Your Dentrix practice management system gives you access to a wealth of actionable data that can help your practice grow and thrive. However, the first step to turning that information into power is knowing which numbers matter. Here’s a look at the top five Key Performance Indicators (KPIs) you should pay attention to.
KPI 1: Active Patients
Your active patient base directly affects your production. Avoid shrinking numbers (and profits) by following up on patients who are overdue for a hygiene visit, ensuring patients are set up for future continuing care appointments and tracking where new patients are coming from. Use the Dentrix Practice Advisor to track your active patients closely. And consider Profitability Coaching to help you use Dentrix to its fullest capacity.
KPI 2: Active Patients in Continuing Care
When you focus on ensuring that patients are scheduled to return for their hygiene visits, you can maintain and increase your active patient base and ensure continued growth of your practice. Use the Practice Advisor to keep tabs on continuing care patients. Also, Profitability Coaching can help you put routines in place that keep patients coming back.
KPI 3: Production
Determining who is doing the work, what the job is and how much revenue your practice can expect from each can highlight the difference between “being busy” and “making money.” Use your Daily Huddle to review KPIs and to set goals. Focus on critical areas such as where to fit in emergencies, who is due for major X-rays, unscheduled treatment plans and unscheduled continuing care.
KPI 4: Accounts Receivable Management
With the right reports, you can see which claims have aged over 30 days, the percentage of your practice’s daily collections that are received over the counter and the A/R-to-Production ratio. With PowerPay, an electronic service that is part of the customer service plan bundles, you can set up auto-pay schedules with patients. And using Dentrix eClaims means that insurance claims should rarely age over 30 days and most should be paid within two weeks.
KPI 5: Schedule Optimization
Correctly setting up your appointment book can have a significant effect on key metrics that give you a snapshot of your practice’s success—including average hourly production, unfilled/scheduled hours, number of broken appointments and more. Use tools such as “Perfect Day Scheduling,” Kiosk and Questionnaires, Dentrix Mobile, Communication Manager, Website Manager and Insurance Manager to streamline the process of optimizing your schedule.
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Most practices utilize a very small percentage of the software. No one wants to be inefficient. But finding time to figure out how to do things more efficiently is often difficult to do. Whether you are new to Dentrix or you’ve been using the software for years, invest in coaching to learn how to use KPIs for significant long-term dividends.
About the Author: Tammy Barker is a senior product manager for Henry Schein ONE. She has an MBA from Brigham Young University and 20 years of experience in dental practice management. Tammy led development of the Dentrix Practice Advisor Report, the Dentrix Daily Huddle Report, and the Dentrix Profitability Coaching Program. She is passionate about helping dental practices succeed by maximizing best practices with the tools in Dentrix.