Every practice is different – your patients have unique wants and needs. If you are able to provide the services they require, you will be able to optimise your clinical and financial outcomes.
In a service industry, success depends on knowing your customers and understanding the financial drivers of your business.
A recent study identified the main reasons why people chose a GP or practice – Care quality, Services provided, Availability, Cost including time and financial cost, and Practice Facilities such as telephone answering, reception staff welcoming, waiting room, and parking availability.
There is a business axiom that to manage something you must be able to measure it! Also, Clinimetrix is able to measure your practice’s performance on most of these parameters!
Supporting optimal clinical care
From the clinical perspective, Clinimetrix can identify the long-term chronic diseases that you are seeing regularly and help you monitor your practice’s performance.
For instance, how many people in your practice are diagnosed with diabetes – Ausdiab has estimated that 7.5% of people over the age of 25 have diabetes and 23.6% of people aged 75 and over have diabetes. Obesity and physical inactivity increase the likelihood of diabetes.
For every known case of diabetes, Ausdiab estimated that there is one undiagnosed case.
Clinimetrix can help you identify people in your practice at high risk and those who have been tested for diabetes but the result has not been followed up.
Enhancing profitability
From a financial perspective, knowing the mix of private and bulk billing, the number of services you have provided, the average patient bill (APB) and the cost of providing a patient service are crucial metrics.
Monitoring your practice’s financial markers for the last 3 years will help you predict whether the trend will be upward or downward in the next 2 years.
Clinimetrix – the data base management tool – can provide this information (and much more) in a few minutes.
Knowing the financial trend may be the stimulus for you to improve the services you currently offer or shape the services you could offer.
What more can you do?
You may want to look at opportunities to provide more after-hours or minor trauma services, counselling, management of obesity, diabetes or cardiovascular risk screening clinics, mother and baby clinics, skin cancer or minor cosmetic services.
You can certainly see the lost opportunities for enhancing clinical care and practice profitability if health assessments, care plans or medication reviews are passed over.
You may discover that some services are costing more to provide than you charge! Great for a charity but not a business!
Clinimetrix is an essential business management tool for the complexity of General Practice today, helping you understand the financial and clinical performance of your business.
It extracts the information from your patient management software in just a few minutes each morning.
See how to use Clinimetrix to generate reports for your practice by joining the members area here at https://www.clinimetrix.com.au/members-only.