National Oncology Practice Benchmark: An Annual Assessment of Financial and Operational Parameters-2010 Report on 2009 Data

Across the country, there are many examples of oncology practices struggling financially, merging with other organizations, and even closing, but we believe the data presented here indicate that the business operation of oncology practice is becoming more mature, more efficient, and more self-aware. This is evidenced by the improvement in several of the metrics presented here and, to a small extent, by the number of survey participants who were willing to share information and the quality of data that they were able to provide. This indicates a broader understanding of the use and importance of peer-to-peer benchmarking. Several years ago, we introduced the concept of a standard HemOnc and defined it as a medical oncology or HemOnc physician who sees 350 new patients per year. At the time when we proposed that convention, there were many who considered 350 an extremely high number. In this survey, that standard has risen to 389-quite a remarkable gain in productivity. Knowledge of objective standards drives gains in productivity in an environment in which such gains are rewarded. Just as computerized practice management systems have streamlined the processing and measurement of billing and collection operations, so too will the adoption of electronic medical records allow for similar improvements in other aspects of the oncology practice. Health care reform seeks to promote measurement of clinical activity-the way similar patients are treated and the outcomes of that treatment. When we are able to report clinical benchmarks, we can reasonably expect gains in quality and efficiency. Then we will be truly advancing our abilities to take care of individual patients and sustaining our economic capacity to take better care of more people living with cancer. The 2011 National Practice Benchmark survey (on 2010 data) opened in February, and findings will be published later this year. For additional information about the National Practice Benchmark, please e-mail info@oncomet.com. Copyright © 2011 by American Society of Clinical Oncology.