Lets talk a little about Benchmarking.

Benchmarking is the process of comparing one's business processes and performance metrics to industry bests or best practices from other industries. Dimensions typically measured are quality, time and cost. In the process of benchmarking, management identifies the best firms in their industry, or in another industry where similar processes exist, and compare the results and processes of those studied (the "targets") to one's own results and processes. In this way, they learn how well the targets perform and, more importantly, the business processes that explain why these firms are successful.

What are some ways benchmarking can help your practice?  Benchmarking can help you with operational statistics, financial or staffing statistics, in goal setting and with overall practice improvements. 

Benchmarking can be the dashboard for all your financial/ operational/performance indicators to show your physicians how you are doing within your practice or in comparison to other practices.  

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Have a great weekend!