Benchmarking.

It can be difficult to know whether your practice is functioning efficiently. One tool that can help evaluate your practice's efficiency is called "benchmarking." Businesses use benchmarking to establish performance assessment parameters; they then compare their findings with those of a larger group of similar businesses. Benchmarking is one of the foundations of continuous quality improvement.

A variety of benchmarking parameters can be obtained from a network of otolaryngologists integrated software built on Windows architecture and designed to provide real-time Web-based reporting (figure). Using an Application Services Provider model, a geographically diverse group of specialists can compare the business patterns of an individual practice with those of an entire group of practices. Likewise, a physician in a group pratice can benchmark his or her individual performance against that of the other physicians in the group. The larger the number of physicians participating in the network, the more meaningful the comparisons.

Note the bottom line of data in the figure, which shows a comparison of the percentage of cash collected at the time of service by one physician and that collected by the database members as a whole. Benchmarking reveals that the index physician (base client) does a much better job of collecting copayments and balances than does his or her colleagues on average (7.37 vs 2.15%). (1) Such a physician should reward his or her staff for their performance and share his or her collection advice with the rest of the group. If data should reveal that a physician is below average in collections, a new policy or a new employee might be indicated.

Reference

(1.) Isenberg SF. Emphasize collection of copays while the patient is still in the office. Ear Nose Throat J 2003;82:758.