To give users an overview of Key Performance Indicators (KPIs) and their purpose, so that the correct KPIs are tracked for each practice, and the results are properly utilized.
KPI is an abbreviation for “Key Performance Indicator”. It is a statistic that measures the performance in achieving key objectives, such as general office and specific job productivity.
All successful businesses use KPIs to monitor all areas of their organization. Without KPIs, a business is running blind. It would be like driving a car without any gauges such as a speedometer, gas gauge, temperature gauge, etc. You wouldn’t want to drive a car without knowing how fast you were going, or how much fuel you had left, would you? That would be a dangerous way to drive!
Similarly, you'd be “running blind” if the practice operated without monitoring the appropriate KPIs. Both you and your supervisor would become dependent on the opinions and guesswork of others, rather than factual statistics.
This can result in ineffective management and a lack of practice expansion, as well as upsets between management and staff.
Your Three Must-Dos:
1. Ensure that the KPIs used for each staff member honestly measure that role's productivity.
2. Regularly post the metrics to graphs (minimally monthly) using the ePM Diagnostics module.
3. Study the trends that you see after graphing your KPIs and take appropriate action!