Monthly Performance Spreadsheet

I track daily activity on the Daily Productivity Tracking Sheet. At the end of each month, I update information on a second spreadsheet, the Monthly Performance Spreadsheet. The Monthly Performance Spreadsheet has three parts: Practice Summary, Provider Summary and Expenses.

Download the Monthly Performance Spreadsheet (Excel)

The Practice Summary for the spreadsheet tracks month-to-month productivity measures, such as patient visits, revenue and expenses.

The red arrows highlight some of the data I find useful, including patients-per-day (PPD), payment-per-patient (PPP) and, of course, receipts by revenue stream. The three-month average are helpful to smooth monthly variations and to spot irregularities. Our EMR, for example, does revenue cycle management, (our billing). Their monthly reports vary from the in-office reports due to some time issues and adjustments. Over time, however, the difference between in-office and the EMR is nominal.

The PPP in our office is calculated for insurance payments (FFS Receipts) and all receipts (Total PPP). This is invaluable to see the impact Functional Medicine revenue and supplements have on each office visit.

The second part of the spreadsheet is the Provider Summary. The provider summary tracks much of the same data specific to each provider.

Tracking the providers Gross Revenue, Direct Revenue and Net Revenue allows for flexibility in compensating providers. Providers may be paid a base salary (Compensation) and then bonused on Net Revenue, which takes into account their direct expenses and the attributed expenses of the practice.

The third and final part of the spreadsheet is an Expenses Tab, (the previous two spreadsheets are on a Revenue Tab, with the Provider Summaries underneath the Practice Summary). The Expenses sheet is pretty much as expected. It is helpful to use the same categories for expenses as a practice’s accounting software to make data entry easier. A budget should be used to enter the Projected expenses by Category, then each month and year-to-date values can be compared to the budgeted expenses.