3 Things That Can Help Measure a Dental Practice’s Success
Patient retention and appointment attendance are two critical components of successful practice management in the dental industry. Keeping track of the annual patient value and broken appointment percentage can be a great way to measure the success of your practice. In the previous blog, we discussed how these two metrics could provide insight into the overall health of your course and how to use them to make informed decisions about improving your practice.
In this blog, we will discuss the different metrics dentists can use to measure their practice’s success and efficiency.
Number of Whitening Procedures per Month
Teething whitening procedures are becoming increasingly popular and, as such, can be a great source of revenue for any dental practice. Many patients are turning to these treatments to improve their smiles. As such, there are several ways that a clinic can benefit from offering these services.
Dental accountants have noted that patients with teeth whitened are more likely to be involved in their oral health and stick to recommended protocols, such as scheduling regular teeth cleanings. Studies have shown that when people whiten their teeth, they are more likely to be actively involved in their oral health.
People who have had their teeth whitened are more likely to brush and floss regularly, and they are more likely to schedule routine teeth cleanings. It is because they are more aware of the importance of taking care of their teeth and want to maintain the results of their whitening procedure.
By tracking the number of whitening procedures per month, dental practices can identify which patients are most likely to need more frequent treatments. This information can then be used to target marketing efforts, focus on the most profitable patients, and develop strategies to increase the number of whitening treatments.
By doing this, dental practices can create more efficient and effective whitening plans tailored to each patient’s needs. It will help ensure that the clinic offers the most effective whitening treatments and that each patient receives the best care possible. Additionally, tracking the number of whitening procedures per month can help dental practices identify trends in patient behavior and adjust treatment plans accordingly.
Aged Accounts Receivable
Dental accountants are urging their clients to stay up to date with their aged accounts receivable, which are accounts that have been outstanding for a certain period, usually 30, 60, or 90 days. By keeping a close eye on these accounts, dentists can ensure they are not losing money due to late payments or non-payment.
Accounting for aged accounts receivable is integral to running a successful dental practice. It helps to identify any patients that are delinquent in their payments and any billing issues that may be occurring. Accurate records of aged accounts receivable can also help dentists better manage their cash flow.
As a dental practice, you must consider many metrics to ensure that you provide the best possible care for your patients. One of those metrics is hygiene production.
You should track your hygiene production as a percentage of your total office production. It will give you a good idea of how much time you spend on hygiene-related tasks and how this compares to the rest of your work. Tracking your hygiene production as a percentage of your total office production is an excellent way to ensure that you spend enough time on these critical tasks.
Understanding the aged accounts receivable and whitening procedures per month can be a valuable asset for any dental practice. By utilizing this information, a dental practice can better understand its financial and operational performance and make improvements where needed. This knowledge can help them achieve success and improve the quality of care they provide.
Of course, you also need the help of seasoned dental accountants, and there is no better team than Ash Dental CPA. We have the expertise and experience to understand the ins and outs of a dental practice, which will aid us in creating your financial statements. So, contact us now for more information!