Monitoring business KPIs is critical not just for making sure the practice turns a profit, but to see any potential room for growth as well as to address any weak points. KPIs can also tell you the effects of any changes in your practice and will help determine whether or not these changes should be kept or revisited. The problem is there are just too many things to monitor and take note of in a business. What are the important KPIs every business owner should track?
Today, I discuss the three important KPIs your practice should track to grow in 2021. I share what to track for general dentistry services like hygiene. I explain why many appointments don’t go on schedule and what you can do to make sure your KPIs aren’t fluctuating due to no-shows. I also describe why I’m not fond of upfront payments for my patients and the benefits of in-office payment plans.
“If you make your goal for the first 3-5 months of 2021 to focus on these three key indicators, you will see your practice move in a better direction.”
This week on T-Bone Speaks Dentistry Podcast:
- Some of our upcoming events for 2021.
- How you can track KPIs with tools and software.
- The two things we track with hygiene services.
- The pre-appointment rate and why your schedule should be flexible.
- Hygiene pre-appointment and reappointment rates.
- The limitations you set for yourself if you ask patients to pay upfront.
- Why in-office payment plans are important for a dental practice.
Our Favorite Quotes:
- “Look at general dentistry as one vertical in a practice.”- Tarun Agarwal
- “Hygiene is the overall breadth of your general practice.” – Tarun Agarwal
- “The more hygiene you see, the more general dentistry you do.” – Tarun Agarwal
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