664: Winning with Data – 7 Practice KPIs to Illuminate Practice Health – Robyn Theisen
The Dental Podcast Directory is Proudly Supported By:
Show Notes
664: Winning with Data – 7 Practice KPIs to Illuminate Practice Health – Robyn Theisen
It’s not just about tracking any numbers. You have to know which numbers are the best to make a real impact. When you track these 7 KPIs you can make a treatment plan to illuminate your practice health. Learn more in Episode 664 of The Best Practices Show!
Episode Resources:
- Subscribe to The Best Practices Show podcast https://the-best-practices-show.captivate.fm/listen
- Join ACT’s To The Top Study Club https://www.actdental.com/ttt
- See ACT’s Live Events Schedule https://www.eventbrite.com/cc/act-dental-live-workshops-306239
- Get The Best Practices Magazine for free! https://www.actdental.com/magazine
- Write a review on iTunes https://podcasts.apple.com/us/podcast/the-best-practices-show/id1223838218
Links Mentioned in This Episode:
To the Top Session: Data to Dollars https://www.actdental.com/event/members-only-climb-with-us-register-for-april-19-2024-ttt-study-club
Contact Gina: gi**@*******al.com
Main Takeaways:
Numbers don’t lie and it gives us a place to look to either celebrate our wins or look for opportunities.
Tracking makes you accountable.
Never charge $0.
Knowing the numbers tells you so much. And you can improve them.
7 KPIs to know: gross production, write off percentage, net production, collection percentage, new patient re-appointment percentage, diagnostic percentage, treatment acceptance percentage
Quotes:
“We need to know what our goals are. It gives us an idea of the standard of care, the things that we have in place, the beliefs that we have about who we say we are and are we doing them. And the way that we know is through numbers. Numbers don’t lie and it gives us a place to look to either celebrate our wins or look for opportunities.” – Robyn (2:03—2:30)
“Numbers are not emotional and team members often associate them with a negative or a positive and I really view them as they are. This is where we are starting and we have an opportunity to change that. If we think it’s a negative then what are we going to do to make it different? So that we look at it and we are happy about what the number shows us.” – Robyn (3:15—3:33)
“The first one is gross production…So the production is measuring your output potential or it is looking at everything that is posted to your ledger. What did we actually produce in a day. And so that is the first number to look at. And when I say charge the full fee, the other option would be to charge what your insurance…put on the ledger what your insurance fee is. And I think we miss a lot of information by not charging the full fee to really give us an idea of what our gross production or what our output potential is” – Robyn (4:25—4:56)
“There are inherent challenges with gross production. #1 not charging your master fee. A lot of people don’t know that means. Even if you’re 100% PPO and you’re listening to this podcast right now, you should be billing out your full master fee. Which in some cases might be twice what the PPO will allow and that’s ok because there may be a day where you’re not on the PPO and you don’t want your patients to say ‘Wow your fee when up 100% and now you don’t take my…
Subscribe to The Dental Podcast Directory Newsletter for Incredible Convenience
There are so many dental podcasts that publish great content, but it’s impossible to subscribe to all of them. Three days a week, we send an email newsletter with links to all of the recent podcast episodes published by dental-specific podcasts. To get this newsletter, type your email below and click subscribe.
Audio Disclaimer:
The audio available here uses the podcast creator’s RSS feed to pull the audio file. We do not download or host any of the audio files on our website. If the audio player is broken or the audio is no longer available, it may be that the podcast is no longer live or that the content was moved to another podcast host. If you find an error or need to make a change, please contact us by opening a support ticket. Click Here to Open a Support Ticket