Which of the following would be considered a metric for benchmarking in physician practice?

Benchmarking metrics allow physician practices to evaluate their performance against a standard or best practice, thus enabling continuous improvement and strategic planning. Gross charge per RVU (Relative Value Unit) is a particularly meaningful metric in this context. It measures the economic value generated by the practice relative to the volume of services provided, reflecting how efficiently the practice is managing its resources to generate revenue.

The significance of this metric lies in its ability to provide insights into both revenue cycle management and the productivity of clinical care. By analyzing gross charges relative to RVUs, practices can identify areas for improvement in billing practices, service pricing, and the overall efficiency of clinical services delivered. It can also help practices compare their performance against industry standards or peers, making it a valuable tool for benchmarking.

Other options, while relevant in the broader context of practice management and performance evaluation, do not serve as primary benchmarking metrics. For instance, patient retention rates and hospital readmission rates are important for assessing quality of care and patient satisfaction but are more focused on patient outcomes than financial performance. Social media engagement, while increasingly relevant for marketing and patient communication, does not provide quantifiable financial measures for benchmarking in the same way that RVUs do. Therefore, gross charge per RVU stands out as the most