Dental Practice Metrics to Track your Success

Understanding and goal setting for your practice metrics is key to running a successful business. Spending an hour a month, monitoring certain key metrics can instantly give you an idea of how your practice is running, what is the potential of the practice and how to get there. 

360 Powerdent’s analytics platform allows clients to leverage practice metrics by seamlessly connecting to all the major Practice Management Systems, pulling data, consolidating them (in the case of multiple locations), and presenting them in comprehensive graphs and tabular form that would give the end user a full overview of how the practice(s) is/are performing. 

Below are some example metrics, when fine-tuned, can result in growth and profitability prospects for your practice. To learn more about where you may stand in each of these metrics (and many more) with relation to best practices as well as industry, feel free to book a consultation call to get subscribed to our analytics platform. 

Hygiene and Patient Flow Metrics  

These metrics relate to how well your Hygiene program is operating. A good Hygiene program would typically result in both reoccurring revenue from recall appointments as well as healthy treatment planning generated from exams.

1. Hygiene Rebook Rate: When running a Hygiene recall program, your Hygiene rebook rate is the core of your practice. Booking in more patients into 3-month, 6-month or 9-month programs will not only be the source of recurring hygiene revenue but will also be the source of recall exams which in turn generates treatment plans for Extractions, Restorations, Implants, etc. thereby increasing the potential revenue of your business. To be considered healthy most practices would have their Hygiene rebook at around 85% or higher. 

2. Hygiene Appointment Value : Having a strong Hygiene appointment value would imply that you are successfully generating healthy hygiene appointments (i.e. good amount of scaling, polishing and fluoride per appointment) . For a practice located in BC, you should keep your average appointment value in the neighborhood of $215 to $250.

3. Daily Hygienist Production: Daily Hygienist Production looks at how well your hygiene chair is being utilized. With addition to having a good appointment value, if hygienists are utilizing their chair consistently, it will reflect in a high Daily Production value. A good Daily production for Hygienist in BC should be ~ $1,350

3.Retention Rate: Retention Rate is a holistic approach on understanding the patient flow in your business. Not only does it take into account the new patient exams that you do, but it also considers previous patients who are being dropped off your patient base in order to evaluate how healthy your patient base growth is. Having a strategy for healthy retention over multiple years can be the key to long term growth in your practice. We recommend having at-least 80% of retention to see healthy year-over-year revenue growth in your practice. 

Dental and Treatment Related Metrics

1. Case Acceptance: Case acceptance refers to how many treatments plans a provider is able to convert. The higher the case acceptance would imply more patients are booking in their treatment. This can also be viewed in conjunction with Billings/Recall where a high Billings/recall and high case acceptance would imply a dentist is able to book in patients and generate revenue off the treatment plans.
2. Daily Dental Production: Having both a strong Dental appointment value and daily dental appointment value would imply that you are successfully generating healthy dental appointments while keeping your chair utilized throughout your working days.  

Macro Level Metrics

1. Average Patient Spending: This is a measure of how much the average patient in your practice spends in a year. It is a good macro level metric to see whether you are in line with what the other clinics in industry are charging. If low, you can address it via other monitoring other metrics like average number of visits, Avg Hygiene appointment value, average dental appointment value etc. and fine tune those metrics to improve your overall patient spend  
2. Hygiene Visits: Hygiene Visit is a measure of how many times a typical patient would come into your clinic each year. It is a strong measure to gauge whether your practice is being able to match your 9,6 or 3 month recall requirement. Higher frequency of visits would imply higher recurring revenue in your hygiene department while also opening treatment plan prospects through recall exams.  
3. Booked Patient Base: Booked Patient base if a good preventive measure for seeing what your future booking looks like and whether patients who are in the recall program are actually booked in for future appointments. A higher number would imply that your recall program is running efficiently.  

Where do I stand on my metrics?

If you are more interested in learning about our live dashboard offering that would display all the metrics with industry benchmarking, you can subscribe to our analytics platform. Feel free to set an appointment by going to www.adacpa.ca/book to book an introductory appointment as to how analytics can improve your business.