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When you are deeply involved in managing your practice on a day-to-day basis, you may feel that you see everything and know everything. However, your attention has natural limits. A well-designed system of KPIs may extend these limits substantially.
An objective component
Look at the KPIs, like the laboratory test results for your business. It is measurable objective data, which may help you to see the complex picture and support decision-making. And it may be as helpful for assessing the situation in your business as laboratory tests help you make a diagnosis for your patients.
Overcoming attention limits
Most people may keep in mind only a limited number of questions. Since this "mental space" is limited, most probably, it will be taken by the urgent problems and tasks executed as a habit. But running a successful business may require a more comprehensive approach.
When you regularly review the indicators covering different aspects of your practice, you will see the whole picture better. And in some cases, it may show you early warnings of a problem before it deteriorates into the urgent one.
Discovering new growth points
When you start analyzing your metrics, you may become curious about certain aspects of your business, which you previously took as given. And when you start thinking about if you can improve it, you may find some growth points which you never considered before.
When you prepare the data, watch it once, and never return, nothing will change for the better. So you need to make use of it. Here are a few ideas on how to do it.