When it comes to dental practices, the strategies to grow successfully depend on the effective planning of skills in every aspect of practice.
For dentists to have profitable practices, they need to understand and keep track of a few dental KPIs. It includes overall production per day, the percentage of collections acquired, production by the provider, and the amount of time required to collect the payment of the completed procedure.
Why is Dental Production Important?
Dental Production is one of the most critical factors in dental practice recovery. Right-level productions lead to a profitable practice. Revenue comes from production, which ultimately creates income. Any practice that produces the right level of revenue, cash, and income has the potential to survive and maintain success in the future.
To increase the level of production, you must train yourself and your team to analyze and keep track of your production, and how they affect your bottom line. Production depends on various practice variables, such as your schedule and team members’ efficiency. The production numbers can vary gradually, and these practice variables can make a huge difference between losing or making thousands of dollars.
To measure production, you can break it down by each provider. This helps in analyzing how much revenue is generated by each doctor. This way you can plan your schedules more effectively and maintain consistent steam of production.
Ways to Generate Production
Systems and people are the two main components that together contribute to dental production. Systems that are continuously upgraded, in terms of hygiene, customer services, case presentation, insurance management, collections, and so on, have high levels of consistency.
Let’s analyze the ways through which you can generate better dental production and make progress.
Production is Key!
For your practice to succeed, focusing on production alone and leaving the other things on staff won’t bring fruitful results. Make yourself familiar with the revenue cycle, and actionable plans to improve your dental billing and collections percentage. Once it is done, you will be one step closer to having a successful dental practice.