Art Anderson shares this week’s tip...      
 
Measuring Success
 
The following guidelines will help you determine if your practice is on the road to consistent success according to Cynthia McKane-Wagester who is president/founder of Wagester Associates:  
 
DOCTOR STATISTICS  

1. There is a consistent flow of new patients–at least 10 to 15 per month in a fee-for-service practice.
 
2. The retention rate is 90%.
 
3. Recare effectiveness is 85%.
 
4. At least 98% of fees are collected.
 
5. There is an 800 to1000 active patient base per dentist.
 
6. The acceptance rate of treatment recommendations is at least 80%.
 
7. The internal and external marketing plans are producing results.
 
8. The entire dental team is working at peak efficiency and is directed towards practice goals. 
 
HYGIENE STATISTICS  

1. Recare maintains an 85% effectiveness rate.
 
2. A full 100% of patients pre-appoint for their continuing care.
 
3. Up to 75% of patients are referred to a more frequent recare return.
 
4. At least 50% of patients are referred to a more intensive level of periodontal treatment.
 
5. Less than 10% of appointments are cancelled or become no-shows.
 
6. Retention of patients in the hygiene department is at least 90%.
 
7. Time is power blocked so that the hygiene appointments produce $800 to $1,000 plus in production each day.
 
When you use these standards to monitor your practice, you will receive the earliest warnings of potential trouble. You can then make educated decisions that will immediately affect the practice’s growth and not allow inappropriate reactions to enter into your decision-making.