Benchmarking is a system used to determine the performance of a Practice based on a pre determined set of metrics.
These metrics use formulated indicators that can then be used to determine the performance of a Practice based on the average performance of its peers.
These Benchmarks are typically in the form of statistical data averages collected over years of monitoring.
The statistical Benchmark metrics typically taken into account are:
Years the Practice has been in business
Quality and Volume of Production
Viability of the Practice
Using Benchmarking metrics a Consultant can quickly and accurately analyze and assess the performance of a Practice is in reference to where it is and where its ideal performance should be.
Benchmarking reveals what improvements are needed, and most importantly, how to implement those improvements.
Related Benchmarking LinksWe offer several complimentary benchmarking services to assist you.
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