Marketing Analysis Starts with Accumulating Monthly Data

William R. Pupkis, CMPE, Healthcare Consultant

marketinganalysisI advise practices to produce monthly financial reports to review progress towards goals and depict trends – good or bad, as either can be helpful. These reports should also contain non-financial data that show doctors and managers how things generally stand.

The following is the sort of data that can be easily collected and used to help you make decisions such as expanding your services, adding a doctor, etc.

  • Number of patients seen
  • Number of new patients seen
  • Number of referrals received, by referral source
  • Major surgical procedures performed
  • Minor surgical procedures performed

One cannot confidently structure a practice or properly target promotional efforts without knowing the practice’s status. Consider the old adage, “did you fail to plan, or is your plan failing?” Marketing starts with research and analysis.

"match numbers with your plan"

Record those numbers most relevant to your practice on a monthly basis.  By monitoring these numbers over a period of months/years, you will begin to observe trends. If you have taken the time to set some goals and build a plan (see “Focusing on Your Future”), match those numbers with your plan to gauge your practice’s performance.

With careful monitoring of your practice’s on-going performance, changes can be better considered and evaluated. The appropriate information items for your practice, both for the month and year-to-date, can be recorded and tracked in a simple spreadsheet. This simplifies data entry and analysis. Just as with the manager’s weekly summary (see Use a Weekly Summary to Keep Informed and Up-to-Date), this information automatically becomes a comparative report that can assist you in making informed decisions for your practice.

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This entry was posted on Wednesday, January 29th, 2014 at 6:13 pm and is filed under Practice Management. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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