Surgical KPIs for refractive surgery practices
Patient Satisfaction Score (aka 20/happy)
Patient satisfaction score reflects the level of satisfaction and happiness among patients who have undergone refractive surgery.
It measures various factors, including pre-operative care, surgical experience, post-operative care, and overall outcomes.
By collecting patient feedback through surveys or online reviews, practice owners can assess the quality of patient care and identify areas for improvement.
The results can be measured by calculating an average patient satisfaction score based on the responses received. Consistently monitoring this metric allows practice owners to make data-driven decisions to enhance patient satisfaction, ultimately improving the practice’s reputation and attracting more patients.
Number of Procedures Performed
The number of procedures performed measures the volume of refractive surgeries conducted by the practice.
Tracking this metric is vital for assessing the practice’s productivity and revenue generation.
Practice owners can measure this metric by recording the total number of surgeries performed within a specific period.
Regular monitoring allows owners to identify trends, optimize scheduling and resource allocation, and track the impact of marketing efforts on procedure volume.
Surgical outcomes assess the success rate and effectiveness of refractive surgeries performed by the practice.
It measures factors such as visual acuity improvement, complication rates, and patient satisfaction with the surgical results.
Practice owners can measure surgical outcomes by analyzing post-operative data, patient feedback, and conducting follow-up evaluations.
Tracking surgical outcomes allows owners to evaluate the quality of care provided, identify areas for improvement, and ensure patient safety and satisfaction.
Surgical complications measure the occurrence of adverse events or complications during or after refractive surgeries.
Tracking this metric is crucial for patient safety, quality assurance, and risk management.
Practice owners can measure surgical complications by recording and analyzing data on post-operative complications, adverse events, or patient reports.
Regular monitoring of this metric allows owners to identify patterns, evaluate surgical techniques, implement corrective actions, and enhance patient safety protocols.
Number (or %) of Enhancements
The number or percentage of enhancements measures the volume or percentage of additional procedures or adjustments performed to optimize visual outcomes for patients who have undergone refractive surgery.
Tracking this metric helps practice owners assess the effectiveness of surgical procedures and patient satisfaction.
Practice owners can measure the number of enhancements by recording the total number of follow-up procedures or adjustments conducted.
Analyzing this metric allows owners to evaluate surgical techniques, patient counseling, and long-term satisfaction rates.
Now let’s turn our gaze toward clinical KPIs.
Clinical KPIs for refractive surgery practices
Follow-up Compliance Rate
The follow-up compliance rate measures the percentage of patients who adhere to recommended post-operative follow-up appointments.
This metric is crucial for monitoring patient engagement and ensuring proper healing and recovery.
Practice owners can track this metric by comparing the number of scheduled follow-up appointments with the number of completed appointments.
A high compliance rate indicates effective patient communication and engagement, while a low rate may indicate potential issues in patient education or satisfaction.
Practice owners can take actions to improve the compliance rate, such as enhancing patient education materials, optimizing appointment scheduling, and implementing reminder systems.
Surgeon productivity quantifies the efficiency and effectiveness of individual surgeons within the practice.
It measures factors such as the number of surgeries performed, surgical outcomes, patient satisfaction, and time utilization.
Practice owners can track surgeon productivity by analyzing surgical volumes, patient outcomes, and feedback.
This metric helps identify high-performing surgeons, areas for improvement, and opportunities for further training or support.
Patient Wait Time
I know I mentioned this in the admin section, but clinicians should also own this KPI. Patient wait time measures the time patients spend waiting for their appointments or procedures. The clinic team, for example, could own “Total cycle time from appointment time to checkout”.
Minimizing patient wait time is crucial for enhancing patient satisfaction and optimizing practice efficiency.
Practice owners can measure this metric by recording the time from a patient’s scheduled appointment to the time they are seen by a healthcare provider.
Regularly monitoring patient wait time helps identify bottlenecks, streamline processes, and improve patient flow.
Again, another KPI that can also be owned by the clinical team is patient satisfaction. Patient satisfaction is a comprehensive measure of how satisfied patients are with their overall experience at the practice.
It encompasses various aspects, including pre-operative care, communication, surgical outcomes, post-operative care, and customer service.
Practice owners can measure patient satisfaction through surveys, feedback forms, or online reviews.
Analyzing patient satisfaction scores helps identify strengths, weaknesses, and areas for improvement.
By focusing on patient satisfaction, practice owners can enhance the reputation of the practice and attract new patients through positive word-of-mouth.
NPS (Net Promoter Score)
NPS measures the likelihood of patients recommending the practice to others. It is a key indicator of patient loyalty and satisfaction. Another way to look at this is “Percentage of patients arising from patient referrals”.
Practice owners can calculate NPS by conducting patient surveys and asking patients to rate, on a scale of 0-10, how likely they are to recommend the practice to others.
Based on their responses, patients are categorized as promoters, passives, or detractors. The NPS is calculated by subtracting the percentage of detractors from the percentage of promoters.
Monitoring NPS helps owners assess patient loyalty, identify areas for improvement, and drive patient referrals.
And now for the final department I’d like to cover, let’s look at Sales and marketing KPIs.
Sales and marketing KPIs for refractive surgery practices
Number of Assessments
The number of assessments measures the volume of patients evaluated for refractive surgery.
Tracking this metric helps practice owners understand the demand for their services and the effectiveness of marketing efforts.
Practice owners can measure the number of assessments by counting the total number of patients who undergo the evaluation process.
Monitoring this metric over time can provide insights into trends and help optimize marketing strategies to attract more potential patients to the practice.
Booked revenue represents the total revenue generated from scheduled refractive surgeries.
Tracking this metric helps practice owners evaluate the financial health of the practice and forecast future revenue.
Owners can measure booked revenue by summing up the expected revenue from confirmed surgeries.
Monitoring this metric provides insights into revenue trends, the impact of marketing initiatives, and the effectiveness of the scheduling process.
Remaining pipeline refers to the number of prospective patients in the practice’s sales pipeline who have not yet undergone refractive surgery.
Monitoring this metric helps practice owners gauge future revenue potential and forecast patient volumes.
Practice owners can measure the remaining pipeline by tracking the number of patients who have completed assessments, but have not yet scheduled their surgeries.
Regularly assessing the remaining pipeline allows owners to implement targeted marketing and follow-up strategies to convert prospects into patients.
Average Revenue per Patient
This metric helps practice owners assess the financial performance and profitability of the practice.
Owners can measure average revenue per patient by dividing the total revenue generated by the total number of patients served within a specific period.
Tracking this metric allows owners to identify trends, evaluate the effectiveness of pricing strategies, and target high-value patient segments.
Sales velocity measures the speed at which leads are converted into paying patients or surgeries. It helps practice owners evaluate the efficiency and effectiveness of their sales and marketing efforts.
You can calculate your sales velocity by multiplying the number of opportunities in your pipeline by dollar/pound/euro value of your average deal size and your win rate. Divide the result by the number of days in your typical sales cycle.
Analyzing sales velocity allows owners to identify bottlenecks, optimize the sales process, and allocate resources effectively to accelerate revenue growth.
Tracking and analyzing these key metrics in a refractive surgery practice provide valuable insights into various aspects of the business, including employee satisfaction, patient experience, operational efficiency, financial performance, and growth potential.
By regularly monitoring these metrics and taking appropriate actions based on the results, practice owners can enhance patient satisfaction, optimize resource allocation, improve operational processes, drive revenue growth, and ensure the long-term success of their refractive surgery practice.