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Benchmarking

Customized reports and expert advice to help you make better business decisions.

In today’s evolving health care environment, it’s vital to make intelligent business decisions. At BSM Consulting, we help dermatology, ophthalmology, plastic surgery, and aesthetic medicine practices make smart business decisions by performing benchmarking — a process where we determine your practice’s relevant financial and operational indicators and compare them to others in the same industry.  

Once you decide to engage with BSM, our seasoned consultants will run comprehensive financial analyses to evaluate your practice’s overall efficiency, productivity, and competitiveness. Afterwards, they’ll walk you through the results, pinpointing specific areas where you can grow revenue, maximize expense spend, and increase profitability. Clients have found our benchmarking service especially helpful when analyzing new business opportunities such as hiring new providers, opening new locations, and developing a strategic business plan.

Without our expert knowledge and benchmarking tools, it can be difficult for practices to compare themselves against similar businesses and remain competitive in today’s market. Using BSM’s services to gather reliable and accurate data will help ensure you’re making intelligent, thoughtful business choices and producing desirable results for your practice.

Andrew Maller explains the benefits of Benchmarking

Increase profitability and efficiency with financial benchmarking.

  • Evaluate key operating metrics that impact efficiency and profitability
  • Assess current performance by comparing it to historical data and industry standards
  • Identify market trends and changes
  • Uncover opportunities to maximize provider productivity
  • Evaluate staffing levels by department
  • Assess performance of billing functions and overall revenue cycle management
  • Leverage relevant data to evaluate business planning options and make better decisions

Partner with BSM to access the following benchmarking data:

  • Provider productivity related to revenue, patient visits, and surgical volume
  • Operating efficiency and expense management
  • Revenue cycle management metrics related to billing and collections efficiency
  • Standard staffing levels by department
  • Compensation for providers and staff

Let BSM help your team achieve your practice’s goals.

Benchmarking focuses on practices continually improving performance by streamlining workflow processes and enhancing physician and staff productivity. To aid in this process, BSM offers multiple online human resource tools and membership programs that your entire practice can readily access to help support your internal goals.

Employee Satisfaction Survey

This online tool provides a vehicle to effectively collect anonymous employee feedback on the issues that matter most to them (e.g., staffing levels, compensation, and operating efficiency within the practice). This information will allow you to identify common themes, build a realistic action plan, and implement necessary changes to keep your staff satisfied.

Let’s set up an initial complimentary consultation.

Since every engagement is unique, it can be helpful to talk things through. Take advantage of a complimentary consultation with a member of our financial management team so we can work together to build a scope of work tailored specifically for your needs.

Read what our clients are saying. 

"BSM has made a significant difference to our Practice by helping us fine-tune our business plan to achieve our goals. Their vast practice management resources have helped me run the Practice lean and more efficiently and have simplified my life by eliminating the need to start from scratch. We have worked together to successfully recruit our latest physician. They have always delivered timely and professionally."

Trish Daniels, Adminstrator
Riverside Eye Center