The acceleration of digital transformation (especially during Covid-19) has placed data at the center of every DSO.
Several factors are at play, including the rise of cloud-based, practice management technologies (such as Dentrix Ascend, Denticon, Cloud 9), and highly-intelligent marketing and finance systems.
High-growth DSOs have access to high-volume, high-velocity, and a wide variety of data, making a data analytics platform a requirement for operating in today’s competitive dental market.
Harnessing the power of data goes beyond investing in the right platform. DSOs without a comprehensive data strategy in place will have issues making sense of all the data and will risk falling behind their competitors.
Competitive Advantage of Data Analytics
The dental businesses generate huge datasets with insights spread across multiple systems that house operational data, patient information, clinical data, practice capacities, hygiene, marketing, and more.
They face several challenges coming from all angles, including rising costs, an overcrowded market, and increased pressure to maximize the number of patients seen each day.
The dental industry has long been plagued by failures in putting data to good use, as often, data is unavailable, inadequate, or unusable. Privacy laws like HIPAA and outdated systems have made it difficult to connect disparate data sources that can reveal useful patterns and trends.
However, the amount of data generated by dental practices is unprecedented. It’s DSOs that can quickly extract usable, accurate insights that stand to gain a competitive edge.
Here are a few areas where the use of a data analytics platform delivers significant gains to a DSO:
- Cost Reduction and Revenue Generation:
Real-time data analytics platforms like Jarvis Analytics enable DSOs to identify and fix inefficiencies, streamline processes, incorporate feedback, and improve workflows—enabling organizations to avoid waste and even increase profits by discovering hidden potential and opportunities. - Better Decision-Making:
Data’s primary value comes from its ability to facilitate smarter decision-making—fast. DSOs can now analyze a ton of information in near real-time and make strategic decisions based on accurate data. - Improved Productivity and Operational Efficiency:
Data analytics platforms also allow DSOs to come up with new and improved solutions for complex business problems. This benefit comes from the ability to identify opportunities, create operational efficiencies, and incorporate changes as insights are uncovered. Data analytics allows DSO leaders to avoid the guesswork associated with being remote from the location, and instead, makes it easy to get everyone on the same page with a smart data collection and presentation.
Why is Data Analytics Too Important to Ignore?
DSOs looking to take their data analytics capabilities beyond pretty dashboards and enhanced reporting must prioritize organization-wide data literacy and invest in the right tools.
If there’s any question as to why a data analytics platform is important, here’s a quick look as to how DSOs are already using them to improve business outcomes.
Cost Savings
Keith Miller, President, and CEO of Partners for Dentists, believes that DSOs can save millions of dollars on software and IT costs just by using a data analytics platform like Jarvis Analytics.
Keith’s previous DSO spent millions on business intelligence and IT costs, and he was eager to find a way to reduce these expenditures when he started Partners for Dentists.
A dental dashboard such as Jarvis Analytics enabled him to see all of the provider data in one place and helped streamline their business intelligence efforts.
Efficiency and Productivity Gains
Fred Ward, CEO of Marquee Dental Partners, uses a dental dashboard to collect data from all of its partners in order to establish standards and help providers improve their production.
One provider, a dentist in Nashville, took pride in the number of fluoride treatments he believed his hygiene department was doing. However, based on data in Fred’s dental dashboard, the hygienists were applying one fluoride treatment per day compared to the Marquee’s partner average of seven per day. After Fred relayed this information to the dentist, the practice was able to take action and fluoride treatments increased dramatically.
A Driver for Practice and Clinical Excellence
Dr. Nathan Kupperman, owner, and CFO of NAK Dental Group, uses a dental analytics platform to monitor all NAK’s practices in real-time. He can log in each morning to see daily schedules and also looks to see if providers are underbooked for the month. He can then make sure they increase appointments based on the KPIs he set in his dental dashboard.
Dr. Sulman Ahmed, Founder, and CEO of DECA Dental, equips all of DECA’s providers with a dental dashboard. With a platform like Jarvis Analytics, they’re able to measure and ensure unparalleled clinical standards across all locations.
Better Decision-Making
Tom Clark, CEO of Dentive, uses a dental dashboard when he is buying a new practice. He’s able to use the platform for due diligence to see how a provider is performing based on the metrics he’s set up for his existing practices.
Other fast-growing DSOs like Marquee and MB2 Dental are also finding great success using a platform like Jarvis Analytics for due diligence when looking at new practices.
Anywhere, Anytime Accessible Analytics
Santosh Patel, President, and Co-Founder at Complete Specialty Solutions, uses a dental dashboard like Jarvis Analytics to access data from multiple clinics that operate on different practice management systems. With Jarvis, he is able to see all the data and all the KPIs in one place.
Automation and Workflows
The automation and workflows feature of advanced dental dashboards such as Jarvis Analytics enables a dental front office to assign to team members appointment confirmations, unscheduled treatment reminders, and broken appointment follow-ups. This way they can make sure nothing is left unaddressed. Practices are also able to use this feature to keep track of past due accounts and collections.
An all-in-one dental KPI dashboard for DSO, group practice, and solo private practice success
The Jarvis Analytics platform helps assure that you’re tracking the important metrics and staying on-track during your morning huddles and overall practice or DSO goals.
Jarvis…
- 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!
Or…
Contact us for more information about data tracking that leads to profitability.
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