Since 2000 there has been an increase in the average transaction year over year. Although the growth slowed during the recession, this trend has started to reverse in 2017 and 2018.
In this podcast, we cover part two of the nationwide averages of 10 key metrics that every dental practice should know.
In this podcast, we cover nationwide averages of 10 key metrics that every dental practice should know.
It’s always an excellent idea for dentists and team members to know what numbers are making an impact on their practice’s bottom line and to have some numbers from across the U.S. that they can use as a comparison to see how well, or not so well, they’re really doing.
As IgniteDA co-founder Kevin Henry often reminds dentists and team members during our monthly webinars, you aren’t just running a practice, you’re actually running a small business. Knowing your numbers is a key part of keeping that business successful.
“Who may we thank for referring you to our practice?” I asked in a friendly voice. “I met your doctor at his ice cream social” was the reply. I was the marketing director and I knew we had never participated in an ice cream social. When I asked the doctor, he said he had no idea what the patient was talking about.
About an hour later, another call came in with the same answer. “I met your doctor at his ice cream social.” I asked the doctor again and he still didn’t have any idea what the patients were talking about. There was even a third person that called.
Ahhhh, we all love new. We love that new car smell. We love a new spring day with the right amount of sunshine. New clothes, new shoes, new house! New is exciting!
New patients in our practice means growth … and growth is exciting. When new patients receive impeccable customer service in our office, they leave excited. Creating an atmosphere in our practices that fosters great customer service, a friendly team, and communication where patients feel comfortable and welcomed is a tall order but absolutely necessary to set ourselves apart from the other offices around the corner.
For any business to be successful, it must know and grow its customer base. Understanding even basic demographics of its customer base helps a business develop effective marketing strategies, and asking the hard questions about why a client switches to a competitor can help a business determine how they can improve their client experience moving forward. When a dentist commits to running his or her practice like a business, these statistics will be among those that he or she needs to know on a consistent basis. Understanding the Active Patient Base in the practice will shed a bright light on the facets that measure the success of your business.
Check out our webinar featuring dental expert Kevin Henry in an interview with Amol Nirgudkar, Co-founder and CEO of Patient Prism, for 4 steps you can take to increase the number of new patients without also increasing marketing spending. They discuss easy to implement strategies to help your front desk succeed. Click here to watch the recording.
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So how is your practice doing when it comes to the number of active patients on your books? If your practice anything like the national average, your numbers are on the rise.
Despite tales of patients who may not be returning to the practice or those who are falling off the books for reasons such as relocation or inactivity, Sikka Software data suggests that today’s dental practice has more active patients than the dental practice at the start of this decade.
We recently combed through data from Sikka’s collection of numbers taken from Sikka Software that has been logged from more than 12,500 dental practices from around the United States. For definition’s sake in this article, an active patient is a patient who has visited the practice in the last 18 months.
If there is one thing that is taught (or at least should be taught) to us as dental patients at a young age, it is that it is important to visit the dental practice every six months for your check-up.
To those of us in the dental industry, it seems like a common sense thing, right? Periodic exams are necessary to keep track of a patient’s oral health. However, we all also know that visiting the dentist is not always at the top of a patient’s mind.
How are dental practices doing with getting their patients in for their six-month recall appointments? We recently extracted data from Sikka Software’s collection of numbers that has been collected from more than 12,500 dental practices from around the United States over the last seven-plus years. Here are the numbers of periodic exams per month, per practice…