Aspect #3: Patient Satisfaction

Although patient satisfaction may not be the first thing you think of when you consider the financial success of your practice, the truth is that it is critical. Satisfied patients are more likely to return, more likely to refer other patients to you, and more likely to pay promptly.

Benchmarking your patients' satisfaction is a two-fold process. First, you need to get information from your patients. Creating short surveys for them to complete is one method. While this is the most affordable choice, it does not always generate the largest number or most accurate results. Working with a professional organization is generally a better option. Together, you can come up with a method of surveying your patients about their satisfaction. Second, you'll need to compare your results to some type of average.

Organizations, such as the Idaho-based Medical Management, do exist which collect patient satisfaction data from around the country, then compare your information to that data. In most cases, you'd receive a report showing how your practice stacks up.

Bottom Line

In the end, benchmarking these and other aspects of your practice is important because it gives you a method of determining whether you're on the right track or not. Just as taking a patient's temperature or reading an X-ray can give you clues to the health of a patient, comparing important aspects of your practice to national or even local norms can help you determine the overall health of your practice.

Of course, it's never enough just to know how well or how poorly you stack up. You also must be prepared to take that information and use it to make changes in how you run your practice – so that your next comparisons will show significant improvement.

Resources Used in Article

Fine Tune Your Financial Practice (Medical Economics)

Where Can I Find Benchmark Data? (Physicians Practice)

MGMA Practice Data and Surveys

Build a Stronger Bottom Line (Physicians Practice)

Staff Management (Physicians Practice)

The Survey Says (Physicians Practice)

 

About the Author

Amy Jorgensen is a freelance writer based in southern Indiana. Her articles have appeared in a variety of publications, including Southern California Physician magazine.

The author has no financial relationship to any of the companies listed in the article.

Topics #medical practice #physician practice #practice benchmarking