Reading Time - 4 min
Why you should spend 4 minutes reading this:
If your locations are not profitable you will have to close your doors
In the long-run, your goal is to maximize the amount of revenue generated from your patient flow in each location
For the services provided, the revenue generated must exceed the cost to provide that good or service.
Here are articles/playbooks on how to maximize revenue and control costs.
You should select location managers, so that there is clear ownership of both well and poor performing locations.
Location Production Reviews
Here is a sample of a location's performance and the tactics you could deploy to improve that performance
If you are interested in how you can use data to track overall performance, more on that here.
Every care provider is different and you'll need to develop the most effective Key Performance Indicators (KPIs), for the success of your organization. Here are some examples:
1. Encounters / Day
2. Encounters / Lane
3. Revenue / Encounter
Bottom Line KPIs
4. Cost / Encounter
Once you decide on your KPIs, you'll want to benchmark them against "best-in-class" peers to help gauge your opportunity by location.
The action items from location management could be:
1. Increase slots on schedule for more encounters
2. Improve physician/extender workflow to increase throughput
3. Improve inventory systems/processes to reduce waste
4. Push for more contracts/patients to your location
If you need help developing a location management system for your organization, let us know by filling out the form below.
High-level actions you can take based on this article:
1. Develop analytic capabilities to understand location performance
2. Develop location management processes to empower locations to improve
3. Develop long-term KPIs to protect your bottom line in the years to come
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Winner: the Data Driven Provider
I am a physician in a practice or clinic
I am looking grow my practice or clinic
I am looking to sell my practice or clinic
I am looking to provide cost-effective care