Surgical Information Systems Chief Nursing Officer Ann Geier, RN, shared nine of the most important financial metrics to track and the gold standards for each:
1. EBITDA
Less than $3 million net revenue: 12.8 percent
Greater than $9 million net revenue: 37.3 percent
2. Case volume
Industry average: 19.4 cases per day
Average: 4.4 surgical cases per operating room per day (number of cases will vary based on case mix)
3. Efficiency/throughput
Turnover time: Less than 7 minutes for short routine cases (e.g., cataracts, GI, pain management)
Turnover time: Less than 10 minutes for equipment-intensive cases and those with complicated setups (e.g., spine, shoulder arthroscopies)
4. Collections
Denial rates: Less than 5 percent, ideally 1 to 2 percent
5. Accounts receivable days
Less than 30 days
6. Accounts receivable current
Amount current should be 72 percent
7. Supplies
Drugs and medical supplies: $456
Supplies as percent of collections: 21.6 percent
8. Payroll
Staffing cost per case: $426.02
Staffing as percent of collections: 23.5 percent
Mean hours per case: 14.4 hours, including nurses, technicians and administrative staff
9. Patient satisfaction surveys
Rate of return: 34 percent
Scores: High 90s
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