Business documents: Benchmark report
Automating your documentation
Healthcare benchmarking reports require the documentation of all your processes and practices from scratch. This can be tedious and time-consuming.
PandaDoc provides automation to simplify the documentation process through templates so you can save time. Automated documentation ensures convenience and consistency. It also helps you avoid potential manual errors, making the entire process quick and easy.
Here’s how PandaDoc helps you draft healthcare documentation.
PandaDoc, Inc. 101 California St. STE 3975, San Francisco, CA 94111
Business documents • Document creation
Time and ease of use
Drafting a document can take up precious time. But PandaDoc values your time and enables document creation within two minutes. You can easily draft your documents from templates, sync your customer relationship management (CRM) data, and reduce your create-to-send time, which you can devote to your patients instead.
The times below represent the median number of minutes it takes to create and then send a typical document.
PandaDoc, Inc. 101 California St. STE 3975, San Francisco, CA 94111
Business documents • Document creation
Templates
Why create a document from scratch, when you have a library of templates to choose from? PandaDoc ensures that 100% of your documents are generated using available or custom-made templates with approved designs that support your healthcare organization and give you complete brand control.
These metrics represent the % of PandaDoc documents that were generated using a template, instead of drafting it from scratch.
PandaDoc, Inc. 101 California St. STE 3975, San Francisco, CA 94111
Business documents • Document creation
CRM
PandaDoc ensures a 100% CRM integration rate. This means that all your documents are created using CRM software or by automatically syncing your patient data — such as name, history, and contact information — stored in CRM systems. PandaDoc integrates with commonly used CRM systems like Salesforce, HubSpot, and Pipedrive to pull up your existing patient data and add it to your benchmarking documentation.
These metrics represent the % of PandaDoc documents that were created by using a CRM or automatically syncing CRM data (like contact details, product details, etc.).
PandaDoc, Inc. 101 California St. STE 3975, San Francisco, CA 94111
Business documents: Benchmark report
Tracking your benchmarking report
Sending and tracking your report can be difficult and confusing. You may even misplace a document in the process.
To save you this hassle, PandaDoc uses digital tracking technology to ensure that you know exactly where your report is at any given time. This technology can help you keep an eye on the documentation process at every stage and gain insight into how many people have opened, viewed, or approved it.
Here’s how PandaDoc helps you track your report.
PandaDoc, Inc. 101 California St. STE 3975, San Francisco, CA 94111
Benchmark report • Sending documents
Decision-making time
PandaDoc simplifies decision-making with its efficient technology and speeds up the turnaround time of the entire documentation process.
An average healthcare organization may take up to 523 minutes to receive documentation and complete the decision-making process. PandaDoc helps you and your organization decrease that send-to-close time to a mere 16 minutes through automation.
These times represent the amount of minutes that passed between when a PandaDoc document was sent and completed (win or lose) by a recipient.
PandaDoc, Inc. 101 California St. STE 3975, San Francisco, CA 94111
Benchmark report • Sending documents
Report completion time
Simplifying the tracking process further, PandaDoc lets you digitally track who views and completes the report. Although the process of approving a report may take 20 minutes for a healthcare facility, the PandaDoc interface enables easy use of eSignature, allowing you to sign, approve, and complete a benchmarking report within a view-to-close time of just two minutes.
These metrics represent the number of minutes between when a PandaDoc document was viewed by any recipient and completed.
PandaDoc, Inc. 101 California St. STE 3975, San Francisco, CA 94111
Benchmark report • Sending documents
Value scale
PandaDoc has robust experience and detailed insight in closing sales deals, with an average deal value of up to $46,800 compared to the industry standard of $4,200. Knowing this can help you create a financial benchmarking report for your organization using PandaDoc.
The scale of deals closed using PandaDoc documents includes the entire sum of money in the document pricing tables and the payment block.
This metric will help you see what size sales deals are typically closed by PandaDoc customers within your company size and industry.
PandaDoc, Inc. 101 California St. STE 3975, San Francisco, CA 94111
Business documents: Benchmark report
Finalizing your benchmarking report
Collecting an eSignature from the recipient marks the completion of your benchmarking report.
Closing a document is the most important stage of benchmarking. To make this process efficient, PandaDoc allows you to track your document throughout the finalization process. This also helps prevent documents from expiring or being rejected.
Here’s how PandaDoc helps you complete your report.
