How to Use a Performance Scorecard at Your Healthcare Practice
Although your goal should always be to provide the best patient care available, it’s good to keep in mind that your practice is still a business at the end of the day. As with any business, it’s important to monitor your progress and make sure you’re meeting both your key performance metrics and your patients’ needs. A performance scorecard is one great way to keep track of your successes and areas of improvement, so here’s what to know about it and how it can help.
If you’re a private healthcare practice owner or manager, you likely have many different responsibilities. It’s easy to get caught up in the day-to-day needs of your practice, but having both short- and long-term goals is integral. It’s important to have goals that are SMART (specific, measurable, achievable, relevant, and time-bound) as well as a way to track them. A practice scorecard is the best way to measure, track, and strategize your key performance indicators (KPIs). In short, it can give you valuable data with which to make better decisions and investments in your business.
Some KPIs will be more meaningful than others, although this can depend on your specific practice’s needs. Here are a few important KPIs to add to your scorecard to track patient behavior and whether your practice is meeting their needs.
It’s essential to know where your patients are coming from when they call, inquire online, or text your practice. Are they a new patient or a returning one? How did they discover your practice? This information can help guide and track your marketing efforts, especially with the help of an industry-leading customer relationship management (CRM) system.
Conversion rate is the frequency with which patients book an appointment or purchase services after locating your website. If you have many prospective patients visiting your website but very few booking appointments or services, it can be an indicator that something is wrong – for example, your website is unappealing or the booking process comes with too much hassle. Tracking conversion rate and making appropriate adjustments can ensure you never lose out on potential customers.
In our digital age, your website represents your practice just as much as your actual location. Performance indicators like site speed, visitors, and demographics can show you where your site’s strengths and weaknesses lie. This data can help you make decisions about updating your site’s content, SEO, and design to draw more potential patients to your site and eventually your practice.
If your patients can’t find your website, they likely won’t find your practice. It’s essential to be able to measure your standing in the digital world so you can improve it and your chances at meeting potential patients. Make sure you have a good understanding of your target keywords and how they relate to the services you provide so you don’t waste time and budget optimizing for highly-competitive or irrelevant keywords.
Patient reviews can be very important to your potential patients’ conversion process. In fact, most patients don’t even consider practices with a rating lower than 4 out of 5 stars. Make sure to monitor your online reputation on sites like RealSelf or Google Business Profile – and implement a reviewing system for your existing patients so they have a quick and easy way to leave reviews on your site.
The easiest way to track your KPIs is through an all-in-one platform like DLM Insight. This essential tool can integrate with your website and provide real-time metrics like ROI and conversion rate to help you make informed decisions. It can also provide CRM and EMR functions to help you make the most out of your marketing investment with our team. Make sure to ask your marketing specialist for a demonstration of our industry-leading platform.
Hitting your goals and growing your business is a team effort. At DLM, we offer intuitive and game-changing tools to help your practice succeed and thrive, along with our knowledgeable and experienced team. Ready to learn more? Give us a call or fill out our online contact form to get started.