Physical Therapy Practice Management | Monthly Health Check: Is Red bad?
As part of your physical therapy software and practice management solution, every month your SPOC has a Monthly Health Check (MHC) with you. These are designed to review the Key Performance Indicators (KPI) and Metrics that most attribute to the success of your physical therapy practice. It also gives us time to review the opportunities that are present and renew our goals for your practice.
When we show these KPI in the form of a radar graph to clients we immediately hear two questions:
- What does all the red mean?
- What does all the green mean?
The answer to the first question is simple. The red area is a graphical display of the goals we have established for your physical therapy practice.
So, does this mean that red is bad? No.
Red is the center of the bulls-eye that we are trying to fill to optimize the success of your practice. The goal of all the red is to fill it with as much green as possible, then redefine your physical therapy practice goals to increase the amount of red that you see. This will continuously drive your practice forward to new levels of success.
The answer to the second question “What does all the green mean?” is a little more complex.
The green is a combination of two things. First, it takes into account the trend that your physical therapy practice has been showing over the last year in working toward your goal. This means that is you are trending toward your goal more green will be filled, if you are trending away from your goal, less. The second part of the green is the average of the last three months and how close to your goal you are. If your goal is 100 visits and for the last three months you have averaged 75 visits you will see more green to be filled. If you have averaged 30 visits then less green will be filled.
What do you do when there is only green and no red? This tells you that it is time to adjust your goals! You have accomplished what you have originally set out to improve by partnering with bestPT and our practice management program and service. Remember, the individual KPI and metrics can be changed independently of each other.
Watch this short video about the Practice Health Monitor:
Your SPOC can help you define new goals during the MHC to continue to enhance the success of your physical therapy practice and your bottom line.
