Five Reports and a Dashboard: Review this Data Every Month
Healio ⋅ Orthopedics Today – July 2017
by Cheyenne Brinson, MBA, CPA
Running a practice without looking at financial reports is like diagnosing a patient without checking blood pressure or ordering blood work: Chances are, you are going to miss something important. Truth is, it is impossible to identify or make sound business decisions without first looking at some data.
Practice management systems spit out a dizzying array of reports. But for busy physicians and managers, reviewing these five reports is like taking a practice’s vital signs every month. If things look good, you are healthy. If something is off, it is time to investigate. Aim to review these five reports by the 7th of the month, for the previous month’s data.