One valuable technique for assessing the environment in which you practice is BENCHMARKING. To determine performance over time and in the context of peers, a medical practice must compare itself to known standards. Benchmarking is a process that uses an internal and external frame of reference to evaluate performance. Through internal benchmarking, the practice learns which of its providers excel and which need motivation, which functions it performs well and which need adjustment. External benchmarking enables a practice to learn how better-performing groups achieve their success - and how much better those organizations may be.

Benchmarking enables you to:

• Evaluate
• Observe
• Analyze
• Determine
• Change

The simplest kind of benchmarking is internal, derived from your own data. In order to benchmark, you need to determine what is critical to your success. External benchmarking against other similar practices allows you to know where your practice stands regionally and nationally. You can learn how competitive you are, where your practice is strong and where it needs improvement. To learn more about key economic indicators for benchmarking financial, operational, clinical, individual physician and environmental, please contact Asterino & Associates, Inc.

In addition, other practice management services include, but are not limited to, the following:

• Litigation Support
• Pension Planning and Design
• Forecasting
• Economic Modeling
• Cash Management and Budgeting
• Marketing
• Human Resource Management
• Complete Accounting Services
• Web Site Design
• Commercial Insurance
• Medical Malpractice Insurance