With our medical practices we have over the years made extensive use of 'benchmarking' in reviewing practice performance. Benchmarking is the measurement of performance against sector averages, to allow areas of underperformance to be identified, and (hopefully!) rectified.

To underpin this, we compile an 'Inter Practice Comparison' (downloadable via the Downloads section) on a fully anonymised basis to allow meaningful comparisons to be drawn with other medical practices in the area, and when this is combined with a detailed variance analysis comparing the current year with the previous years, it allows trends to be spotted quite easily. We will use graphs to highlight certain aspects of the accounts, and every possible means is employed to make the accounts more understandable.

This process has now been extended to the other business types covered by Condies Health, and by carefully attending to the areas each year where improvement is possible, one can see very real improvements in overall business performance over a period of time.

This means more money for less work - definitely worth going for.