Benchmarking has become an increasingly important tool for assessing a practice's business health and identifying potential problems. A mistake many doctors make when benchmarking is comparing their practices solely to a median practice rather than including a "Best-Of-Class" practice.

According to Mark E. Kropiewnicki, JD, LL.M., and Sandra E. D. McGraw, JD, MBA, principal consultants with The Health Care Group, Plymouth Meeting, Pa., "only by measuring your practice against the best can you move toward real improvement."

You can obtain benchmarking data from sources such as the Society of Medical-Dental Consultants, the Medical Group Management Association, the AAO, the ASCRS/ASOA, and The Health Care Group, Inc. The best indicators are practice-specific and based on nationwide data.