<\/figure>\n\n\n\nYour Report<\/h2>\n\n\n\n Data collected monthly is used to populate an easy-to-read \u201cExecutive Summary,\u201d which visually captures your operational and financial performance. These reports can show how your business is doing monthly, year-to-date and year-over-year if you continue tracking these metrics long-term.<\/p>\n\n\n\n
You\u2019ll also see how your practice stacks up to others. Fuel Medical collects anonymous data from all types of practices nationwide, including single-specialty, multi-specialty, university clinics and nonprofit organizations. We display the data from each metric in three benchmark tiers: the lowest, mid-range and the highest. Seeing where your practice falls within these categories with like practices gives you a new perspective on how your business is doing. But this is only part of what KPIs can do for you. Curious how your practice measures versus your peers? Complete the form fill on the right side of this page to obtain your copy of our KPI benchmarks.<\/p>\n\n\n\n
Creating Smart Goals<\/h2>\n\n\n\n KPIs are the foundation on which goals are established. Once the data is collected, your Fuel Medical regional team can help you analyze it. We\u2019ll look at each metric point to see areas where your practice excels and areas performing less than expected. Because we work with practices nationwide, our regional teams know what specific data patterns indicate.<\/p>\n\n\n\n
Imagine the following scenario: It seems that you have too many empty appointment slots, so you decide that the solution is to create a marketing campaign to bring in new patients. You spend $10,000 on a comprehensive campaign sending prospect mailers to targeted people. After six months, you notice that some new patients have come in, but many empty appointment slots remain. You\u2019re frustrated because the expensive marketing campaign hasn\u2019t solved your problem.<\/p>\n\n\n\n
Scenarios like this are playing out nationwide, but they don\u2019t have to. By tracking KPIs, audiology and ENT practices can solve problems like the one described above by analyzing the data. With the correct information, this administrator might notice that the practice has enough patients being scheduled for hearing tests as each provider\u2019s appointment volume is between the median and top 20% benchmark. When the administrator looks at the conversion of hearing tests to opportunities (HAEs or CNAs), there is a significant drop in the number of HAEs or CNAs being scheduled. This indicates that there are patients slipping through the cracks after they have their hearing test. Now, the administrator knows that the issue isn\u2019t with the marketing campaign, but rather there\u2019s an opportunity to plug some holes internally to reduce the number of patients not scheduling their hearing aid evaluation appointment after their hearing test indicates they could benefit from hearing aids. This solution won\u2019t cost you any money other than the time it takes to pull appointment data by audiologist and analyze it against benchmarks. Every hearing aid patient opportunity lost costs the practice about $2,500, so it is well worth the time to go through this exercise. <\/p>\n\n\n\n
KPIs can be confusing, so many people avoid using them in their practices. But you aren\u2019t alone. Fuel Medical can help you with this process. We\u2019ll explain which data needs to be collected, review it at specific intervals throughout a year, discuss areas of strengths and weaknesses that appear through that analysis and then recommend improvement plans to keep your practice running smoothly and profitably. Fill out the form fill on this page to learn more and get your copy of our KPI benchmarks.<\/p>\n","protected":false},"excerpt":{"rendered":"
Analyze Your Practice\u2019s Operational and Financial Performance With KPIs How do you decide if your practice needs a new marketing campaign, if you should hire another audiologist or if you should accept more or less third-party programs? These decisions aren\u2019t easy and often require a monetary investment, so they need careful thought. Many people use…<\/p>\n","protected":false},"author":1,"featured_media":12580,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_seopress_robots_primary_cat":"none","_seopress_titles_title":"","_seopress_titles_desc":"","_seopress_robots_index":"","header_content":"","schema":"","fname":"","lname":"","credentials":"","position":"","tenure":"","department":"","location":"","apply_url":"","placeID":"","no_match":false,"name":"","company":"","review":"","address":"","city":"","state":"","zip":"","lat":"","lng":"","phone1":"","phone2":"","fax":"","mon1":"","mon2":"","tue1":"","tue2":"","wed1":"","wed2":"","thu1":"","thu2":"","fri1":"","fri2":"","sat1":"","sat2":"","sun1":"","sun2":"","hours-note":"","footnotes":""},"categories":[118],"tags":[],"article_type":[12,108],"_links":{"self":[{"href":"https:\/\/fuelmedical.com\/wp-json\/wp\/v2\/posts\/12514"}],"collection":[{"href":"https:\/\/fuelmedical.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/fuelmedical.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/fuelmedical.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/fuelmedical.com\/wp-json\/wp\/v2\/comments?post=12514"}],"version-history":[{"count":18,"href":"https:\/\/fuelmedical.com\/wp-json\/wp\/v2\/posts\/12514\/revisions"}],"predecessor-version":[{"id":12588,"href":"https:\/\/fuelmedical.com\/wp-json\/wp\/v2\/posts\/12514\/revisions\/12588"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/fuelmedical.com\/wp-json\/wp\/v2\/media\/12580"}],"wp:attachment":[{"href":"https:\/\/fuelmedical.com\/wp-json\/wp\/v2\/media?parent=12514"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/fuelmedical.com\/wp-json\/wp\/v2\/categories?post=12514"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/fuelmedical.com\/wp-json\/wp\/v2\/tags?post=12514"},{"taxonomy":"article_type","embeddable":true,"href":"https:\/\/fuelmedical.com\/wp-json\/wp\/v2\/article_type?post=12514"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}