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When inquiring about the topic of statistics in private practice, one might get a wide variety of responses depending on who you’re asking. However, if you are the owner of the practice with any executive training, I believe the responses you get will consistently be positive.
This week, Brian shares what some of the key metrics and statistics are, and even more importantly how you get your staff on-board. Running a physical therapy private practice is a team effort, one that will be more successful as you hire and train staff who are more interested in hitting their production targets/stats and quality satisfaction measures/metrics than simply doing the tasks before them. Unfortunately, far too many owners are unware of this critical factor and it becomes overshadowed by the need for more patient visits.
Episode at a glance:
- The three main responsibilities of any CEO, executive or owner are to LEAD, EDUCATE AND MOTIVATE . This is difficult to accomplish without statistics and metrics.
- The difference between statistics and metrics.
- The logistics of tracking and applying statistics into your practice: track and manage on a three-week trend, how do you derive the statistics? 35-45% should be pulled from your EMR system, the rest will be tracked manually in a shared document (we recommend Google Sheets).
- Key operational metrics that the top 10% of physical therapy practices around the country use to manage and measure their operational systems effectiveness.
- Why teaching versus training?
As always, if you have any ideas topics or suggestions that you would like to hear about, feel free to leave a comment. Similarly, please feel free to schedule a time to chat directly if you want to learn more about how MEG can help your practice.
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Brian Gallagher, PT is the founder and CEO of MEG Business Management, LLC. He has more than 27 years of experience in the field of rehabilitation and 19 years in business and specializes in Physical Therapy practice management and executive coaching nationwide. As a licensed business management consultant, Brian has helped hundreds of business owners nationwide improve their business operations through proper restructuring to achieve improved systems of efficiency and productivity as well as marketing and sales with effective public relations which have proven results for double-digit growth year-over-year with businesses around the country.
