KPI Benchmarking Program
Measuring, benchmarking, and responding to key performance indicators (KPIs) are essential to the long-term success of any business. In 2016, as part of the PPS Peer2Peer NetWorks program, PPS developed a method for collecting and benchmarking key performance indicators. Now in its fourth year, the PPS KPI Benchmarking Program is open to all PPS members. Data will be collected beginning in February 2020. In April, 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 participants’ KPI metrics stack up against similar practices in each region and nationwide. Participants must submit their own data to receive the summary report.
* 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 will input data from the 2019 calendar year. KPIs benchmarked include: number of visits per new patient; arrival rate; visits per full-time equivalent employees (FTEs); cost per 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, women'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, you will receive an email from PPS partner Vault Consulting with the link to the portal to enter your practice data. Data will be due by mid-March. Final reports will be available to participants by mid-April. Because the success of the study is dependent upon participants to input their data and build an adequate sample size, members must submit their individual practice data to receive the aggregate report.
See the links on this page to the free PPS Operations 101 video series and the KPI definitions. Additional consultative help will be available to participants once the data collection portal opens in February.