Discover why high-performing private practices track both quantitative and qualitative KPIs to improve efficiency, patient outcomes, and staff retention—and how to build a dashboard that actually drives action.
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Episode 34
A 2023 Gartner report revealed that businesses using a mix of quantitative and qualitative KPIs improve operational efficiency by 20%, with 58% of healthcare leaders noting better patient outcomes. Most practices focus exclusively on the numbers — but the practices that thrive measure both what can be counted and what truly counts.
Quantitative KPIs are measurable numeric values: net profitability, total people expense as a % of revenue, patient acquisition cost, average revenue per appointment, claims approved on first pass. Qualitative KPIs measure characteristics and quality: employee retention average tenure, patient satisfaction scores, percentage of patients who complete their plan of care, word-of-mouth referral rate, five-star Google reviews per month.
Brandon's insight: even qualitative goals must be quantified. Employee retention is a qualitative priority — but when you measure the average tenure across your team, you've now made it quantifiable and actionable.
Brandon shares a pediatric speech therapy practice that was struggling with client retention, therapist efficiency, and parent satisfaction. After implementing a mixed-method KPI approach using their EMR and QuickBooks: session attendance improved from 75% to 88% in 6 months, 80% of clients showed measurable progress gains, revenue per therapist increased 12%, and client retention rose to 85%. Therapist turnover dropped 50% after reducing case loads and adding peer supervision. Administrative costs fell 10% through process streamlining.
Brandon recommends a visual dashboard that displays only your most critical KPIs — like a car's fuel gauge, not a spreadsheet. Keep it to a single screen. Organize by frequency: daily, weekly, monthly, quarterly views. Include at minimum: revenue vs. projections, arrivals and no-shows, outstanding documentation, and patient satisfaction trends. As Peter Drucker said: what gets measured gets managed.
