Financial benchmarking seeks to measure how the medical practice organizational

Question

Financial benchmarking seeks to measure how the medical practice organizational performance and how it stacks up against competitors and where it does not. The end result should be where to focus your efforts. On page 241 of the textbook; the discussion centers around 6 useful areas.

Use each question as a HEADING in your assignment. Discuss each question separately.

1. What will or are you benchmarking in your practice?

2. Why is it important?

3. What knowledge will you gain?

4. How will you use this information to improve the practice performance?

MINIMUM 500 WORDS

Explanation / Answer

1. What will or are you benchmarking in your practice?

Ans. The following can be benchmarked in the practice:

2. Why is it important?

Ans. It is important because:

3. What knowledge will you gain?

Ans. The knowledge that can be gained:

4. How will you use this information to improve the practice performance?

Ans. The information obtained can be used to conduct the following things:

Obtained information can be used to conduct a site visit.

Information can be used to apply the learnings to performance gaps.

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