Many practice owners have clear goals in mind, but don’t know how to properly measure the success of their operations. Analytics uses factual information to help you increase profitability and efficiency. At Quantum Leap, analytics is an integral aspect of our consulting and training services.
In most cases, owners measure the success of their practice by the amount of money in their bank account. For example, if there is a profit once all expenses have been paid, it’s considered a victory. While this may be true, this only measures what has already happened. Learning how to predict growth through historical data helps you identify areas for advancement.
Rather than measure success exclusively by past events, analytics allows us to see how your practice is performing in real time. This is significant because it allows for prompt course correction. We also use analytics to identify historical data. We can then use that information to help us understand which lead indicators have contributed to your lag measure.
Once we’ve identified the data, what do we do with it? First, we can use the information to develop revenue KPIs and a supporting logic tree. Next, we can pinpoint the demands and capacity measurements of the future.Most importantly, we incorporate analytics into our training and consulting. Once the lead indicators have been determined, a customized approach to training is created to influence behaviors that deliver the results we want.
To learn more about how analytics can drive success in your practice,
schedule a free consultation with one of our consultants.