In order for your practice to run efficiently and be as profitable as possible, you need to have a clear picture of how your practice is performing, and you need to understand what to improve in your practice and how to do it. With the Dentrix Practice Advisor, it’s easier than ever for you to find the information you need.
In the Practice Advisor Report, you can view key performance indicator (KPI) statistics for five important areas of your practice: production, collections, continuing care, schedule management, and new patient analysis.
The Practice Advisor Report compares your practice’s KPI statistics to industry-standard benchmarks based on a typical general practice with one doctor. The benchmarks list the ideal range for the KPI statistics and show you where your statistics should be. When your KPI statistics fall below the benchmarks, the report flags the areas where your practice is under-performing and refers you to recommendations to help you improve your profitability.
If your practice is not a typical general practice with one doctor, you can customize the benchmarks in the Practice Advisor to use the numbers from your consultant or accountant or your practice goals as the benchmarks. That way, the benchmarks make sense for your practice and you can see how well you are measuring up to your goals.
For example, let’s say you’re the office manager of a single-provider practice with an active patient base of 1,500 patients. According to the benchmark range in the Practice Advisor, your practice’s average daily production should be between $2,500 and $4,700. If your average daily production is only $2,000, the Practice Advisor Report will add a flag on the report to indicate that your practice is performing below the benchmark range and it will refer you to a list of recommendations for improving your production.
The recommendations in the Practice Advisor Report were provided by leading industry consultants at The Pride Institute and Jameson Management. When you change your office processes or make adjustments to your practice routines based on those recommendations, you’re likely to see improvements in your KPIs and in your practice profitability and efficiency.
Accessing Practice Advisor
In the Dentrix Office Manager, click Analysis and then click the Practice Advisor button. In the Practice Advisor dialog box that appears, click Practice Advisor Setup to specify how your active patient base will be calculated, which providers will be counted as dentists and which as hygienists, how payment and adjustment types will be calculated, and other settings that are appropriate for your practice.
Once the report is set up, click Practice Advisor Report to generate the report. If you want to share your KPI statistics with your consultant, accountant, or someone else who needs to monitor the health of your practice, you can enter an email address when you generate the report and have a copy automatically emailed to the appropriate people.
With the Practice Advisor, you can see the areas where your practice is doing well and where it needs to improve. Then, based on the suggestions provided in the report, you can implement changes in your office to increase profitability. You don’t have to search through several different reports to find the KPI statistics for your practice and you don’t have to come up with ways to improve—the Practice Advisor does it for you. Simply put, the Practice Advisor makes your job easier.
To learn more about the Dentrix Practice Advisor, download the Practice Advisor Getting Started Guide, which introduces the Practice Advisor, shows you how to set it up, and gives you tips for using the report.
You can also visit our website to find out more about the Dentrix Practice Advisor and how it has helped offices improve their profitability.
If you are interested in learning about the Practice Advisor, new features in Dentrix, or eServices that can help you improve your practice profitability, visit our training section to learn about available training options.