the business of dentistry kpis - d4cpracticedevelopment.com
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The Business of DentistryKPIs
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What type of Business is Dentistry?
It is the Business of Relationships!
Definition of a Relationship: Two parties agreeing on the same course of action.
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The Relationship Effect
The relationships we establish and grow internally amongst our teams
and with patients and families, affects every business metric.
• We want the two parties agreeing on the same course of action
happening more often than not.
• We are not going to reach 100% across the board, it is humanly
impossible.
• However, if a business metric is not optimal or at best practice, we
have an opportunity to grow.
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What does business growth mean to us?
It means that children are receiving the care our
providers are recommending.
Shared Purpose: Helping children achieve a lifetime of
great oral health.
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The Perfect Patient
The Perfect Patient/Parent:
• Is on time to appointments
• Never misses an appointment
• Accepts our recommendations- Recare every 6 months, treatment needs,
orthodontic consultations
• Pays on time and with a smile
• Provides excellent reviews
• Refers friends and family
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How do we know we are growing or have an opportunity?
We analyze Key Performance
Indicators.
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The D4C Patient Lifecycle
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New Patient Growth
Patients/Parents referring friends and family.
• 5000 Active Patients x 15% attrition rate: 750• Grow the patient base by 3% New Patients • 5000 x 3% growth rate: 150• 15% Lost + 3% Growth Rate= 18% • 750 Lost + 150 Growth Rate= 900 Patients• 900 ÷ 12= 75 patients/month
Best Practice is 18% YOY growth.
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Retention
Patients/Parents understanding the value of hygiene care.Once a patient receives a hygiene service in the practice (D1110 or D1120) a due date is attached to their record. From there, they fall into 1 of 3 categories below.
Patients Scheduled (Scheduled from Today’s Date to a Year from Today) + Patients Future Due (Due Date from Today’s Date to a Year from Today)+ Patients Past Due (Due Date from One Year Ago to Yesterday)= Total Active Patients
Patients Scheduled ÷ Total Active Patients × 100%= Retention %
Best Practice Retention is 85%.
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Case Acceptance
Patients/Parents accepting the doctors’ diagnosed care.
Calculation (Codes D1351 to D9999):Diagnosed Treatment + Completed Treatment= Total Treatment
Completed Treatment/Total Treatment= Case Acceptance
Best Practice Case Acceptance is 85%.
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Collections Ratio
Parents understanding and adhering to the financial investment in their child’s dental care.
Net Collections ÷ Net Production= Collections Ratio
Best Practice Collections Ratio is 98%.
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What drives the KPI?
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How Is Orthodontics Different?
The Perfect Ortho Patient/Parent:
• Comes in for first visit at age 7 or when recommended by pediatric dentist
• Accepts Treatment Recommendation or follows observation
recommendations and appointments
• Pays on time and with a smile
• Is on time to appointments
• Never misses an appointment
• Follows care instructions to limit emergency
appointments and treatment delays
• Provides excellent reviews
• Refers friends and family
• Wears their retainer!!
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Utilizing OrthoKPIs
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Next Steps
1. Elise to send out retention and case acceptance data sorted; red, yellow, green2. Create an action plan to focus on for May with your teams3. Utilize your resources!
a. https://d4cpracticedevelopment.com/recare-strategy/
b. https://d4cpracticedevelopment.com/case-management-strategy/
4. Partner with your Field Support Manager and strategize on training & development5. Coming soon is a toolkit for Pedo Case Acceptance; Ideal Case Presentation, Role Playing Tools, Doctor’s Involvement, Scorecard