The Magic Metrics!
By Paul Martin, PT, MPT, CBI, M&AMI
A lot of rehabilitation companies have matured to a point where they are developing and utilizing operations, and even financial budgets. And while you can achieve great results by putting these tools into practice, in our experience the best way to generate a strong bottom line is to have your therapist focused on just a few of the “magic” metrics (in addition to providing great clinical care!). The metrics that we see create the most change in the financial condition of a company (and therefore are considered magical) are
- Visits per new patient
- Cash/revenue per visit
- Units per visit
- Visits per therapist per hour/day
And while the specific number for each of these metrics will vary from market to market, what we find is that making small positive corrections in these metrics will have a huge impact on your bottom line. In fact, we have seen in larger companies that we work with that positively impacting one or two of these metrics can result in a six-figure increase to their bottom line!
Paul Martin, PT, MPT, CBI, M&AMI, president of Martin Healthcare Advisors, is a nationally recognized expert on health care business development and succession planning. As a consultant, mentor, and speaker, Paul assists business owners with building value in their companies. He has authored The Ultimate Success Guide, numerous industry articles, and weekly Friday Morning Moments. He can be reached at pmartin@martinhealthcareadvisors.com.