Setting key performance indicators (KPIs) for key members of the team in a medical practice is fundamental in helping to drive the success of the practice and employees alike. It would be safe to assume if your employees succeed in their role, the practice also succeeds.
When looking to set any kind of KPI it is important to make sure they are SMART.
The use of SMART goals in setting KPIs helps in assessing their relevance and effectiveness.
Specific – is the objective clear?
Measurable – can you measure the progress and / or outcome?
Achievable – is the goal realistic?
Relevant – is the goal relevant to the role and needs of the business?
Timely – is there a clearly defined timeline?
When setting KPIs for employees it is not a one size fits all approach. Success will be measured differently at all levels and in all roles within a medical practice. For example; an accomplished nurse in a practice will not be measured on the same set of KPIs as that of staff member operating the front desk.
Effective KPIs ensure critical monitoring of an employee; sets expectations of both the employee and the practice; measures customer satisfaction and individual objectives.
Following are a few examples of what SMART KPIs may look like for key roles in a medical practice.
Monitoring of practice expenses - monitoring of practice overheads against monthly budgeting
Staff training time - time spent each month working with and developing the skills of junior staff members
Patient Wait Time - Looking at average time a patient must wait between patient arriving and being seen by a nurse.
Assessments completed - Number of health assessments / care plans completed in one week / month
Inbound phone call answer time - Phone calls are answered within a certain number of rings
Patient satisfaction when first arriving at practice - Negative patient feedback on initial interaction is kept to a minimum
KPI's are critical to help guide an employee through what success looks like in their specific role as well as helping them understand the practice’s goals more broadly.
A motivated and empowered employee will play a vital role in any well performing medical practice.