 section of your EMR or looked into financial statements with your accountant, you might wonder where to even begin. You know you need to use your data better, but there's barely enough time to do everything else you have to do as a private practice owner.After opening their first clinic in 2003, the speakers realized they needed to better predict monthly revenue. At the time, analyzing metrics and key performance indicators (KPIs) wasn't that common in the physical therapy industry. The speakers will share how, through trial and error, they learned which metrics are key to the success of a PT practice and which are just background.쳌 This session will include interactive components where attendees will decide which metrics they should track in their individual clinics and how to best communicate the importance of data and dashboards to their teams.
Learning Objectives: Upon completion of this course, you will be able to:
1. Define the term key performance indicator쳌 (KPI) and justify 5 specific examples that are especially relevant to private practice.
2. Justify to your team the reasons for using data and/or dashboards to help achieve the goals of your practice.
3. Design a personal action plan, in a SMART goal format, to build a dashboard customized for your clinic.
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