Building Your Dream Practice

It's 2023 and the time to take control of your practice is now.  In this Blog you'll find sage advice from experienced Dental Practice Coaches that have given not just hope but direction, focus and answers to Dentists that needed a boost to start or reimagine their practice.  Browse our posts for some tips and then give us a call for a free consultation.

15 Key Performance Indicators to Measure the Success of a Dental Practice

Sep 13, 2023

1. Patient satisfaction score: This KPI measures patient satisfaction and loyalty. It can be measured using surveys, feedback forms, or online reviews.

 

2. Appointment cancellation rate: This KPI measures the percentage of appointments that are cancelled by patients. A high cancellation rate can indicate scheduling issues or dissatisfaction with the practice.

 

3. Number of new patients: This KPI measures the number of new patients that the practice acquires each month or year. A high number of new patients can indicate strong marketing efforts or positive word-of-mouth referrals.

 

4. Average patient lifetime value: This KPI measures the average revenue generated by a patient over their lifetime. It can be used to evaluate patient retention and loyalty.

 

5. Treatment acceptance rate: This KPI measures the percentage of treatment plans that are accepted by patients. A low acceptance rate can indicate communication issues or dissatisfaction with treatment options.

 

6. Production per visit: This KPI measures the average revenue generated per patient visit. It can be used to evaluate the effectiveness of treatment plans and the efficiency of the practice.

 

7. Collection rate: This KPI measures the percentage of outstanding patient balances that are collected by the practice. A high collection rate can indicate strong financial management.

 

8. No-show rate: This KPI measures the percentage of scheduled appointments that result in a no-show. A high no-show rate can indicate scheduling issues or lack of patient engagement.

 

9. Patient referral rate: This KPI measures the percentage of new patients that are referred by existing patients. A high referral rate can indicate high patient satisfaction and loyalty.

 

10. Average time in the chair: This KPI measures the average amount of time that patients spend in the chair for treatment. It can be used to evaluate efficiency and patient experience.

 

11. Overhead rate: This KPI measures the percentage of practice revenue that is consumed by overhead expenses. A low overhead rate can indicate strong financial management.

 

12. Percentage of unscheduled time: This KPI measures the percentage of time that the practice is unscheduled. It can be used to evaluate scheduling efficiency and patient demand.

 

13. Treatment mix: This KPI measures the percentage of revenue generated by different types of treatments. It can be used to evaluate the effectiveness of marketing efforts and identify areas for growth.

 

14. Staff productivity: This KPI measures the productivity of staff members, such as the number of patients seen per day or the amount of revenue generated per staff member.

 

15. Accounts receivable aging: This KPI measures the age of outstanding patient balances. It can be used to evaluate the effectiveness of billing and collections processes.