In this episode, I explain the various key performance indicators (KPIs) that I suggest a cash-based practice owner should be focusing on. I’ll cover exactly which metrics are important to understand for each area of business as well as for practices at different developmental stages. You’ll also hear how to put all that data to use to improve your decision making.
This “highlight” is taken from Q&A calls with my Mastermind Gold group—a highly interactive, supportive group where people who have tons of questions and concerns about how to start, grow, or transition to a cash-based private practice get the answers, resources, and confidence they need to build the practice of their dreams. We have a group coaching call every week, and we occasionally use excerpts of those calls for this podcast.
More specifically, we discuss these cash-based practice topics:
- Why I think you can skip tracking many of the KPIs that are commonly suggested for a private practice.
- Which specific KPIs are truly meaningful in a cash-based practice and why.
- How you can apply your lifetime plan of care numbers to make decisions on pricing and promotions.
- The simple math you can use to predict how full your schedule will be down the road.
- An easy trick for using key performance indicators to optimize your use of the time when you aren’t seeing patients.