KNOW HOW | Tracking, Analytics, and Relevance—Oh My!

By Dawn Hulthen Koncsol

This article is a part of the May/June 2019, Volume 31, Number 3,  Audiology Today issue.

I recently was talking to a long-time co-worker and friend in a leadership position in a health-care office who commented, “What is this KPI stuff everyone keeps talking about?” I had to pause a moment to consider that someone in a significant position in health care would not understand what that is and why she should care. I began to poll colleagues, friends, professionals, and externs, and found that the majority had no clue what I was referencing. I was quite taken aback.

The ability to have good tracking data and analytics, in the age of the Merit Incentive Payment System (MIPS), is a necessity and not optional. The MIPS is a new payment mechanism that will provide annual updates to physicians starting in 2019, based on performance in four categories: (1) quality, (2) resource use, (3) clinical practice improvement activities, and (4) meaningful use of an electronic health record system (U.S. Department of Health and Human Services, 2019).

In 2019, audiologists will be counted among the professionals in which this applies. All of these areas will require supportive data to participate and validate information.

What Does KPI Mean? 

Key performance indicators or a KPI is a measurable value that demonstrates how effectively a company is achieving key business objectives. There can be many types of tracking and values. The key is to know what values and data are relevant for your practice. The other significant piece relates to the company and department objectives (Mauboussin, 2012).

I know, I know; we are audiologists. This does not preclude us from being quite capable of running a business, knowing our practice, and making meaningful decisions with data from the clinical side and the business side. It is the most ethical thing you can do to ensure your business will be open for many years to serve your patients. Being the expert in your department and field makes you own a seat at the decision table with your company. It allows for ownership of future growth, expansion, clinical needs, equipment, staff, compensation, and marketing to improve and grow.