Delivering WOW...Creating Massive Results for Dentists
Delivering WOW...Creating Massive Results for Dentists
This Blog helps dentists to get MASSIVE results through developing a unique culture and detailed systems. You will learn to create a profitable, fun practice, where the dentist inspires the team to WOW the patients to create "Raving Fans".
Dr Anissa Holmes

Here's How Testing and Measuring and Using Metrics Will Skyrocket your Success

Here's How Testing and Measuring and Using Metrics Will Skyrocket your Success

9/8/2015 5:08:49 AM   |   Comments: 0   |   Views: 180

Many dentists believe that metrics are our accountant's job, or perhaps something that has to be done to fulfill statutory tax obligations.  While the service that we provide is a dental service, we are also running a business. In doing so, we need to ensure that the business is growing, so that we can continue to reinvest in technology and services to better serve our patients, develop our team, purchase new equipment if we choose, give back to the community, and take home an income to provide for our families.  

The reason why we test and measure is that things that get tested improve.  We are also able to make better decisions in terms of which marketing strategies are best, if we can afford a piece of new equipment, or even if the "PPO" strategy to grow our business makes sense.

Key metrics for dentists to track monthly are: 

  • payroll expenses
  • non-payroll expenses
  • dental lab fees 
  • supplies
  • rent
  • overhead and profitability percentage

Here are some key metric percentages:

  • staff salaries (25%-30%)
  • lab fees (6%-8%)
  • facility (5%-7%)
  • dental supplies (5%-8%)
  • marketing (5%-7%)
  • operating expenses (10%-12%)

 You can also track the following non-financial metrics:

  • number of new patients
  • number of calls received for each procedure vs the percentage scheduled
  • number of new patients per referral source- including percentage from existing patients and social media
  • number of procedures completed per service category
  • percentage of treatment plans converted 
You can track by internal tracking sheets, excel sheets, quickbooks, and whiteboards.
Different metric sources give measurable information so that you can identify weak points.  Once you know your weak spots you know which areas to focus on and you will receive massive growth!

Dr. Anissa Holmes, a Global leader in Social Media Marketing, is a Pioneer in the area of Cosmetic and Family Dentistry. She is constantly using innovative ways to reach out to patients to break down fear that many have when going to the dentist.  Dr. Holmes, through her blog Delivering WOW, shares tips for designing a unique practice culture to deliver a "Wow" patient experience every time, strategies to triple new patient numbers, and well as strategies to build an amazing team.

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