MGMA 2017 Annual Conference

Sessions Speakers Exhibitors Products Press Releases Show Specials Floor Plan

Benchmarking Tools to Increase Efficiency and Practice Profitability (Room Room 204)

Benchmarking allows you to quickly assess the health of your practice and is the starting point for a business case analysis that you can use to evaluate new products or services. This session will demonstrate the basic benchmarking process and provide participants with specific tools that they can bring back to their practice to implement the benchmarking philosophy that "if you don't measure it, you can't manage it and if you don't value it, you won't change it." Additionally, since each business case analysis must be tailored to the specific environment, the presenters will demonstrate how an assessment will differ for an independent practice, an ambulatory surgery center, and a hospital-based practice. The presenters will describe how to determine which metrics should be the key performance indicators (KPIs) that you and your leadership team need for executive-level decision making. You will also learn how to create a set of subordinate metrics that will diagnose the root cause of a KPI that exceeds its threshold limits. The presenters will provide separate practical exercises to describe a business case analysis for a new revenue center in a private practice and in a hospital setting. By attending this session, participants will have both a working concept of how to benchmark performance and practical tools they can use to implement a benchmarking program in their practice.