Benchmarking Your Medical Practice

Topics:
Performance Management,
Strategic Management Tools
Tags:
Benchmarking
Source:
EzineArticles.com

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Overview: Benchmarking comes in two forms: internal and external. Internal benchmarking is the process of comparing the current state of one's practice against historical performance. Internal benchmarking can also help create progressive goals towards longer term objectives as bottlenecks, unnecessary expenses, etc., are defined. External benchmarking compares one's practice against the performance of others in the same industry and/or specialty. External benchmarking can offer a window into general competitor performance as a way of seeing how effectively others perform similar tasks. Through external benchmarking, practices can see not only how they stack up, but also where they specifically fall short.

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Format: HTML | Date: Feb 2006 | Pages: 4

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