Measure of Success

While the definition of success is arbitrary to some, there are commonly accepted standards by which the success of a business is judged. A recent article by MasterClass outlined 10 measures of business success, organized into 2 categories: qualitatively and quantitatively. Many of these measurements, such as customer and employee satisfaction, key performance indicators, customer retention and profitability, can also be translated into a healthcare setting.

If multiple factors contribute to an organization’s overall success, should each of those factors carry equal weight? Or should certain measures be given higher priority? There’s no correct answer. Each organization must determine its own formula for success based on its mission, vision and values.

Since the beginning, QualDerm has chosen to prioritize quality, with the belief that this focus will lead to success. We’ve grown our network by selectively partnering with high-caliber physicians who share our commitment to providing the highest-quality care possible in a patient-centric manner. When measuring customer satisfaction, our patients are telling us our formula for success is working. Network-wide, our affiliated practices have an average of 4.8/5 star patient reviews and, in a network-wide survey, 97% of patients said our staff cares about their health and safety.

Success must be earned every day. That responsibility is shared by everyone throughout an organization – from the leadership team to the physician partners to the practices’ teammates. By building and staying dedicated to a culture of quality, we hold one another to our high standards and are committed to continuously raising the bar.

Several years ago, we launched the physician-led QualDerm Quality Council to help advance the clinical excellence and frameworks of our affiliate practices. Among other responsibilities, the Quality Council advises QualDerm leadership of leading-edge clinical practices and strategies to be considered for adoption. The Council also reviews the clinical performance of QualDerm-affiliated practices and clinicians and facilitates the development of industry best-practices based on internal and external data comparisons. Since its inception, the Quality Council has introduced several initiatives to enhance clinical excellence and promote physician collaboration.

More recently, the Council began hosting a quarterly Virtual Grand Rounds. More than 40 affiliated physicians participated in each of the first two sessions to discuss several interesting and difficult cases presented by their colleagues.  Further, the Council is in the early stages of implementing a Service Excellence initiative. This program is designed to encourage a service mindset throughout the entire QualDerm organization to enhance the patient experience as well as strengthen employee satisfaction.

Quality is a heavily-weighted measure in QualDerm’s definition of success. That is why we ensure our affiliated physicians maintain their clinical autonomy and have a strong voice in guiding our organization’s strategies and policies. It is also the reason our organization and affiliated practices have continuously thrived, even during the pandemic.

Find out more about how QualDerm’s formula for success can benefit your practice.

Contact us to learn more about partnership opportunities or to discuss selling your practice.