Medical Practice KPI Dashboards

How Do You Compare?

To make smart decisions, your leaders need the right information – and fast. Do you have clear and reliable reports that show how your practice is doing compared to last year, your goals, your competition and your industry peers? Key Performance Indicators (KPIs) are used by administrators, executives and physicians to evaluate performance in specific areas. Measuring performance, making comparisons and acting on opportunities are all vital to the success of your medical practice.

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Annette Dunn | Manager, Healthcare
Lead, Follow or Get Out of the Way!
When used correctly, medical practice KPI dashboards can help you lead discussions in management meetings, help you summarize and follow important metrics in your revenue cycle, and get unprofitable or inefficient operations out of your way.

Monthly Financial Dashboards

A practice’s financial statements are the starting point for any financial KPI dashboard. Your revenue, operating expenses and profit or loss should be compared to prior periods and your budget to help judge the viability of the organization or a specific goal. How do your numbers compare to industry benchmarks, averages or top-performers

Additionally, accounts receivable is an important metric. Take special consideration of the percentage of accounts receivable that is over 90 days. Knowing your payer mix and identifying any shifts are also keys to anticipating future cash flow. Comparing charges, receipts and contractual adjustments to previous months and years helps identify any seasonality that may occur in the practice.

Accounts Receivable

Monthly Clinical Dashboards

Evaluating physician productivity is a fundamental indicator that should be reviewed monthly. Comparing practice and individual work relative value units by month can help you understand fluctuations in cash receipts.

Using national benchmarks for comparison will help identify potential capacity issues. Many physician compensation programs are based on productivity, so measuring monthly and providing the data to the physicians eliminates much of the surprise that may come after the compensation is calculated.

Monthly wRVU by Provider (Compared to MGMA Median)

Put Your KPI Dashboards Into Action

Even a simple one-page dashboard can help identify areas of opportunity in a timely, relative and actionable manner. Use this to compare your clinic to others in your regional marketplace and specialty area. With simple yet sophisticated KPI dashboards, your management team can easily spot trends, address changes that need to be made and ultimately drive better profitability in your medical practice.

Where To Begin? That's Where We Come In.

The Lurie healthcare team has the experience and expertise in designing KPI Dashboards that make complex data about your practice readily accessible. We guide you through all phases of design, linking your software, testing and usage training so your KPI reports are fast, accurate and easy to understand. Create powerful new conversations for better strategic planning and financial management.

Healthcare Advisory Services

360 Degree Services

When used correctly, medical practice KPI dashboards can help you lead discussions in management meetings, help you summarize and follow important metrics in your revenue cycle, and get unprofitable or inefficient operations out of your way.

One of the biggest challenge facing physician practices is staying independent. In order to overcome it, medical practice leaders must pay attention to payer contracts. But all too often, practices accept these contracts as-is. Our goal is to help you understand if you are getting the best deal possible – and what to do if you’re not.

Healthcare organizations need world-class executives, and access to a deep pool of successful leaders is a crucial ingredient to the continuation and expansion of organizational missions. Lurie’s healthcare team takes a comprehensive approach to talent acquisition and recruitment and we pride ourselves on our ability to match the world’s best healthcare organizations with the world’s best leaders.

Lurie’s healthcare team reviews and interprets complex clinical data and ensures it is in compliance with  the myriad of related and complicated regulations. Our professional’s in depth experience with clinical data analysis enables us to help our clients overcome challenges and provide unparalleled service.

In order to operate most effectively, healthcare organizations require expertly maintained cash flow and budgeting analyses. Your practice’s cash flow is what determines its ability to achieve growth. Lurie’s healthcare team can adeptly manage the finances of healthcare organizations at any scale.

The valuation of the medical practices is strongly tied to the quality of the electronic medical records (EMR) system and how closely it matches the documentation requirements for Medicare, Medicaid, and private payors, as well as its privacy, cybersecurity, and business records. 

Collecting from patients has long been a challenge for medical practices. Given the current popularity of high-deductible plans, many practices are seeing accounts receivable balances stay on the books longer than ever before. Approaching this issue through the lens of revenue cycle management may provide a remedy.

Your Lurie Advisors are uniquely qualified to provide HITRUST services. Certified by the HITRUST organization – a prerequisite for delivering these services to you – advisors highly experienced in cybersecurity issues are dedicated to creating the most appropriate framework for you. With your goals and concerns as guidance we investigate risks and provide cost-effective solutions.

Telemedicine—which affords greater access to necessary health services, while maintaining reasonable costs. As telemedicine agreements increase in complexity, the potential for regulatory scrutiny will also increase. Lurie’s experienced, hands-on healthcare team delivers valuation opinions and advice to a broad range of healthcare entities. 

Meet your team
Lurie’s healthcare team has a wealth of expertise to serve the unique needs of you and your practice.

Chris Schultz

Partner, Healthcare Practice Group

Libby Hornibrook

Partner, Healthcare Practice Group​

Stacie Usem

Partner, Healthcare Practice Group​

Timothy Schmidt

Partner, Healthcare Practice Group​

Wendy Frame

Partner, Retirement Plan Consulting

Annette Dunn

Manager, Healthcare Practice Group

Rhoda Beaird

Manager, Healthcare Practice Group

Erica Martinez

Senior Associate, Healthcare Practice Group

Noah Vannevel

Senior Associate, Healthcare Practice Group

Barbara VanBenthuysen

Client Service Coordinator, Healthcare Practice Group

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