Tooth & Coin Podcast
Tooth & Coin Podcast
Welcome to the Tooth and Coin Podcast - a revamping of the Start Your Dental Practice Podcast by Jonathan VanHorn, CPA/ABV. He is now joined by Joseph Rugger, CPA/CGMA to explore the ins and outs of running a dental practice from a CPA's perspective.
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JVanHorn
JVanHorn

Simple 5 Step Guide to Tracking Your Practice's KPIs.

7/1/2014 1:48:57 PM   |   Comments: 0   |   Views: 2038


I've spoken with hundreds of dental practice owners.  Some have been successful, other's... not so much. Have you ever heard this before?
"I know that I could be doing better, but I'm just not sure where to start."
Hell, have you said that before? Typically, the thought process that dentists use at this point is to either hire a consultant or do nothing.  Both have their own set of problems.

Problem #1 - Hiring a Dental Consultant

  • They are typically very expensive.
  • There are some that aren't nearly as good as others.
  • Some specialize in certain areas like hygiene, while others specialize in processes like scheduling.  So how do you know where to start?

Problem #2 - Doing Nothing

I've seen too many dentists get caught in the squat.
Don't get caught in the squat. 
"What is he talking about?"
Getting caught in the squat!  It is the number one problem dentists face today.  It's an old business analogy, but it is incredibly relevant to dentists. The old adage goes:
If you put a frog into boiling water, the frog has the strength and speed to jump out of the boiling water before dying.  However, if you put the frog into a pan of water at room temperature and slowly turn up the temperature... the frog will get caught in the squat.
The dentist gets comfortable and doesn't notice the rising temperature in his practice.  He focuses on the wrong things in order to reach his own conception of success. 

The Solution to Both Problems - Tracking your dental KPIs

Tracking your KPI's can help spot that rise in temperature.  Obviously this is the starting block, not the finish line.  But the process goes like this:

Click here to continue reading the five step guide:
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