PandaDoc, Inc. 101 California St. STE 3975, San Francisco, CA 94111
Benchmark report • Closing documents
Document completion
You can easily track the progress of your report throughout the closing process. All PandaDoc documents have been completed, approved, and signed, with a close rate of 100% in contrast with the industry standard of 66.7%. You can rest easy, as PandaDoc documents guarantee not only efficiency but also success. So once your benchmarking report is complete, you can go straight to the implementation stage.
These metrics represent the % of PandaDoc documents that were completed, signed and paid (or signed and waiting for payments) by all recipients on all sent documents.
PandaDoc, Inc. 101 California St. STE 3975, San Francisco, CA 94111
Benchmark report • Closing documents
Document expiration
Although all PandaDoc documents expire eventually, the platform allows you to monitor the lifetime of your document from drafting to completion. While documentation across the industry has an expiration rate of 2.0%, only 0.4% of PandaDoc documents have expired before completion.
These metrics represent the % of PandaDoc documents that reached expiration before being closed (win or lose).
PandaDoc, Inc. 101 California St. STE 3975, San Francisco, CA 94111
Benchmark report • Closing documents
Document rejection
If a document is rejected by a recipient, PandaDoc allows you to receive a notification with feedback to make changes. This function lets you quickly revise the document and send it back to the recipient for approval. That being said, PandaDoc documents have a rejection rate of 0.2% compared to the industry standard of 1.2%.
As an all-in-one documentation automating solution, PandaDoc can help you easily create and track your healthcare benchmarking report as you document your organization’s performance without having to deal with manual work.
These metrics represent the % of PandaDoc documents that were declined by recipients for whatever reasons across all sent documents.
PandaDoc, Inc. 101 California St. STE 3975, San Francisco, CA 94111
Key takeaways
| Creating documents | Industry standard* | Top benchmark* |
|---|
| Create to send time | mins | mins |
| Template use rate | % | % |
| CRM integration use rate | % | % |
| Sending documents | | |
|---|
| Send to close time | mins | mins |
| View to close time | mins | mins |
| Average deal value | | |
| Closing documents | | |
|---|
| Close rate | % | % |
| Expired documents | % | % |
| Rejection rate | % | % |
PandaDoc, Inc. 101 California St. STE 3975, San Francisco, CA 94111
Breaking down this report
About PandaDoc: Over 27,000 PandaDoc customers use our software to streamline the process of creating, approving, and eSigning proposals, quotes, and contracts. Many businesses and their teams benefit from our document creation and workflow capabilities.
Our all-in-one software saves time by providing our customers with increased workflow speed and valuable insights. As a result, our customers provide their customers with a timely, engaging, and professional buying experience. Visit www.pandadoc.com today for more information.
Industry-standard* represents typical PandaDoc customers. The % of PandaDoc customers involved in the calculation varies from 50% depending on the industry, company size, and average deal value.
Top benchmark* represents the best performing PandaDoc customers in the top 10% of 27,000+ of every industry and company size. This metric shows the best usage of PandaDoc's software.
*All metrics in this report represent the statistics of the documents sent by all PandaDoc's paying customers regardless of which pricing plan they use. If a customer sent out documents without eSignature fields or created a form with a signing field but didn't send it, the calculation excluded those documents.
PandaDoc, Inc. 101 California St. STE 3975, San Francisco, CA 94111
You have a decision to make
You're standing at the crossroads. To the left is the same rocky road you've been traveling of composing and sending documents the old-fashioned way. To the right is a much smoother path — a path where you harness the power of our all-in-one document automation system.
How you manage the process of creating, sending, and closing documents says a lot about your company. We hope you'll choose the more innovative path and join the growing number of forward-thinking businesses that use PandaDoc. Our customers save time and money by investing in these efficient, proven workflows.
But don't take our word for it.
Try our advanced capabilities today without risk by requesting a free product demonstration. Click here to see how PandaDoc can take your sales game to the next level.
We can't wait to hear how our all-in-one document automation system revolutionizes your document creation process!
Have questions or comments? Contact PandaDoc at marketing@pandadoc.com.
PandaDoc, Inc. 101 California St. STE 3975, San Francisco, CA 94111
Learn more about PandaDoc
PandaDoc is deal acceleration software that allows you to build, track, and eSign your docs all in one place. Automate your document workflow, discover what deals close faster with built-in analytics, and execute legally-binding eSignatures in minutes.
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