An article by Practice Pro Founder and CEO Sanjay Patel was featured in the prominent peer-reviewed journal, The American Journal of Managed Care. In the feature, he shares best practices on how therapy practice administrators can harness practice data and how to use Key Performance Indicators (KPIs), describes the American Physical Therapy Associations PPS KPI Benchmarking Program, and much more.
Do you know the difference between data and information? Think of information as a usable form of data. For example, you may know how often patients dont show up for their appointments each day, but are you aware of the week-over-week or month-over-month no-show rate and how your practice compares with others? That would be a simple differentiator between data that youre aware of and information you can use to make intelligent business decisions.
With increased competition and lower reimbursement putting pressure on therapy practices, understanding key performance indicators is a critical consideration to gauge the health of a practice, find areas for improvement and make better decisions. But not all indicators are created equal. To be truly actionable, information should be as real-time as practical, which just isnt possible without a practice management software system that supports KPI dashboards.
To read the full article, visit The American Journal of Managed Care.