In this episode of the Grow Your Practice podcast, Chad Madden, owner of Madden Physical Therapy and Breakthrough, discusses the importance of establishing metrics and Key Performance Indicators (KPIs) for every role in a private practice. Chad explains the definitions and difference between accountability, responsibility, and authority, and shares insights on how metrics and KPIs can improve management decisions and practice efficiency. He also emphasizes the necessity of having staff own their metrics and be accountable for their areas of production. Tune in to learn best practices for creating an accountability chart and setting up key metrics for each department in your practice.
Download the FREE 35 Private Practice Marketing System Checklist going through all five new patient pathways, reactivations, word of mouth referral. Physician or professional licensed referral, partner referrals, and then cold traffic marketing:
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00:00 Introduction to the Podcast
00:19 Understanding Metrics and KPIs
01:03 Defining Accountability
02:31 Importance of Metrics and KPIs
09:59 Stages of Tracking Metrics
11:26 Staff Ownership and Reporting
14:10 Handling Overwhelmed PTs
16:01 Complex Systems and Metrics
17:11 Marketing System Overview
17:21 New Patient Pathways
17:42 Download the Marketing Checklist
17:50 Building Confidence in Your Clinic
18:05 Global Experience and Success
18:18 Free Marketing System Checklist
18:32 Accounts Receivable Management
19:13 Staff Meeting Reports
20:30 Tangible Metrics and Accountability
22:21 Self-Limiting Beliefs in Tracking Metrics
22:52 Establishing Metrics and KPIs
23:17 Connecting Metrics to Overall Practice
29:20 Finance and Expense Tracking
31:13 Monthly Snapshot and Profitability
33:35 External Marketing and New Patients
34:00 Production and Therapist Involvement
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