Blog post from Practicelab.com.au
The PractiseLab website has some interesting blog posts on running an Allied Health practise and some of the key indicators and measurable KPI's you can use to measure the health and progress of your practise:
"There are some goal categories that most people would see as universally applied to all business. For example, a goal relating to profit or a goal that relates to debt to equity ratios. However, in an allied health business there are some goals that apply in a more specific way. That is to say that allied health businesses have a mix of generic goals and allied health specific goals"
For an overview of 3 of the key goals and indicators to measure (1 NEW CLIENT VOLUME, 2 RETENTION, 3 AVERAGE SESSION RATE) see:
There is also some other excellent blogs posts with more detailed information here:
AVERAGE SESSION RATE
"Average session rate is one of the key measures of private practice performance. It represents the average dollar value of each session – I.e., How much your sessions cost on average, based on the sessions you have actually conducted.
This is an important figure to know for the following reasons:
It helps you to track performance of yourself and your contractors.
It helps when doing quick (and more accurate) financial calculations as you can use the average session rate figure as your session fee.
It can help you understand the gaps in your practice operations (e.g., Perhaps you’re seeing too many clients in a certain fee bracket).
Using your analyses, you can distribute your session types more effectively"