AAO Presentation Template American Academy of Ophthalmology by alicejenny

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									 AAO & AAOE
Benchmarking
   Survey
     ~~
What is a Benchmark?

 A standard used to measure how we are doing
 A measure of practice efficiency
 In many cases it is a ratio of two data elements
 First step is to define the preferred benchmarks
 Second step is to determine which data points are needed to
  create the benchmark
How can benchmarks help
us?

 Diagnose operational challenges
 Find possible prescriptions
 Confirm the effects of the changes you make in
  your practice
What is the appropriate way
to use a benchmark?


 Use several related benchmarks to understand and
  diagnose practice problems
 Make sure to compare apples to apples
   • Similar type of practice
   • Same calculation method
What is the appropriate way
to use a benchmark?
1. Download the interpretation guidelines on the
   reporting page (after your data has been
   approved)
2. Review national benchmarks, but emphasize
   comparison to your own practice over time
3. Compare to:
      •   This month in your practice vs. same month
          last year
      •   Year-to-date in your practice vs. last year-to-
          date
Why Participate?

 In the face of the Baby Boomer onslaught you need to make
  sure you are operating efficiently in comparison to your
  peers.
 Survey has been designed to ensure the privacy and security
  of the data you submit - Review Academy Terms of
  Service & Privacy Policy (PDF 60K) for details.
 The greater the participation, the more specific the reporting
  functions.
 Statistically reliable and comprehensive data will help the
  Academy in its advocacy endeavors.
Why Participate?
 Quick: Most practice report data collection takes
  less than 2 hours
 Accurate: Through an anonymous review process,
  we are approving data so as to avoid erroneous
  data skewing the results.
 Safe: Only aggregate data from multiple practices
  will be displayed; no users will ever be able to view
  the data sets of an individual practice.
Why Participate?
 Only members who contribute their practice data
  will be able to run reports to compare their
  practice to other practices.
 The Benchmarking Survey Database is FREE to
  members.
 Members who do not will only receive a summary
  of the aggregate results but they can’t run reports.
Eligibility
  The survey is only open to private ophthalmology practices
 The following practice models are excluded at this time:
  Integrated Delivery System (IDS)
  Hospitals
  Independent Practice Association (IPA)
  Freestanding ambulatory surgery centers
  Management Services Organization (MSO)
  Medical school facility practice plans
  Physician Practice Management Company (PPMC)
  Medical school clinical science departments
Three Steps to Participating



 1. Registration
 2. Data collection
 3. Reporting
Step 1: Register Your
Practice

 During the registration process, participants will be asked to
   • enter demographic information about your practice
   • identify the primary data respondent for your practice
   • to enter their practice’s Tax ID number (to create a
     unique benchmarking log in)
 After registering, the primary data respondent will receive
  the benchmarking log-in at the email address provided
Tips:


 Only one respondent will be designated per
  practice
 Before registering, decide who will be the
  designated respondent for your practice
Step 2: Collect and Enter
Data
1. Review the definitions carefully
2. You may need to ask your accountant to collect
   some of the data
3. Enter your data: You can save and return to
   complete your data entry
4. Check your data carefully before submitting as
   final
5. Submit data as final
Required Data Elements


 37 Separate data elements
 8 Additional data elements for the optical section
  (if applicable)
You will need:


 employee and physician census information and
  annual payroll information
 patient encounters data
 profit & loss statement
 optical dispensing data (if applicable), including
  unit sales and financial data.
Data Entry Screen
Generated Benchmarks
 34 Benchmarks will be produced by the survey in seven
  practice areas
 An additional 10 Benchmarks will be produced if your
  practice participates in the Optical Section of the survey
Once you enter your data you
will get benchmarks for your
practice immediately.
Section 1 Benchmarks:
Financial receipts & Income
 Professional clinical collections per FTE Ophthalmologist
  (MD/DO)
 Professional clinical collections per FTE Optometrist (OD)
 Clinical Revenue per encounter for Ophthalmologist
  (MD/DO)
 Clinical Revenue per encounter for Optometrist (OD)
 Practice Net Collections per FTE staff member
 Practice Net Collections per FTE billing office staffer
Section 2 Benchmarks:
Financial Costs & Expenses
 Clinical Operating Expenses per encounter by entire practice
 Non MD/DO/OD Clinical Staff (back office) cost per encounter
 Front office staff cost per encounter
 Total staff wage and benefit cost as a % of net collections
 Total front office wage and benefit cost as a % of net collections
 Total Billing Staff wage and benefit cost as a % of net collections
 Total Non-MD/DO/OD Clinical wage and benefit cost as a % of net
  collections
Section 3 Benchmarks:
  Staffing Levels

 # FTE Optometrist per FTE Ophthalmologist
 # FTE front office staff per FTE MD/DO/OD
 # FTE non MD/DO/OD clinical staff per FTE
  MD/DO/OD
 # FTE staff per FTE MD/OD
 # FTE staff per FTE MD/DO/OD
Section 4: Accounts
Receivable Management

 Total Days A/R Clinical Outstanding
 Percentage Clinical A/R in "Current" Percentage
  A/R in "30-59 days"
 Percentage Clinical A/R in "60-89 days"
 Percentage Clinical A/R in "90-119 days"
 Percentage Clinical A/R in "+120 days"
Section 5: Throughput &
Productivity
 Total encounters per FTE Ophthalmologist
  (MD/DO)
 Total encounters per FTE Optometrist (OD)
 New patient encounters as a % of total encounters
  by entire practice
 Encounters per FTE MD/DO/OD Clinical Staff
 Encounters per FTE Front Office Staff
Section 6: Facility

 Total facility cost as a % of total net collections
Section 7: Bottom Line
 Net clinical compensation per FTE Ophthalmologist
 Net clinical compensation per FTE Optometrist
 Net clinical compensation per FTE owner
Section 8: Optical
Benchmarks
 Optical collections per FTE MD/OD
 Optical collections per FTE Optician
 Optical collections per practice encounter
 Optical cost of goods sold as % of Net Optical
  Collections
 Optical Operating Expenses as % of Net Optical
  Collections
8. Optical Benchmarks cont.

 Optical Rx capture rate
 Average revenue per sale
 Average cost per sale
 Average net profit per sale
 Total optical net profit or loss
Data Review
   7 – 10 days after your data has been submitted it will be
    anonymously reviewed for anomalies
    • the reviewer does not have access to any of your
       demographic information, only the raw data
   Should there by any questions about your data
    • An email will be sent to the authorized submitter
       through a blind delivery process.
    • At this point, you will need to return to the survey to
       correct any errors.
    • Resubmit as final
   Once again, your data will be reviewed.
   Note: you will not have access to the reporting tools until
    you have been notified your data has been approved
Data Approval
• Once your data is approved, you will receive an email with
a link to the reporting page

• We recommend that you compare your benchmark
against the median for that benchmark.
Reporting Screen Page
A number of filters are available:

 Practice type
 Number of MDs
 Number of ODs       Note: When using filters, we
                      will only show data where
 Number of Offices   we have 15 or more
                      responses that match the
 Subspecialty        filter criteria
 Metropolitan Area
 Region
Use filters for customized
reporting
Schedule
2009 fiscal data will be accepted until June 30,
2010.
For more information or to
participate


Visit www.aao.org/benchmarking
Email: benchmarking @aao.org

								
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