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- Webinar Recording: Financial and Productivity Benchmarking for Outpatient Physical and Hand Therapy
Webinar Recording: Financial and Productivity Benchmarking for Outpatient Physical and Hand TherapyDescriptionRecorded February 2, 2023
How does your physical and hand therapy practice compare to better performing outpatient orthopedic therapy practices?
Using data from over 1 million therapy visits during 2022, we will share benchmarks (averages from better-performing practices) for the following key provider productivity and financial measures with a focus on relevant differences from 2019-2021 to help you plan for 2022:
• Procedures and wRVUs per provider work hour
• Procedures and wRVUs per patient visit
• Visits per hour and day per provider
• Visits per patient
• Initial evaluations per FTE provider week
• Payments per procedure and per wRVU
• Payments per visit
• Payments per provider work hour
• Gross compensation per wRVU and visit
• Profit margin
We will also answer the following questions:
• How did 2021 compare to 2019 and 2020 in terms of referrals, visits, provider procedures per work hour, provider visits per day and other metrics?
• Which therapy-specific metrics are the most relevant indicators of productivity and profitability and what should your targets be?
• How do your individual providers and practice compare to similar practices?
• How can you use these benchmarks to help gauge quality of care and patient satisfaction?
• How can you use these benchmarks to determine whether you are under or over staffed?
• What are reasonable expectations for new patients and visits per month per provider?
• How can you use this benchmark information to improve your practice?
• What are the comparable benchmarks for hand therapy?
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