The goal of every dentist is to have a successful dental practice. There is a lot of advice about how to do that out there but how do you actually measure it? Practice management systems host a lot of data that can be cumbersome. Using a KPI dashboard that is programmed to gather data to measure industry standard dental KPI's can ease the process of gathering reports and making decisions about your practice.
Here are 4 ways a Dental KPI Dashboard Leads to a Successful Dental Practice:
1. Simplify Reporting
Office managers are generally responsible for running and creating reports for the dentist. This typically consists of exporting data to excel and taking time to organize that data manually, print the reports and stack them on the dentist's desk for them to review. There's a better way. Dental KPI Dashboards aggregate the data you want in real time. You can email reports or specific data points to anyone on your team. When you manually collect data from your management system, your reports are outdated the moment you create them. However, with a KPI dashboard you can stay up to date of what's happening in your practice by the minute.
2. Gain Greater Insight Into Your Practice's Performance
Do you know if you are tracking all of the KPI's you should be tracking? Or are you just tracking information you think you need? You should be able to pinpoint the value of your walkouts and broken appointments and how much you've won back. You should know where you are month and year to date for practice and provider goals. You need to know which providers are the most productive and what procedure types are the most profitable. KPI dashboards give you that information quickly and easily so you can plan for the future.
3. Set and Monitor Practice and Provider Goals
A good KPI dashboard lets you set provider goals and practice goals so you can monitor performance throughout the year and adjust as necessary to ensure you hit your overall goals. Do you know which providers are hitting their production goals? Is your team's vacation time going to affect your overall production goal for the year? These are important things you need to know and should be able to schedule out in advance in a dynamic KPI platform. This information can also help you decide on marketing campaigns to attract new patients and/or win patients back.
4. Save Time
Dental practices are built on time. There's only a certain amount of time in the day and only a certain amount of tasks and procedures that can be done during that time. Why waste precious time manually creating reports or sifting through printed reports to find the information you need? Dental KPI dashboards save the average multi-location group manager 1+ hours a day and 6+ hours a month for the average practice. What could you do with that time? You could be winning back more patients by making phone calls or setting up automated texts. Dentists could be doing more procedures rather than wasting time sifting through piles of outdated reports. Saving time means an increase in production and revenue.
Using a dental KPI dashboard is not just a good idea, it's necessary for becoming a successful dental practice. Success comes when you have the information you need to make good business decisions. That is what a KPI dashboard does for you. The average practice will see a 5x return on investment in the first 30 days, see a 7% increase in patients being re-activated on average with our client recall system, and save 300 sheets of paper per month! Those are some great benefits of using a KPI dashboard!
Start getting your practice on the right track with a free morning checklist we've created for you! Setting goals doesn't have to be overwhelming. Start with little goals each day that can increase your productivity.