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Achieving business success requires tracking your performance, but getting your team to see the importance of measuring stats can be challenging. With KDR Solutions as your partner, you can learn the mindset and framework for measuring KPIs that can lead to business growth.
To start, educate your team on the concept of continuous growth. Help them understand that focusing on the business's bottom line is necessary to provide exceptional patient care. You can't have a mission without margins. By being transparent and honest about these concepts, you build trust and empower them to think about their roles differently.
Furthermore, convey to your team that "when you measure it, it improves." Measuring something leads to increased awareness and finding ways to elevate and improve it. It's a concept that impacts personal life as well. For example, you're more likely to achieve your fitness goals if you track your progress.
Now, let's talk about what to measure. This brings us to the importance of KPIs. Key Performance Indicators are the things that you measure in your practice that directly point to how well you're doing or what areas you're growing in. It can be financial indicators like total comprehensive exams in a month, products sold in a month, capture rate, average daily billing, etc.
When you first start measuring, it'll likely be specific to financial indicators. Over time, your team will get used to the concept of measuring, and they'll start measuring themselves in areas like average time to check in a patient, average time to work up a patient, and average time to check out a patient. They'll see it as an opportunity to learn, improve and grow.
It's crucial to emphasize to your team that tracking is a tool for growth and not for punishment. When you talk about it more and more, they'll understand that. Initially, you want to tell them so they understand the true intent.
Tracking KPIs is essential for business growth. It helps you identify areas of improvement and celebrate victories. By educating your team on the importance of continuous growth, conveying the concept of "when you measure it, it improves," and identifying KPIs, you're setting your team up for success.
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