This whitepaper is based on real time benchmarking data for solo and group practices and shows the trends from 2007 to 2011. There has been no comparable work done in the past that uses real time benchmarking described here. One of the most controversial discussions that almost always elicits highly emotional response is the comparison between group and solo practices. We are living in a shaky recovery in the United States. Depending on who you speak with, you get different opinions about solo and group practices. However, we have based our analysis on over 7,000 installations that include both solo and group practices. This article is a work in progress and Sikka Software Corporation can provide more information and benchmarking data to those interested.
In one of the most difficult economic situations in 50 years, DSO/DPM IT departments around the country are reevaluating their platform strategies and looking for innovative ways to create competitive advantages. Business Optimization and Clinical Benchmarking should be judged by the return on investment (and not traditional practice management system evaluation considerations). However, given the focus on economy in 2012, DSO/DPM IT departments are judging any implementation by four additional financial criteria: initial Capital Outlay, ongoing operating costs, flexibility and return on investment. “Can we do more with less” is the mantra for CIOs and IT departments as the last 10 years have seen shrinking available budgets and higher demands for competitive advantage. However, after having squeezed every last drop from the IT solutions and teams since the last time economic tumble, 2012 brings incomparable financial constraints requiring innovative solutions.
Sikka Software Corporation is a Practice Optimizer® platform company supporting over 25 applications that help optimize a practice. Sikka Apps and Partner Apps cover accounts receivable, insurance claims, fee optimization, patient communication, recall systems, digital lab connection and collaboration, real time practice benchmarking, financial services, consulting and more. With thousands of installations in US, and Canada, Sikka Software is a market leader for optimizing dental practice. The data used in this paper is from about 8,000 practice locations. The trends and information in these graphs and the accompanying table are for information purposes only and may not be fully reflective of the actual trends because of the size of the data set. The distribution of these practices is across the entire United States and not concentrated in a specific region or geography .
By combining the capabilities of today's in-practice computer technology with an understanding of current practice management tools to uncover and highlight the key areas electronically where you can 'recover profitability' in your practice. Then all it takes is an emphasis on certain key aspects and a sharp focus on simple, proven strategies to deliver truly measurable results.
This article speaks about how you can use some high technology and some not so high technology tools and techniques to help you uncover and recover profitability in your practice. For readers who wish to get other articles, please write to . In the past articles we have discussed four reclaims: Profitability, patients, control and peace of mind. We have also discussed fee optimization, patient demographics analysis, and patient reactivations. In this article we will see what the real time trends are telling us about the treatments we present, the recall effectiveness, the production per visit and production of dentists and hygienists. We will discuss how 2010 is showing some mixed signs in the last 3 months.
Healthcare industry including dental and medical are slowest to get into a recession and slowest to get out of a recession. That is what we have been told. While we are in the middle of one of the greatest recessions in a century, what we can do to help our businesses, and reduce our stress levels is the focus of this article series. In this article we will start by sharing with you some basic facts based on national trends from over 5,700 practices that we are monitoring.+*0+*