Top 4 Dental Practice KPIs

Running a dental practice without measuring metrics is a lot like driving a car blind folded. You probably won’t reach your desired destination and leave a path of carnage in your wake. Here are the top 4 key performance indicators your practice should be tracking:

This high-level metric measures what your team is producing on a daily/monthly/yearly basis. It’s the river of data that feeds into your dental practice that guides you to potential bottlenecks that could be holding back profitability.

Total Production

Once production is complete, payment has to be collected; you’re running a business after all! Your practice’s collection percentage is the percentage of production that is actually being collected. Healthy practices keep this KPI at 90% or higher.

Collection Percentage

Do you know how much money your practice is actually bringing in? This is one of the metrics most practices struggle to pinpoint. You can calculate this metric by multiplying your total production by the collections percentage.

Revenue

Dentistry has the highest overhead in the business with the average practice spending a whopping 74% of their revenue on overhead (salaries, rental spaces, equipment, supplies, utilities, internet, software etc). There are ways you can cut costs without cutting corners…

Expenses

If you’re using 3-4 different software and spending over $1,200/month to run VoIP phones, patient communications, analytics, payments etc. Switch to an all-in-one system, like Adit, and save up to 60% on your software bills.

What’s the Fastest Way To Cut Expenses?

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