How to Establish Metrics & KPIs for Every Position in Your Practice

In this episode of the Grow Your Practice podcast, Chad Madden, owner of Madden Physical Therapy and Breakthrough, discusses the importance of establishing metrics and Key Performance Indicators (KPIs) for every role in a private practice. Chad explains the definitions and difference between accountability, responsibility, and authority, and shares insights on how metrics and KPIs can improve management decisions and practice efficiency. He also emphasizes the necessity of having staff own their metrics and be accountable for their areas of production. Tune in to learn best practices for creating an accountability chart and setting up key metrics for each department in your practice.

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00:00 Introduction to the Podcast

00:19 Understanding Metrics and KPIs

01:03 Defining Accountability

02:31 Importance of Metrics and KPIs

09:59 Stages of Tracking Metrics

11:26 Staff Ownership and Reporting

14:10 Handling Overwhelmed PTs

16:01 Complex Systems and Metrics

17:11 Marketing System Overview

17:21 New Patient Pathways

17:42 Download the Marketing Checklist

17:50 Building Confidence in Your Clinic

18:05 Global Experience and Success

18:18 Free Marketing System Checklist

18:32 Accounts Receivable Management

19:13 Staff Meeting Reports

20:30 Tangible Metrics and Accountability

22:21 Self-Limiting Beliefs in Tracking Metrics

22:52 Establishing Metrics and KPIs

23:17 Connecting Metrics to Overall Practice

29:20 Finance and Expense Tracking

31:13 Monthly Snapshot and Profitability

33:35 External Marketing and New Patients

34:00 Production and Therapist Involvement