Data Is King: Why Benchmarking Is Critical for Your Practice

Data Is King: Why Benchmarking Is Critical for Your Practice

“Measurement is the first step that leads to control and eventually to improvement.”

— H. James Harrington

Data is the lifeline of any medical practice.

Without it, your quality of care suffers and falls behind others. 

Pertinent  robust non-clinical performance data collection is a key element in enhancing medical practice excellence. Benchmarked operational data allows you to identify your individual practice strengths and  areas in need of improvement. It allows practice administrators and executives to reward top performers and empowers providers to correct bad behaviors.

For medical practices, patient satisfaction survey data reveals the answer to key questions:

  • Are you providing the level of patient experience and patient satisfaction you strive for?
  • How does your level of care compare to your peers?

The most valuable data comes directly from patients. To ensure the best data possible, patient feedback should:

  • Be collected in real-time
  • Have large sample sizes—the more data collected, the more you can trust the results. Outliers occur, but large sample sizes limit the impact of outliers.
  • Be structured—it allows for better statistical analysis, comparison, and benchmarking.

With a repository of high quality data, it then becomes a simple process to analyze and improve.

What is benchmarking and why is it important?

Benchmarking is the practice of comparing the performance of your medical practice and providers to your peers.

Benchmarking allows you to identify very specific areas in need of improvement.

There are multiple levels of benchmarking: 

  1. Benchmarking within your practice between individual providers to promote healthy competition. rater8 does this with its Dashboard Reporting and Verified Review Pages. Our Verified Review Pages provide physician benchmarking, which makes them highly aware of where they stand with their colleagues—this data objectively reveals how a physician can improve her ratings and reinforces the qualities that promote excellent ratings.    
  2. Benchmarking within your practice between individual locations. Certain questions like “Staff Friendliness,” “Office Cleanliness,” and “Check-In Experience” are best measured and analyzed by office location. One rater8 client noted “Some of our staff across different locations are stronger, and others weaker. rater8 data helped confirm suspicions about weaker employees and quantify performance issues so to address and/or improve patient satisfaction and staff friendliness.”
  3. Benchmarking your practice with others. When benchmarking your practice with others, it’s important to compare your practice to similar ones. For example, if you’re an orthopedic practice with 30 doctors who participate in the OrthoForum, then you want to compare yourself to other OrthoForum practices.

Why is rater8’s benchmarking data the best?

  • Survey data is captured in real-time. As soon as patients check out, they receive an automated text or email asking them to rate their provider. Feedback is fresh in their minds.
  • Feedback is anonymous, so patients feel comfortable providing honest feedback.
  • Surveys are short and a small number of questions are chosen at random for each survey from a large bank of 25 questions. Patients are turned off by long, overly complex surveys. rater8 limits its surveys to no more than 5 questions, resulting in industry leading high survey completion rates. Also, since rater8’s surveys are known by patients to be short and easy to complete, we get valuable feedback from patients even with follow-up visits. 
  • We achieve a 27% response rate! This means that more patients’ voices are being heard.
  • Data volume. rater8 has sent over 3 million surveys to patients and has collected a robust set of benchmarkable data.
  • All rater8 data is structured, which allows for easy and meaningful benchmarking and analysis.

The above graphic looks at the most popular questions rater8 clients choose to ask patients ranked by average star rating.

The rater8 is the reputation management industry leader in  benchmarking data for the thousands of our clients nationwide (maybe click here for the list of these clients or just to view Verified Review Pages again).  It has enabled these medical practices to have data-driven conversations within your practice and enact real, positive improvements in patient satisfaction, leading to excellent online reputation and referrals.

How does your practice compare to the rater8 benchmark? Do you want access to our benchmarking data? If you are ready to explore the benfefits of rater 8 reputation management and gold standard benchmarking data, click here and we will get you set up quickly and effortlessly.

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