We’ve all heard the old cliché that numbers don’t lie.
As any home care agency owner can attest, running a home care agency is difficult. Many home care owners wear many different hats during the course of their day, and this often leaves little time to step back and analyze the health of your business.
Despite this, it’s critical to make time to do just that. You should step back periodically to get your bearings on what’s brought your business this far, where it’s headed, and what course corrections you may need to make to accomplish your goals.
In doing so, you’ll find that looking at the right metrics will make your job much easier. We’ve all heard the old cliché that numbers don’t lie. In this case, numbers are valuable because they’ll save you time, give you the most precise insights into the workings of your business, and reveal where to focus your efforts as you move forward.
Here are five metrics that will help any home care agency to operate more efficiently and achieve better growth:
1. Sales Per Full-Time Employee
What is this?
Sales Per Full-Time Employee tracks your relative overhead costs by comparing how much revenue your agency is bringing in for each full-time office staff member you employ.
Why is it important?
By comparing your sales per full-time employee against industry averages, you can identify whether you have generated too many overhead costs and are losing profits by operating inefficiently.
Here’s breakdown of median sales per full-time employee by revenue ranges, courtesy of the 2018 Home Care Benchmarking Study: