Nearly every business owner or manager we speak with is aware that tracking their company metrics is important. Yet many are failing to do this consistently or failing to utilize them properly. As therapists, we have been educated and trained to track our patients’ progress by measuring strength, range of motion, endurance, and various other objective measures. So why are we not making sure to do the same for our business? In our experience, there are a wide range of challenges that lead to this. Before we get into the challenges of utilizing metrics, let’s talk about why we should do it in the first place.
Why Metrics?
By definition, metrics are a standard for measuring or evaluating something. We know that in order to make the best patient care decisions, we need to complete an evaluation with both subjective and objective measures. At APT Management Solutions, practice management Is viewed in the same fashion. We need to be performing evaluations and writing weekly SOAP notes on our clinics!
Without metrics, we have no objective data and can only act on our what we feel is happening. In our experience, this has never led to optimal success. If a patient came into your clinic complaining of low back pain, you could take that report alone and show them a few exercises and tell them to use ice and heat to help their symptoms. This might help them slightly, but what if the symptoms don’t fully resolve or get worse? We have failed our patient in this scenario! This is why the performance of tests and measures is a critical step in the evaluation process. The same should be followed at all times when managing a practice. Utilizing objective measurements (metrics!) of your practice will allow you to strategically evaluate the health and wellness of your business and make better business decisions.
Obstacles & Solutions
If we know metrics are important, why aren’t we all utilizing them in our practice management? Our experience in practice management has provided insight on some of the most common obstacles limiting the success of utilization metrics. In response to these obstacles, we have created solutions to give practice owners and managers the knowledge and tools needed to succeed.
- Unsure where to start: Not sure which metrics to start with? Check out our blog post on Weekly Metrics to Track!
- System limitations: Unlike the days of paper schedules and charts, our scheduling and financial platforms all have reports we are able to run; however, not all systems have been created equal. Knowing which reports tell you the needed information can be challenging and at times they may not exist. Interested in knowing our favorite systems based on their reporting capabilities or how you can utilize your current system better? Reach out to schedule a consultation call!
- Time: Historically tracking metrics has required staff members to either run reports or count visits/openings on the schedule manually and record totals on a spreadsheet. With reimbursement for care continuing to decline, we cannot always afford to lose this precious time. We have seen many decide to limit the number of metrics tracked or not track any to save time. This is one of the main reasons why we created the solution of PT Business Analytics which easily integrates with your practice’s EMR to provide automated reports saving your team precious time!
- Inability to draw conclusions from the numbers: When looking at numbers on various spreadsheets, it can be extremely difficult to determine what trends are present. In order to fully utilize metrics for decision making, we must be able to see the story the numbers are telling us. Enter the world of data visualization! Our PT Business Analytics platform not only takes the work of retrieving the data out of your hands, the reports provide visual displays through charts and graphs to provide an easy way to see trends, outliers, and patterns.
Ask For Help
Still unsure of how to get started or how to decipher your metrics? Lack the support of an experienced executive team to collaborate with? Reach out and schedule a free consultation call with our founder and find out how our team can help.