Track your pediatric practice’s financial health: 5 KPIs
How do you measure the financial health of your pediatric practice? Here are three of the top five key performance indicators discussed in Five Essential KPIs Pediatric Offices Need to Track:
- Total Days in Accounts Receivable – This KPI gives you a clear idea of how long it’s taking for your practice to bring in money. If your processing time takes too long, that’s the first thing you need to fix.
- Cost Per Encounter – Sick and well visits net your practice different amounts, sometimes substantially different amounts. If you know how much each visit costs, then your pediatricians and nursing staff can plan how much time to spend with each patient.
- Number of Visits – Patient volume indicates how many patients you’re bringing in and retaining.
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