k{cat}/KM is a measure of catalytic efficiency because it considers both the rate of catalysis (k{cat}) and the enzyme-substrate interaction (KM).
Catalytic efficiency represents the number of molecules of substrate that an enzyme can convert to product per liter per second.
Examination of the k{cat}/KM ratio reveals that some enzymes approach catalytic perfection.
Expanding the equation for k{cat}/KM shows that k_1, the rate of formation of the enzyme-substrate complex, is the rate-limiting step.
The rate at which enzyme and substrate diffuse together (\approx 10^8 – 10^9 s^{-1} M^{-1}) is the maximum possible catalytic efficiency.
If k{-1} is very small, the k{cat}/K_M of some enzymes approaches the rate of diffusion!
Enzymes for which k{cat}/KM is Close to the Diffusion-controlled Rate of Encounter