Using Key Performance Indicators to Do More with Less in Your Practice

Abstract

Key performance indicators (KPIs) are important to managing any sustainable business. This tutorial provides audiologists, especially those with little formal business education, with a working definition of KPIs. A major theme of this article is that a relatively small group of about a dozen KPIs are an essential part of managing a successful audiology practice. The most useful KPIs for managing retail-oriented and medically oriented practices will be provided. Best practice benchmarks and how to use them to hire, coach, and train your staff also is covered.

Keywords

Key performance indicators - benchmarks - conversion rate - practice management - office culture - gross margin - net revenue - hearing aid units sold - average selling price - effective management

• References

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