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The same dynamics that promote performance also support learning and behavioral change. – Katzenbach & Smith

Services

Benchmarking and Trending Reports allow practices to see their own progress and compare themselves against the MedAxiom database.

Customized Business Reports

The Need For Data

Cardiology practices need solid data to make the right operational decisions, optimize resources, continuously improve performance and develop a strategy for the future. Objective, measurable information doesn’t lie. It is a crucial indicator of your performance, and evaluating that data is essential to the successful management of your practice.

The MedAxiom cardiology database is the most extensive—and only—one of its kind in the entire industry. It’s been developed by some of the leading cardiology groups in the country. The benchmarking and trending data measure success and failure and give you insight into vital performance-improvement opportunities.

Benchmarking

Benchmarking your practice’s performance against your peers is an incredibly important process for any practice. Peter Drucker once said, “Managing your business without benchmarking is like trying to fly an airplane with one wing.” MedAxiom provides benchmarking tools to assist you in all areas of your practice.

Our Annual Benchmarking Survey provides benchmarks for virtually all areas of your practice. The nearly 300 data points are graphically represented in terms of current year benchmarks and trends over the past 10 years. Almost all data points are reported per physician FTE to facilitate comparisons between groups of different sizes. Data points cover procedure volumes, E&M coding distribution, revenue, overhead, physician compensation, staffing, expenses, RVU production, physician call, aged A/R, payer mix and others. Many of the data points are used to create ratios for further comparisons.

Departmental reports, such as the Nuclear, Echo and Cath Lab surveys provide some of the drill-down data you need to manage the resource-intensive areas of the practice. Without benchmarking, how do you know if you are managing the throughput in your noninvasive labs? These surveys look at procedure volume, revenue, cost and profit per camera, per physician, per tech and per procedure. Groups that assumed they were very productive have been surprised to find significant room for improvement once they examined their performance compared to others.

We also offer a Salary Survey for all positions in the practice and a Benefits Survey to help you manage your human resources. Additionally, ad hoc surveys are performed using a web-based tool to address questions that arise throughout the year.

Our reports use your data to provide you with a customized analysis of how well your practice is doing on nearly 300 measures. These detailed and customized reports are the key practice-management tools in determining everything from appropriate staffing ratios to expected ROI on product lines and services. Creating these reports on your own would cost tens of thousands of dollars—that’s if you even had access to the data. Our database and custom-report generation can save you thousands of dollars and months of your valuable time. And it delivers all the information you need to be successful.

Customized Report Content

The Tables of Contents below show you the remarkable metrics you can have benchmarked and sent to you on an annual basis or accessed on demand with MedAxcess

  • Table of Contents - MedAxiom "Book 1 - Procedure Metrics"
  • Table of Contents - MedAxiom "Book 2 - Business Metrics"
  • MedAxiom Annual Survey
  • MedAxiom Specialty Reports

MedAxiom specialty reports give you a deeper look into your departments, procedures, and human resources.

  • Nuclear
  • Echo
  • Cath Lab
  • Information Systems
  • Salary
  • Employee Benefits
  • Executive Director Compensation