What are KPIs and how do they drive the growth of your dental business?

You’ll appreciate that your business success and results don’t come out of thin air. They are a consequence of the strength and effectiveness of your everyday activities.

Your KPIs, which stands for Key Performance Indicators, measure your everyday activities. So you can test enhancements to your daily working systems and see whether the changes you make positively affect your KPI figures.     

The beauty of focusing on your KPIs and improving them is that it helps you achieve the double whammy of:

  • Enhancing your patient experience and care
  • Improving the success and driving the growth of your practice

When you are deciding what KPIs to measure in your dental business, consider the following:

Your goals

You may have a business goal to provide an exquisite patient ‘journey’.

In this instance, you will increase your chances of achieving this goal by measuring each step in this journey. So KPIs like the level of new patient enquiries converted to appointment, whether or not your new patients go on to book a second appointment and ‘convert’ to ongoing patients and so on.

You can sense how working on improving this type of KPI helps you achieve the double whammy above.

Your untapped potential

Maximising your patient experience and care starts with having patients attend regularly, to see both the dentist and hygienist.

So measure and improve your success in these areas. This includes KPIs such as your patient recall rates and also your ‘hygiene concentration rate’ – the amount of patients who will benefit from hygiene care and do visit the hygienist.

Of course, when you improve these numbers, it benefits your business too. Double whammy nailed.

Do all your existing patients know about all your existing services? Accessing untapped potential can sometimes be as simple as making sure they do.

Your patients’ priorities

One school of thought suggests that when you look after what your patients care about, the rest will follow.

For instance, I have seen dentists measure the % of patients seen on time.

So consider how your patients evaluate their experience with you. Then measure it.

You’ll need to get your team involved in defining, measuring and improving your KPIs.

You’ll find it’s well worth the effort when you start to have productive conversations on the improvements you can make.

KPI improvement is a passion of mine, so do please contact me for more information on 01249 712074 or via email dee.gerrish@cvag.co.uk. Alternatively, post your query in the box below and I’ll be happy to reply.

You can also take a look at this page with video which explains more about the KPI improvement process. The video is just 4 minutes long.

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Original Article: What are KPIs and how do they drive the growth of your dental business?
Clear Vision

About Clear Vision

The traditional method of setting goals and gauging the success of a dental business does not automatically provide you with what you need and want. As the dental business owner, it puts you last in the queue. Clear Vision believes that your business should deliver the lifestyle you want. So when you work with our friendly and vibrant team of accountants and business advisers, it starts with you. What you want. How you want to create a difference in your life. Tell us your goals and we’ll work to help you develop a strong, positive dental business which delivers the life you want for you and your family. We have worked with dentists all over the UK since 2001. Dentists who share the same challenges and issues as you. And we’ve seen what factors will really make the difference in improving your results and increasing your rewards. So you benefit from what we know works and doesn’t work. For a taste of the insights we share check out our blog for dentists: www.clearvisiondentalblog.co.uk. We’re ready to share our experience and insights with you. Simply call our friendly team on 01249 712074 for an informal discussion. You’ll have our ear, our understanding and the considerable expertise which comes from successfully improving the lives of dentists like you.