Free tools to help you manage your physician practice.
goal is to provide the basic tools to help you make decisions about
your practice. Once you’ve identified problem areas you can then take
steps to correct them or make an informed decision to bring in a
Assessing your overhead – Too much? Room to grow? Just right?
These tools are based around a 4-step process:
How your practice performs is objectively measured against industry
norms or other benchmarks. You will usually need access to your
practice’s financial information, like accounts receivable, annual
Benchmarking Costs. The second half of
the assessment is understanding costs. Even if performance is perfect,
a practice may struggle if costs are too high. Again, you will need
access to cost information like salary levels and space costs.
Because small practices don’t usually have large resources to make
sweeping changes, our recommendations focus on things that can easily
Follow-up. Each decision you take will change
the dynamics of your practice. It is important to measure the effects
of your decisions – come back to these tools in a month, three
months and a year after making changes to see how your decisions
affected performance and cost.
While we hope these tools are
helpful, they provide suggestions based on imperfect equations and
imperfect data. Use the recommendations as part of an integrated
decision-making process – and make sure common sense is a big part of
With each tool we provide links to practice
management consultants who can help guide you if your practice needs
professional, customized attention.