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Industry Report – The Business of Care

How Small and Mid-Sized Practices Can Improve Performance Across the Patient Journey

A practical guide to healthcare practice performance metrics, revenue cycle optimization, and patient journey analytics for independent medical practices.

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"The pressures on independent practices are not going away. But those that navigate them successfully share one thing in common: they treat data as a strategic asset, not an afterthought."

 

— From The Business of Care: How Small and Mid-Sized Practices Can Improve Performance Across the Patient Journey

Financial Performance Starts with Operational Performance Subtext

Today's value-based care landscape rewards practices that measure, monitor, and optimize performance across patient access, clinical workflows, and revenue cycle operations. The financial impact of getting it right—or wrong—has never been greater.

11%

Average operating cost increase for medical practices in 2025

~1/3

Decline in Medicare physician payment in real terms since 2001

-9%

Maximum MIPS payment penalty for low-performing practices

+1.88%

MIPS payment adjustment available to top-performing practices

Benchmark Your Practice Performance (And Where to Improve)

Track the Healthcare Metrics that Actually Drive Revenue

Learn which performance metrics across patient acquisition, intake, clinical workflows, billing, and retention have the greatest impact on your financial performance, and how to start monitoring them today.

Understand How Problems Compound Across the Patient Journey

See how a single breakdown at intake can cascade into claim denials, lost risk-adjustment revenue, staff burnout, and reduced capacity—and how to break the cycle.

Benchmark Your Performance Against Industry Standards

Compare your no-show rate, clean claim rate, days in A/R, net collection rate, and more against current MGMA and industry benchmarks so you know where you’re ahead and where you’re falling behind.

Turn Small Improvements Into Outsized Returns

Discover how shaving minutes off documentation time, reducing no-shows by a few percentage points, or improving your clean claim rate can translate into tens of thousands in recovered revenue annually.

Frequently Asked Questions:

Improving Performance Across the Patient Journey 

Who is this report for?

This report is for physicians, practice administrators, and office managers at small and mid-sized practices who want a more data-driven approach to financial and operational performance. 

What are healthcare performance metrics?

Healthcare performance metrics are measurable indicators—such as no-show rate, days in accounts receivable, and clean claim rate—that help practices evaluate financial and operational efficiency.

How can small medical practices improve revenue cycle performance?

Improving revenue cycle performance starts with tracking key metrics like clean claim rate, denial rate, and A/R days, then addressing breakdowns in intake, coding, and payer follow-up.

What are the most important metrics my practice should start tracking?

The report covers metrics across five stages of the patient journey: acquisition, intake, clinical experience, billing, and retention. You’ll learn which metrics are the most important, including benchmarks. 

How do these metrics impact both fee-for-service and value-based reimbursements?

These metrics directly impact performance across both fee-for-service and value-based reimbursement models. In fee-for-service environments, they determine how efficiently you capture revenue, reduce denials, and improve cash flow. In value-based arrangements, they influence quality scores, cost performance, and incentive payments. Improving these metrics strengthens financial performance regardless of how your practice is paid. 

What is a “compound effect” in practice performance, and why does it matter?

It’s how a small problem at one stage creates cascading losses downstream. For example, a single intake error can trigger a denied claim, staff rework, payment delays, and reduced patient confidence. The report models these effects so you can prioritize the fixes with the greatest return.

Turn practice performance data into better financial outcome

The most successful practices use data to identify inefficiencies, improve operations, and strengthen profitability. Learn where to focus first.