Competition and Competitive.
One word is your motivation. The other is your “edge.”
Each have value if you’re making a case for the DSO model. Especially related to the complexities you face across multiple dental practices.
The competition motivates you to stay a step ahead. Being competitive requires you to use all that’s available to keep your edge on the competition.
The business of data
You’ve long since understood that success in dentistry relies on:
- Clinical integrity
- Business intelligence
These days business intelligence is more than intellectual knowledge. BI, as it’s referred to, is the practical use of the vast amount of data you have available to you and your organization.
You determine the data that’s important, you do data analysis, and you turn that data into an actionable resource to manage and improve your organization.
The case for how your DSO can mine, measure, and maximize data to stay competitive
Mine your DSO database with a dental dashboard
Useful data is data you can first understand. And the quickest way to gain understanding is to filter it through a dental dashboard.
Picture an 1800’s miner. Kneeling in a stream, pan in hand, scooping up the riverbed, shaking the pan, and sifting the contents with an eye on any size nugget of gold.
Your data requires sifting too. The best dental dashboard will help you sort through a pan-full of information to locate the nuggets.
A dental dashboard:
- Provides scalable access to all your departments from clinical, to front-office, to operations, to marketing, to patient experience, and more
- Collects the important and actionable information you need to make decisions
- Clarifies complex data
- Enables you to evaluate strategies, systems, and workflows for improvement
A dental dashboard can be your most effective business tool. You’ll be better equipped to analyze, measure, and make decisions about the growth of your DSO or an individual practice.
Measure your DSO progress using contextual data
Reports have value when they’re in context. Often, your reports lack value because they are random in nature.
Limited data is common with standard dental practice management software. What’s lacking is a higher-altitude, big-picture perspective.
Better decisions and a more strategic level of planning are the benefits of data that’s filtered through a dashboard.
- Data is gathered at higher, more relevant layers
- Data can be more actionable and “intelligent”
- BI info helps you make more timely decisions
Progress is best measured in context. And a dedicated dental dashboard helps accomplish that.
Keep in mind that BI puts a contextual frame around your gathered data. It helps prevent being lost in the minutiae of facts and figures.
- KPIs (Key Performance Indicators) provide a measure that matters
- Historic and future projections provide a measure of trends
- Deep-dive insights provide a measure of what’s influencing your data so you can make real-time adjustments
Maximize your data to keep your DSO competitive
Sure, there are “sexier” things than analytics. Even so, you can’t deny their value to the performance of your organization.
Speaking of performance analysis, it’s common for an individual’s and an organization’s performance to improve when there’s an awareness of being measured. A dental dashboard gives you consistent monitoring capability without the appearance of being a watchdog.
- Observation guided by measurement helps improve core efficiencies.
- Before & after comparisons give you insight into the quality and timing of your decisions.
- Problem-solving accuracy increases across specific areas such as patient acquisition, patient retention, case acceptance, billing, insurance filing, etc.
Again, KPIs deserve a significant amount of attention. Because they’re measured in comparison to your goals you get a better perspective on overall performance.
KPI monitoring gives you insight into the small or sweeping changes that could be necessary to lift a specific practice or your entire DSO. It’s better to be the lead “dog” than always running behind the competition…right?
A big-picture is useful as it prompts action
Data “nuggets” sifted through a dental dashboard provide the actionable resources you need to plan. But more valuable are the performance enhancements you bring to your organization as a result of those data analytics.
Dentistry is indeed a business. Competing at the DSO level requires an advantage.
- Better processes and systems
- Better tools
Speaking of better tools with built-in capabilities for your DSO
The Jarvis Analytics platform helps assure that you’re tracking the important metrics and staying on-track with your goals as your dental practice and/or DSO grows and expands.
- Integrates seamlessly with your chosen practice management software/platform
- Presents the metrics you want and need in an easy-to-view dental dashboard that reduces data complexity for growing dental practices, dental groups, and DSOs
Experience Jarvis in action. Request a demo today!
Contact us for more information about data tracking that leads to profitability.
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