Minneapolis Medical Practice KPI Dashboards To make smart decisions, your leaders need the right information - and fast. Do you have clear and reliable reports that show how your practice is doing compared to last year, your goals, your competition and your industry peers? Medical practice KPI dashboards can help you lead discussions in management meetings, help you summarize and follow important metrics in your revenue cycle, and get unprofitable or inefficient operations out of your way.


Lead, Follow or Get Out of the Way!

When used correctly, medical practice KPI dashboards can help you lead discussions in management meetings, help you summarize and follow important metrics in your revenue cycle, and get unprofitable or inefficient operations out of your way. Key Performance Indicator (KPIs) Reports are used by administrators, executives and physicians to evaluate performance in specific areas. Measuring performance, making comparisons and acting on opportunities are all vital to the success of your medical practice.

Monthly Financial Dashboards
A practice’s financial statements are the starting point for any financial KPI dashboard. Your revenue, operating expenses and profit or loss should be compared to prior periods and your budget to help judge the viability of the organization or a specific goal. How do your numbers compare to industry benchmarks, averages or top-performers?

Additionally, accounts receivable is an important metric. Take special consideration of the percentage of accounts receivable that is over 90 days. Knowing your payer mix and identifying any shifts are also keys to anticipating future cash flow. Comparing charges, receipts and contractual adjustments to previous months and years helps identify any seasonality that may occur in the practice.

Sample KPI Dashboard

Monthly Clinical Dashboards
Evaluating physician productivity is a fundamental indicator that should be reviewed monthly. Comparing practice and individual work relative value units by month can help you understand fluctuations in cash receipts. Using national benchmarks for comparison will help identify potential capacity issues. Many physician compensation programs are based on productivity, so measuring monthly and providing the data to the physicians eliminates much of the surprise that may come after the compensation is calculated.

Put Your Dashboards Into Action
Even a simple one-page dashboard can help identify areas of opportunity in a timely, relative and actionable manner. Use this to compare your clinic to others in your regional marketplace and specialty area. With simple yet sophisticated KPI dashboards, your management team can easily spot trends, address changes that need to be made and ultimately drive better profitability in your medical practice.

Where do you begin? That’s where we come in.

The DS+B healthcare team has the experience and expertise in designing KPI Dashboards that make complex data about your practice readily accessible. We guide you through all phases of design, linking your software, testing and usage training so your KPI reports are fast, accurate and easy to understand.

Create powerful new conversations for better strategic planning and financial management.

Let’s start a conversation, today. > Contact Us.