From Data to Decisions: How Independent Practices Can Use Metrics to Drive Growth

Running an independent medical practice means juggling patient care, billing, scheduling, and operations. Often, there’s no dedicated analyst or IT team to help. Fortunately, you don’t need one. Every practice already generates valuable data. The key is knowing which metrics matter and how to use them to make smarter, more strategic decisions.

This blog highlights five essential practice performance metrics that can help improve billing, simplify operations, and increase patient satisfaction, with support from Practice Fusion and Veradigm to make data simple and actionable.

Key metrics that matter for independent practices

Understanding which metrics to track is the first step. While large organizations rely on complex dashboards, small practices can benefit from just a few well-chosen indicators. These practice performance metrics offer practical insights into operations, finances, and patient experience. They can reveal areas for improvement and support better decisions.

1. No-show rate

Missed appointments cost the U.S. healthcare system an estimated $150 billion annually, and each unused time slot costs a physician approximately $200 in lost revenue. The average no-show rate in primary care ranges from 23% to 34% annually, depending on patient population and practice characteristics.

Tracking your no-show rate by day, provider, or visit type can help you identify patterns. Are certain time slots more prone to cancellations? Are specific services being skipped? Once you spot trends, you can take action. To reduce gaps, consider sending automated reminders, offering telehealth options, or adjusting scheduling.

2. Denial rate by payer

Claim denials delay payments, increase admin workload, and may signal deeper issues. A KFF analysis found that insurers on HealthCare.gov denied nearly 1 in 5 in-network claims in 2023, with some rates as high as 54%.

Tracking denial rates by payer and procedure code helps pinpoint delays. Are certain insurers or codes consistently triggering denials? If so, it may be time to review documentation, coding practices, or payer requirements.

3. Days in accounts receivable (A/R)

Days in A/R measures how long it takes your practice to get paid after a service is rendered and is a critical indicator of financial health. The Medical Group Management Association (MGMA) reports that high-performing practices keep this between 30–40 days; average performers fall within 40–50.

Regularly monitoring this metric helps identify slow-paying payers or internal bottlenecks. If payments lag, review your claim submission process, follow-up cadence, or payer mix.

4. Revenue per visit

Revenue per visit helps evaluate the billing performance and service mix. It shows how much income each encounter generates and if services are appropriately reimbursed.

While exact figures vary by specialty, payer mix, and region, data from the Robert Graham Center shows that primary care practices face significant financial pressure. Many operate on tight margins and rely heavily on fee-for-service payments. This makes it especially important to monitor revenue per visit over time.

Tracking this metric monthly and comparing across visit types can inform decisions about scheduling, staffing, and service offerings.

These insights can support changes like bundling services, optimizing appointment lengths, or reevaluating payer contracts.

5. Patient wait time

Patient wait time is a key driver of satisfaction and retention. A study of over 11,000 patients found longer waits dramatically reduced confidence in providers and perceived care quality.

Measuring time from check-in to exam room reveals workflow efficiency. If wait times rise, consider adjusting staffing, rebalancing your schedule, or refining intake processes to keep patients moving.

Putting your data to work

Once you’ve identified key metrics, the next step is using them to drive change. Here’s how to turn insights into action:

Address no-show gaps

Once you’ve identified when and where no-shows happen, take action. Set up automatic reminders, and adjust staffing based on demand by using our personal health record, FollowMyHealth from Veradigm. A waitlist system can also help fill last-minute cancellations and reduce lost revenue.

Improve denial prevention

Practice Fusion offers multiple billing options to equip your practice to reduce denials before they happen. Whether you are looking for an integrated billing software to support your revenue cycle needs, or looking to outsource billing to a team of experienced experts, we have a solution for you.

Final word: Data can be simple and powerful

You don’t need a dashboard full of charts to make data work for you. When tracked consistently, just a few practice performance metrics can uncover bottlenecks, improve billing, and deliver better care.

Start small. Pick one metric this month and focus on it. As you build confidence, layer in more. With Practice Fusion from Veradigm, accessing and acting on your data is easier than ever.

From reducing no-shows to speeding up payments and increasing patient satisfaction, the right practice performance metrics can guide your next move and help your practice grow.

Additional Resources

• Schedule a demo: Learn how our EHR, billing options, and personal health record help simplify workflows and improve care.
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