Medical Practice: Measuring Doc Productivity

Last week I got an email from a faithful reader of PediatricInc (which I appreciate very much). He had a question regarding physician productivity; specifically what was a good way to report it.

He was looking for a quick view or snapshot of how well (or not) a doc was doing in terms of production. He mentioned that his PM system gave him all kinds of reports, but he was looking for one report that he could glance at, and know where each physician of his practice stood from a financial perspective.

We talked a little bit about what he would like to see on the sheet. I asked him, when you said “physician productivity” how do you define that? I asked if he put more emphasis on gross billing, RVU’s or net receivables. I also asked how productivity bonuses were paid out in his practice.

After learning more about what he was looking for, I shared with him an Excel sheet that I use to gauge how well a doc is doing in terms of production goals. Click link below for details.

Of course, each practice does things differently. For example, a practice may put more emphasis on RVU’s.  Others may focus more on physician work hours. If that is the case, this sheet doesn’t work. But the faithful reader’s management philosophy put emphasis on the things listed on the sheet . So the sheet worked out for him.

What do you use to measure a doc’s productivity? I’d love to see, hear, read what other practice use.

Editorial Note: WordPress, the company that host my blog, doesn’t host Excel files (I don’t know why). Therefore, I couldn’t upload the Excel example. But if you’d like the actual Excel sheet with formulas and all, I’d be happy to send it to you. Just shoot me a note by going to the “contact” area on this blog.

2 thoughts on “Medical Practice: Measuring Doc Productivity”

  1. Ken,

    Sounds like you have a system that has worked well. Thanks for sharing.

    I find physician compensation fascinating. I don’t know if there are other professions that require such a complex system to compensate workers.

    Regardless of what system a practice uses, at the end of the day, more money has to come in than go out. And that should always be the goal.

    Brandon

  2. We have chosen purely based on charges. Our fee schedule is RVU based so calculation comes very similar to report based on total RVU. We don’t count labs or vaccines in calculation. Turns out to fairly closely match hours worked as most providers see about same number and complexity of patients per hour. Does allow for rewarding those providers that code higher and see higher complexity patients as well as see more per hour. To even out swings in income form vacations we use average of previous 6 months. Has worked for us for over 10 years.

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