Running a dental practice (or any business) can be extremely complicated and overwhelming. To keep things going in the right direction, we must use data to help us understand how the practice is performing, where it is strong and weak, what improvements can be made, how the staff is operating, etc.
When you get an annual physical, there is a set of numbers that determine and inform you about your health. Dentists have the same opportunity when it comes to understanding their practice's health through data.
Set an annual production goal. Each practice should set an annual goal and then work to achieve that goal. If production is on track, the practice is performing at the right level.
Don't overcomplicate it. Don't make the information so complex and overwhelming that it becomes hard to interpret and leads to ongoing procrastination. Set an annual production goal and then analyze production per hour, production per provider, production per new patient, and production to overhead monthly.
Dr. Roger P. Levin is CEO of Levin Group, a leading practice management and marketing consulting firm. To contact him or to join the 40,000 dental professionals who receive his Practice Production Tip of the Day, visit LevinGroup.com or email[email protected].
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