How Shoalhaven and Multisite Groups Increase Commercial Outcomes With Cubiko
Shoalhaven Family Medical Centres is a multisite practice group in New South Wales. Shoalhaven Family Medical Centres (SFMC) include a teaching practice for the University of Wollongong, Graduate School of Medicine. SFMC is dedicated to providing patients with accessible, equitable, affordable, high quality medical and nursing care. SFMC is a Quality Practice Accredited practice.
It used to take my team four hours to extract data from multiple sources. Now, this takes moments. Cubiko tells me what questions I should be asking and the directions I should be looking to gain greater outcomes and efficiency.
The Opportunity
SFMC had quickly grown to multiple sites and required a system that would take them to their next level of growth to expand rapidly and efficiently.
SFMC needed a system that could:
- Quickly extrapolate and analyse data from Best Practice
- Provide insights into practice health and profitability
- Provide data insights across multiple practices in near real-time
- Enable the team to measure the impact of practice FTE fluctuations
Following some market research, SFMC came across Cubiko – a system that distils vital information and helps practices make task prioritisation, process improvement and growing profit simpler than has ever been possible.
The Solution
SFMC implemented Cubiko and quickly found that they could use the 140 different metrics across their group. Cubiko allowed SFMC to have a clear focus on business metrics and commercial outcomes. Head Office can view a group reporting interface and drill down to the practice level while individual practice sites have access to their data to harness the power of data on a day to day level.
Focus on the right Billing Metrics
Cubiko provides several billing metrics, including Billings per Hour, Billings per appointment and Billings per invoice.
Each metric is provided on a per practice and per practitioner level. Each metric can have targets and goals set to meet a sustainable level by the group. The ability to overlay billings per hour, appointments per hour and billings per appoint in a single view for a complete income view of these practice drivers.
In understanding the numbers, Greg was able to question the norms. In his words, “Cubiko teaches people to fish. It is the adage of work smarter not harder”.
Forecasting Future Practice Performance
Cubiko forecasts future practice commercial performance based on an algorithm that has been developed and iterated on the general practice market over the last two years. Using both historical data and a 90-day moving average, Cubiko can accurately forecast future practice performance.
Practices use this metric to manage diaries efficiently, for example, not booking recalls in on close to full days or increasing marketing spend on slow days. Practices are using this to drive marketing spend and to make the most effective use of diaries.
Commercial Outcomes
With Cubiko, SFMC was able to track key commercial outcomes. They focused on metrics such as:
- Revenue per room, room utilisation and footprint to revenue
- Practice capacity vs. Utilisation with an FTE calculator
- Missed and Unbilled appointments, through billing audit tool
- Future billing and patient numbers forecaster
SFCM used these metrics to understand the data, find patterns and ask the right questions. In analysing the trend and correlation between work patterns and billing patterns, practices can find the “sweet spot” for Utilisation.
The Results
95% reduction in time to run data analysis
Cubiko’s data analytics and real-time metrics are automated, from what used to take Greg and the SFMC team hours each week. With the spare time, the team can focus on what matters, improving patient care.
Cubiko dispels myths into what is happening in the practice
Greg would often ask “are we maximising our use of 10997s and other item opportunities”. Cubiko allows SFMC to make data-driven decisions, to ask “how did we end up there”. To find the problem, recognise it, and provide a solution.
Cubiko has allowed SFMC to positions themselves for further sustainable expansion. As a platform Cubiko has been utilised across several large multi-site medical practice groups from SFMC with 4 locations, to larger groups with 50 – 80 clinic locations. As an Australian company and steeped in general practice, Cubiko continues to build profitable and sustainable general practices across their client base.
“Cubiko has freed up my time to act and engage with my clinicians and staff with objective evidence in hand and focused strategies in mind.”