They key to practice prosperity is measuring dental analytics effectively
If you run a successful dental practice, you understand that the only way to continue growing is to analyze your current – and previous – workflow and business information.
If you’re not currently measuring productivity and finances, you may be wondering how to start collecting and assessing dental analytics. In fact, you’ll probably have a lot of questions.
How do you know where to start collecting data? What do these facts you round up tell you about your office?
There’s a lot to know about dental analytics, so if you’re looking for the basics on what to track and why, we can help you get started.
Why measure dental analytics?
Understanding the analysis of qualitative and quantitative information from your dental practice drives continual growth. All dentists and practice owners care about maintaining clientele and growing, but do you know how to do so? Watching dental analytics can help you comprehend how your practice is functioning. This process will help you discover room for improvement, and it will help you plan for the future.
Dental analytics for patients and scheduling
Your patients are the lifeblood of your business. Without them, your office would be empty. And there’s actually a lot that you can learn from your patients, so it’s important to track all of this data carefully. Here are some questions to consider when it comes to your clientele.
- How many missed appointments do you have a month on average?
- Were missed or cancelled appointments rescheduled?
- How long did it take to reach out to patients to reschedule a missed or cancelled appointment?
- Are lost patients being reached out to throughout the year?
- What percent of patients are scheduled during business hours?
- What is the percentage of no shows and last minute cancellations?
- How are new patients finding out about your practice?
- Do you have a waitlist? How often is it utilized throughout the day/week?
Dental analytics for collections and revenue
Collecting fees owed from your patients is the only way to run a profitable practice. On top of that, it’s just as important to bill insurance correctly, and check to make sure your claims are being processed and paid correctly. How are you tracking your company’s revenue?
- How much do current patients owe?
- What systems of contact have been used to collect payment from clients?
- When was the last time patients were contacted for payment?
- Do any patients have balances that need to be paid out?
- What insurances are you currently working with?
- What is the claim status for each insurance company?
- Are any claims waiting to be resubmitted?
- Are any claims waiting for additional data to be sent before approval?
Dental analytics for production
It’s important to evaluate how well your staff is working, and how their productivity is increasing (or possibly decreasing) your bottom line. Are they meeting their goals? Does it take some members of your staff longer than others to complete tasks? Studying specifics like this will allow you to understand how time is spent, and also what type of training is needed.
- How much time does each treatment take to complete?
- How many follow-up visits stem from different treatments?
- Are patients scheduled for a future hygiene appointments before leaving the office?
- What type of vacation-schedule planning or coverage happens in your office?
- How many sick days are used by employees?
Dental analytics for treatments and inventory
- What is the acceptance rate on treatment plans?
- How long do treatment plans take to get approved?
- What percentage of your treatments are recare?
- What is the type of follow-up appointments scheduled per hygienist?
- What treatments are referred to you by other providers?
- How much are you spending on current products that you’re using in the office?
- How much inventory are you using? Does any of it go to waste?
Don’t guesstimate how your dental practice is doing. Use our real-time dashboard to monitor every corner of your business. Get automatic updates from the front-of-office to the back all in one place. See more features and schedule a demo now.