Financial Benchmarking

Increase profitability and efficiency with financial benchmarking.

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Customized reports and expert advice to help you make better business decisions.

In today's evolving health care environment, it's vital to make intelligent and disciplined business decisions. BSM Consulting helps ophthalmology, aesthetic, dermatology, and plastic surgery practices, and ambulatory surgery centers (ASCs) in this process by performing comprehensive benchmarking assessments — a process where one of our experienced consultants will conduct an in-depth analysis of your business, looking at various financial, productivity, and efficiency key performance indicators and compare them to others in the same industry.

Once the analysis is complete, they will walk you through the results, pinpointing specific areas to increase physician productivity, right-size staffing levels, improve efficiency, and grow the bottom line. Clients have found our benchmarking service especially helpful when analyzing new business opportunities such as hiring new providers, opening new locations, and developing a strategic business plan.

Using BSM's services to gather reliable and accurate data will ensure you're making thoughtful business choices and producing desirable results for your practice.

Provider PRoductivity

Our assessment provides a detailed review of provider productivity metrics related to revenue, patient visits, and surgical volume compared to similar specialties. Your consultant will provide tangible recommendations on ways to maximize productivity and grow the business.

Operating Efficiency

Managing overhead and expenses is one of the most important aspects of generating revenue and can make or break the profitability of the practice. Our analysis will look at key expense categories compared to industry benchmarks in order to provide tangible recommendations to maximize efficiency and profitability.

Staffing LEvels

Having the right number of staff to maximize productivity and efficiency will always be a top priority for practice leaders. Our assessment assists in this area by looking at key performance indicators related to staffing efficiency for the practice and by department to make sure you are getting the most out of your most expensive investment.

Revenue Cycle Management

Making sure you are optimizing the revenue cycle management functions of your practice is a key ingredient in a financially healthy organization. Our analysis will look at key metrics related to the billing functions of your practice to ensure you are being paid properly for services provided in a timely manner.

Industry Comparisons

When engaging with BSM to perform your benchmarking analysis, not only will you be able to see historical trends in your results, but you will also be compared to other related medical specialties. We work closely with multiple industry benchmarking surveys and have access to the most up-to-date results for your specialty.

New Business Opportunities

While your benchmark analysis will provide a detailed review of historical performance and recommendations for improvement, our team can assist you in using the report in connection with assessing the feasibility of new business opportunities such as hiring new providers, opening a new locations, or adding a new service line.

"A member of our consulting team will help you interpret the data, identify areas of strength and opportunity, and determine meaningful and tangible recommendations to help drive and grow your practice's bottom line."

Andrew Maller, Senior Consultant

BSM Consulting

Hear straight from our experts

Associated Membership Programs

We take pride in making it easy for our clients to access a wide variety of financial tools and resources where and when they need them. Our various membership programs offer convenient access 24/7.

BSM Connection for Ophthalmology

An in-depth online library of proven practice management tools, resources, and distance learning courses. Whether you need a specific benchmarking tool, human resource training guides, or a compliance calendar template, we have solutions for everyone.

120+ Distance Learning Courses
600+ Practice Management Tools & Resources
Extensive Article Library
Regularly Scheduled Member Webinars
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eSupport for ASCs

Accessible 24/7 and backed by real people to help you, eSupport is the leading online resource to help ASC nurses and administrators remain current, efficient, and compliant.

Compliance tools and resources
Community of experts & peers
monthly educational webinars
annual training made simple
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Schedule an initial complimentary consultation.

Sometimes it's helpful to talk things through. A complimentary consultation with a member of our financial services team provides an opportunity to discuss specific needs and mutually identify the ideal level of support. Since every engagement is unique, an initial consultation can help build a scope of work tailored of work tailored to practice needs.

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