I am excited to be working on a new report that we will be sending to all OPIE Plus customers who have the OPIE Business Intelligence tools available to them. As these reports take shape, there is a lot of discovery that has to take place. Our goal is to create something that helps business owners ask the right questions and see where there may be opportunities to improve profitability, efficiency, or overall business health. We have a decade of work behind our framework with knowledge gained from over a hundred different O&P practices working on the same challenges to arrive at an optimal “best practice solution.”
We learned early on that size matters. The systems, processes, and resources available can be radically different among O&P practices. We have analyzed millions of data points from OPIE customers to identify groups of companies with similar profiles that we could group together to provide meaningful comparisons of operational data. Through this process we were able to create five distinct peer groups that we now use for benchmarking.
As we think about company health, one indicator is how effective we are at attracting new patients. But in order to answer that question you have to know what is reasonable. What’s realistic? What can we do to influence the number? Should we spend more time trying to increase the number of new patients that come into the practice, or would we be better off focusing on a different aspect of our business? I do not think there is one thing that you have to get right. I think there are many things that have to work well, and like the “spinning plate” analogy, you have to keep everything in balance. You know what matters to you based on your organizational goals. If, for instance, business growth is a goal, then you may want to see your new patient count getting bigger each month. But maybe you are happy with your patient volume. You need a steady state to maintain your book of business so you might want your new patients to be consistent over time. Not too many, not too few. Or what if you are trying to emphasize your prosthetic business…then you may want growth in the number of new prosthetic patients and a steady sate or even a decreasing number of new orthotic patients.
If your OPIE system is hosted by OPIE Software, you are considered an “OPIE Plus” customer. You have a dedicated Customer Success Manager who is here to help you navigate the data and the BI tools. You can reach them here. They will make sure you are set up for data and eligible to get this new report.
In addition to the new patient information, we will be looking at a new metric called the “Clean WIP Score.” This score will allow you to dig into the biggest challenges to moving a patient through your system from intake to delivery and highlight opportunities to improve your patient flow.
I look forward to getting this report into production and out to you!