When it comes to benchmarking your practice, there are many ways to look at performance levels and how your practice operates compared to other practices within your specialty. What you don’t know about the business and financial aspects of your practice can hurt you. Benchmarking your practice can help reveal areas for improvement to ensure that you meet your goals.
Many business owners think benchmarking is for big or troubled companies. But no company, regardless of size and performance, can afford to ignore it. In today’s changing business environment and economy, it’s hard to keep up with your competitors, and benchmarking allows companies to compare their productivity and efficiency to other businesses.
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