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I n s t r u c t o r : M i r a n d a R e e d

Master the Metrics that Matter

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Speaker Disclosure

Miranda Reed is an employee of Henry Schein One.

• Tracking Key Performance Indicators

• Important Numbers to Know

• Dentrix Practice Advisor Report

• Dentrix Daily Huddle

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Agenda

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Polling Question Results

My biggest stress in my practice is:

Not enough time: 43%

Managing insurance: 16%

Keeping patients active (including hygiene): 15%

Treatment Case Acceptance: 13%

Holes in the schedule: 7%

Cash Flow: 6%

Tracking Key Performance Indicators

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“What gets measuredgets improved.”

— Peter Drucker

• Blood Pressure

• Waist Size

• Weight

• Cholesterol

• Fasting Blood Sugar

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Health Numbers

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• Production

• Collections

• Schedule Optimization

• Continuing Care

• Patient Analysis

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5 Practice “Health Number Areas” To Know

• Total Production, Average Daily and Hourly

• Adjusted Production

• 75-85% Dr Production comes from Hygiene Patients

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Production

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Production

65-75%

25-35%

Total Practice Production

Doctor Production

Hygiene Production

• A/R

• A/R to Production (.5 – 1.5)

• Over 30, 600, 90

• Insurance Aging

• Over-the-Counter Collections

• Collections from Insurance

• Collections from Patients

• Payment Agreements

• Adjustments

• Credit Balances12

Collections

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• ASAP List

• Perfect Day Scheduling or Blocked Scheduling

• Dentist or Hygienist

• Hourly production

• Unfilled hours

• Revenue lost from unfilled hours

• Daily Huddle

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Schedule Management

• Number of active patients in Continuing Care

• Preventive vs. Perio

• Patients reappointed in Hygiene

• # of patients due per month

• # of patients due and scheduled

• Patient Education

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Hygiene / Continuing Care

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• # of active patients - last 18 months

• # of new patients

• Where referred from?

• How many new patients referred by existing patients?

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Patient Analysis

• 1.5 million, single general dentist practice

• Computerized, using cameras, digital X-rays, etc.

• Frustrated with high overhead

• Team overwhelmed not having time to do most critical work

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Case Study: Denver, CO Dental Practice

A few things discovered:

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Sticky Note Syndrome

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Using Excel to Track Key Numbers

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Active Patient Base

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Production

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Dentist Totals

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Hygiene Totals

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Case Acceptance

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Collections

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Accounts Receivables

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New Patient Analysis

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Continuing Care

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Schedule Management

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Running the Practice Advisor Report

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Team Tracking Charts or Computer for Daily Huddle

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• Daily tracking of progress towards monthly goals

• How did we do yesterday?

• What does today look like?

• What does the rest of the month look like?

• Key conversations to have with patients coming into the practice

• Saves on average 90 minutes a day

• Even for those not having an actual huddle meeting

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Dentrix Daily Huddle

• Where to fit in emergencies

• Who is due for major X-rays

• Unscheduled treatment plans

• Unscheduled continuing care

• Unpaid balances

• Email addresses

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Daily Huddle

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• Updated consents

• Lab cases ready

• Birthdays

• Medical alerts/patient notes

• Other family members without future appointments

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Daily Huddle

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• 10-15 minutes

• Look ahead for opportunities in schedule

• No better time than when patient is face-to-face

• Decide who will ask top 20% patients for referral

• Are you asking your raving fans to:

• “Like” your Facebook page

• “Share” their experience on Facebook

• Google, Yelp reviews

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Daily Huddle

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Social Media Impact

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Running the Dentrix Daily Huddle

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“What’s missing is often good measurement and a

commitment to follow the data.”

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Measurement and Commitment

— Bill Gates

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Practice Education – Dilution of Knowledge

Inadequate Initial Training

Don’t Use

=

Don’t Retain

Turnover Every 12-18 months

New Team Member Trained

by Existing Team Member

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• Free 30-minute Practice Advisor assessment

• Customized, one-on-one analysis of your practice’s KPIs

• Can identify possible data inaccuracies

• Identifies key areas to take your practice to the next level

• Dentist needs to be present for the phone assessment

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• Understand your practice’s KPIs

• Use the Dentrix Practice Advisor

• Use the Dentrix Daily Huddle

• Schedule a Practice Advisor Assessment

• Utilize new features

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Keys to Your Success

Email questions:

practicedevelopment@henryschein.com

Important Links:

www.dentrix.com/practiceadvisorreport

www.dentrix.com/products/dentrix/whats-new

www.dentrix.com/freepaassessment

www.Dentrix.com/upgradetraining48

Thank you for attending!