6 Metrics to Track in Your Allied Health Practice

Here are six Key Performance Indicators (KPIs) to focus on:

KPI #1: Attendance Rates

Attendance rates: The ratio of scheduled appointments to actual attendance. A higher attendance rate indicates strong engagement between practitioners and clients, whereas a lower rate might signal issues for further investigation.

No-shows and late cancellations: These metrics reflect potential revenue loss and could indicate underlying problems in client engagement or administrative processes.

KPI #2: Aged Receivables

While various financial metrics deserve attention, aged receivables are a critical indicator of a practice’s financial health.

Aged receivables represent the amounts owed to the practice that haven’t been paid within the standard payment terms. Typically, these receivables are classified into segments such as current, 30, 60, or 90 days past due.

KPI #3: Treatment Progress

Monitoring treatment progress allows you to understand the efficacy of therapeutic interventions and make adjustments to impact the client’s journey toward recovery.

A well-structured approach to tracking treatment progress using standardised outcome measures is essential for practices aiming to deliver superior care. Here, practice management software with features like online forms becomes an invaluable asset, facilitating seamless data collection directly from clients.

KPI #4: Client Satisfaction

Monitoring client satisfaction helps maintain high-quality care and helps healthcare practices run smoothly.

By using practice management software to gather feedback as part of your routine, you can work to improve client satisfaction, boosting your practice’s reputation and financial health.

KPI #5: Referral Revenue

Referral revenue is a crucial metric for allied health practices, where client referrals from other healthcare professionals have a significant impact.

Referral revenue is more than a financial metric; it reflects a practice’s reputation and professional relationships within the healthcare community.

KPI #6: Client Retention Rate

Client retention is gauged by the number of clients who continue to seek services compared to the number of new clients. By tracking the average number of sessions alongside client retention rates, practices can glean invaluable insights into treatment efficacy and client engagement.

Becoming a metrics-driven practice enables better client care and operational efficiency. Practice management software like Power Diary supports this process by offering streamlined data collection and reports for informed decision-making so practice owners have the insights they need to achieve their goals. Start your 14-day Free Trial today – no credit card required!

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