There are a number of key metrics that the practice owner and manager need to track, understand and regularly. Metrics or indicators can be categorized as leading or lagging. Just as you can't drive to work with your eyes only on the rearview mirror, you can't drive your business forward by focusing on the past. Lagging indicators such as revenue and profit are important, however once they are calculated; it is too late to change them. We also need to look at the trends of leading indicators to determine where those important lagging indicators are heading.
Learning Objectives:
Upon completion of this course, you will be able to
Interpret common financial statements, including the balance sheet, income statement and statement ofcash flows.
Analyze metrics used to manage the operations of a PT practice.
Develop and manage a physical therapy practice budget.
