Data are constantly coming at us 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.
As an analogy, when you get an annual physical, there is a set of numbers that determine and inform you about your health. These include cholesterol, glucose, blood pressure, heart rate, etc. The medical physical exam has figured out a formula to help determine the health of each patient. Dentists have the same opportunity when it comes to understanding their practice's health.
Start with annual production. Each practice should set an annual goal and then work to achieve that goal.
Don't overcomplicate it. When it comes to understanding the general health of your practice, look at five key numbers: production, production per hour, production per provider, production per new patient, and the ratio of production to overhead.
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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