More than likely, you sat down with your team at the end of December or possibly the beginning of January, talking about your goals and what you wanted to accomplish for the new year. As we just finished the first quarter, how is everyone doing? Which KPIs are you tracking, and how do those numbers stack up with the previous quarter’s?
Some of you reading this might think, “What is a KPI” (Key Performance Indicator)? You’re probably tracking collections and production. How about other numbers you should measure?
Here are a few KPIs you should pay attention to:
Active Patients
- Have you successfully reactivated the patients who went missing during the pandemic?
- Is your hygiene schedule full and pandemic patients reactivated?
- Are you tracking the number of new patients and where they're from?
Production
- Are you tracking case acceptance?
- Are you scheduling efficiently?
- Do you have a priority call list for last-minute cancellations?
Collections/Revenue
- Are you collecting at the time of service?
- Are you having each patient sign a treatment estimate?
- Is the person checking out and collecting the money the right person for that role?
Overhead
- Is your overhead in line with making a profit and meeting your goals?
- Are you saving money on supplies, researching, and cost comparing?
There are many more KPIs you can track to meet your practice’s and individual needs. Ensure you’re tracking KPIs to confirm you’re meeting your goals and are profitable. It’s essential to share numbers with your team, too. Knowledge is power.
