It’s always good time to plan proper goals that will increase your dental practice’s productivity. But defining practical ones that accelerate your dental practice’s production and efficiency can sometimes be a challenge. Agree?
Well, with the new year fast approaching, you’re probably thinking about ideas to improve your dental office productivity. Here we have narrowed down 2021 goals for your practice. Have a look and plan accordingly and accelerate the growth of your dental practice.
Look at your production/collection:
The foremost step is to look at your practice’s production & collection for the last several months. With our custom dashboard, you can filter the metrics to overview the collections and productions of your dental practice clearly.
Tip: You need to see your net numbers – not your gross.
Now, increase that amount by 15% – 20%. This can exactly give you a clear idea of what goal to set.
Look at your profit margin:
Next, take a look at your income statement. What final profit are you earning? Profit margins in dentistry are all over the board, so you need to check what you’re earning.
Always look at the comparison between Total income vs. Profit. If you’re far below a consistent 30% profit for each month, what does your collection need to look like to get you to a 30% profit? This can give you another number that might make sense for your goal.
Tip: As an aside, if you do not have an up-to-date income statement of your practice, you deserve to have one. You must need this to make good financial decisions for your dental practice.
Don’t stress about picking the perfect goal
Here’s a secret: There is no perfect goal.
It’s always good to tell your staff that you have been looking at the business-side of your practice and that you would like to set a production & collection goal. You can also tell your team members that you want to see what they can do – and you need their help and support to meet these new goals. So, focus on the challenge and the fun of setting goals and achieving them.
Looks interesting and also eager to find out other performance metrics like this for your practice, then you must have our BPK Tech’s custom dashboard in your practice.
BPK Tech can help you analyze practice data, track progress toward business goals, and spot red flags of your practice. Always remember, improving simple tasks in your dental practice can truly help improve your practice’s productivity. Whether it’s appointment reminders or backing up your patient data, allow you to focus more time on the reason you got into dentistry in the first place: your patients.
We at BPK Technologies excel in delivering custom software which helps you improve the productivity, and efficiency of your dental practice. If you want to know more about our custom software solutions, please feel free to reach us at firstname.lastname@example.org or you can visit our website: https://www.bpktech.com/dso/