Keep your finger on the pulse of your practice and make evidence-based business decisions.
As a health professional, you know how important it is to have accurate, timely, up-to-date information to enable you to make evidence-based decisions for your patients and clients. You also understand how important it is to have this data presented to you in a manner that’s clear and easy to understand so you can interpret quickly and take action.
But did you realise these very same criteria apply to making decisions for your healthcare practice?
Every healthcare business owner needs to be able to answer fundamental questions about their practice.
Are you really making money? If so, how much? Or are you going broke, slowly?
Are your costs spiralling out of control?
Is that new piece of equipment you invested in, really paying for itself as you expected it would?
Are you losing patients or worse still, good staff?
Are the policies and procedures in place, helping your business and underpinning efficiency?
If you don’t have timely and accurate answers to these questions, your practice, like your patients, could be at risk of not surviving into the future.
While there are many traditional ways to help you try and answer these questions, they often fall down due to a number of issues.
Too late – many financial reporting systems report on a monthly or, even worse, a quarterly basis. This lack of frequency and delay can mean you miss rapidly emerging issues in a fast-changing environment, plus hide important issues in your practice that you’re not even aware of. Then you’ve missed the chance to address them before they take hold.
Lack of clarity – many financial reporting systems use jargon and methods they don’t teach you as part of your Uni degree, leaving a lot of health professionals unsure about what the figures and reports are actually trying to say.
Gaps in the data – some reporting systems are too narrowly focused, looking only at the financial data without reporting on factors that influence those figures. This includes things like trends in new patient numbers or existing patients dropping off, potential major HR issues, satisfaction rankings and much, much more. All of these can have a direct impact on your bottom line, but you won’t be able to see it if these factors are not being recorded and reported to you.
This is where Pulse Reporting is different.
Instead of waiting for monthly or quarterly reports, Pulse Reporting provides you all the information you need – weekly, fortnightly, monthly – on a frequency that’s appropriate to the metric and enables you to act in time.
And with Pulse Reporting you don’t just get the data, you also receive detailed analysis and the specific steps you need to take to address challenges before they grow into major problems, or capitalise on opportunities before the time is lost.
It’s all conveniently delivered to your inbox.
Of course, we know that no two practices are exactly the same, so we completely customise the content of your Pulse reports, to suit your needs, then modify the inclusions as these needs change.
To find out more about how Pulse Reporting can help you, see details of the Pulse Packages, then use the form to get in touch and get your finger on the pulse of your business today.
