KPI Benchmarking Program
PPS is pleased to announce the launch of the PPS KPI Benchmarking Program. Beginning in November 2018, the first 350 PPS members to apply* will be eligible to submit their practice KPI data to be analyzed in the 2019 KPI Benchmarking Study. Data will be collected beginning in February 2019. In April 2019, all participants will receive a detailed individual report as well as an aggregate report that breaks down their KPI metrics by practice size, region of the country, and care model. Most importantly, the reports will paint a clear picture of how your KPI metrics stack up against similar practices in your region and nationwide.
* Current Peer2Peer Networks Participants need not apply; the KPI Benchmarking Program is included in your Peer2Peer membership.
Frequently Asked Questions
Key performance indicators (KPIs) are quantifiable measures of an activity critical to the success of an organization. These indicators are the vital signs of an organization and become the focus of performance improvement initiatives. Goals for KPIs can be directional (increase/decrease) and/or can be benchmarked against best practices in a particular industry to measure success and track improvement.
Participants in this initial offering will input data from their 2018 calendar year. KPIs benchmarked include visits/new patient, arrival rate, visits/FTE, cost/visit, revenue per visit, and net income.
Utilizing a secure third party administrator to collect, blind, scrub, and provide reporting is essential to ensuring the integrity of the data collected and avoiding any potential conflicts of interest. The information shared in the PPS KPI Benchmarking Program is collected and managed by Vault Consulting, a data analytics company that protects and blinds the information.
Given the need to have "like data" for useful comparisons, this initial offering is for all PPS members who have a practice where the majority of their care is delivered in a brick and mortar clinic and insurance is the primary mode of payment. Specialty practices (e.g., pediatrics, woman's health) that meet the above criteria are welcome to participate.
Once you have signed up, you will receive a confirmation email that you have been accepted. Beginning in February 2019, you will receive an email from PPS partner Vault Consulting with the link to the portal to enter your practice data. The deadline to enter your data is March 15. Final reports will be available to participants by April 15.
See the links on this page to the free PPS Video on Operations 101 and the KPI definitions. Additional consultative help will be available to participants once the data collection portal opens in February 2019.