{"id":4576,"date":"2018-04-03T16:34:22","date_gmt":"2018-04-03T23:34:22","guid":{"rendered":"https:\/\/fuelmedical.com\/?p=4576"},"modified":"2020-10-14T15:34:19","modified_gmt":"2020-10-14T22:34:19","slug":"your-owners-manual-to-kpis","status":"publish","type":"post","link":"https:\/\/fuelmedical.com\/your-owners-manual-to-kpis\/","title":{"rendered":"Your Owner\u2019s Manual to KPIs"},"content":{"rendered":"
Fuel Medical is committed to improving your fiscal performance. One critical component in achieving that goal is reviewing your performance and operational data. This data provides us with an objective set of decision making criteria we call Key Performance Indicators (KPIs). Many businesses like yours either do not have the time or tools to efficiently track, analyze and interpret the key drivers of their business. This article provides some simple ways data can be gathered from a number of information systems and converted into a meaningful set of metrics for comparison against current targets, historical performance and \u201cBest Practice\u201d benchmarks for your audiology department. The chart below displays how fiscal performance can be tied to specific activities inside your clinic.<\/p>\n
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Think about KPIs like you think about the instrument panel in your car: they alert you to potential pitfalls related to efficiency and performance, then point you in the right direction to address and improve the areas of greatest need. Along the same line, information in this article should be similar to that of a vehicle owner\u2019s manual \u2013 you don\u2019t need to memorize it, but keep it nearby for reference. At Fuel, we focus on 18 key metrics and use collected data to identify target ranges for our members. When any of the 18 metrics falls outside the desired target range, we diagnose the problem but also identify solutions to positively impact your bottom line.<\/p>\n
The numbers collected each month populate an easy to read \u201cExecutive Summary,\u201d which visually captures your operational and financial performance. The reports will show how your business is doing monthly, year-to-date and annually, and how your numbers compare to both the previous year\u2019s and your current year\u2019s targets. We are happy to assist you with the data extraction process. We can populate the majority of these metrics using a monthly P&L and a detailed hearing aid transaction report. We can also provide manual tracking sheets in a user-friendly Microsoft Excel document if you do not currently have access to a hearing aid detail report.<\/p>\n
Not sure where to start? We can help. Complete the Financial Profile survey below and your regional manager will be in touch with you.<\/p>\n