It’s your choice: invest some time and understanding in the key performance indicators (KPIs) that you need to track, analyze and take action on, in order to achieve optimal outcomes – or continue on the same path and wonder why you ever chose dentistry in the first place.
Here’s three tips to getting started in understanding your practice data.
The Start Line – Before you can even get to the start line, you need to prepare for the race. You need to know your numbers, your starting data, and where you want to go. Once you have that information, you’ll be able to pull up to the starting line with confidence. Here’s some key data elements to start with:
- Unfilled hours in doctor and hygiene schedules
- Accounts Receivable, insurance-related (A/R)
Building A Game Plan – Once you’ve hit the ground running, you’ll be able to see how your practice is performing and see where you can make improvements. You’ll be able to create a solid plan to help propel your practice forward with incremental steps to help reach your overall goal of being more successful. Here’s an example of what to look for once you’re on your way:
- Dollar difference between gross and adjusted production
- Net new patients
Crossing The Finish Line First – After several of your smaller steps have been fulfilled and you have your final goal in view, you’ll have a few final points to pinpoint exactly where you can improve further. This will help push you over the finish line and help you achieve your final goal. Depending your specific needs, you could be looking for:
- Percentage of patients that have provided mobile numbers or email addresses
- Number of referrals of new patients from existing patients
There’s more you can do! Download our free ebook at: https://www.dentrix.com/business-analysis