3 Tips on Optimizing Your Dental Practice Operations with A Dental Dashboard

How to run a successful dental practice?

The business of dentistry involves more than just patient care. Hence, dental professionals often ponder this question, especially in handling the business side of dentistry. You have to be more than a dentist and run an efficient business to succeed in your practice. 

With dental technology significantly advancing over the years, businesses can easily leverage their workflows using emerging technologies. Here are some tips to be aware of:

1. Obtain reports to track performance statistics 

Regardless of the industry where you belong, managing a business involves stress and headache. This is common because business owners have a lot on their plate but have too little time on their hands. Thus, a system that can streamline all the areas of your dental practice effectively and efficiently is a necessity.

One of the most important ideas to improve dental practice is identifying, analyzing, and implementing both operational and clinical KPIs. In this highly competitive industry, using balance and statement sheets to know your business’s profit and loss is no longer sufficient to understand your dental practice’s effectiveness. Analytics-driven reports that you can quickly gather empowers you to make timely and smart business decisions.

Additionally, it frees you time to go over financial reports and interpret various metrics. A data analytics platform built specifically for the dental industry can generate these reports to analyze and identify relevant KPIs, such as:

• • • Production

• • • Clinical days worked per month

• • • Accounts receivable

• • • New patients per month

• • • Total patients seen per month

• • • Total procedures performed

2. Improve financial performance

Having a business intelligence (BI) dashboard specific to the dental industry is crucial for decision-making and running your practice. You get connected and instant access to your financial data as well as practice and marketing. It shows you the areas where you need to cut expenses and reduce costs. With this, it can be easier to track what product or service is not selling well, then consider eliminating it from your current offerings.

You can take advantage of business intelligence by identifying and eliminating inefficiencies to optimize profits further. Since it gives you instant access to data, your staff are likely to become more productive. Thus, selecting a cloud-based dental practice management software may be more beneficial.

You no longer have to juggle doing administrative duties and attending to your patients simultaneously. Instead, you can leave some financial work on the system and focus more on the latter. It not only enhances your clinic’s financial performance but also streamlines your overall dental practice operations.

3. Understand your data

Data itself is not useful until correctly stated and analyzed. As though it is hard to understand sometimes, there are a few ways to quickly get a hold of what is going on throughout your dental business. A better way to understand data is through dental data dashboards that bring together relevant and actionable data.

At a glance, you can see how many patients you are treating, the effectiveness and profitability of your treatments, trends, turnovers, and many more. This is one of the best ways to run your dental practice as it ultimately affects decision-making and helps your practice grow. If you wonder how to make a dental office more efficient, a dental dashboard is the answer.

On the other hand, Statista’s research shows that dental practice management software’s total revenue amounted to 1.7 billion U.S dollars in 2018. Additionally, their forecast predicts that these digits will increase by around 4.3 billion dollars by 2027. This can also be beneficial for your dental practice.

Dental practice operations: Optimizing through data analytics

Being a dentist and business owner at the same time can be a complicated job, considering that this profession can be a challenging career. Luckily, with the help of software solutions, dentists can reduce the challenges they face when managing their clinics.

From acquiring new patients to increasing revenue, they can leverage data analytics and maximize it, however, they want. Besides, it helps with the financial aspect of your business and streamlines operations – which is a need for most dental practitioners. Hopefully, these dental office management tips can help you further improve your overall clinical operations.