Join the Top 10% of DSO Leaders Who Monetize Their Data
Today’s dental organizations are generating more data than ever before.
Everyone knows how important data is to make insightful decisions. So data is valuable, but do you know its full value?
Are you using it to grow your business?
Gartner reports that more than 90% of business leaders view data as a strategic asset. Yet, fewer than 10% utilize its monetary value, which means 9 out of 10 of your competitors haven’t quite figured out how to use their data to support their future business plan.
Now is the time to move ahead of your competition by joining the 10% of top-performing DSO leaders and monetize your data.
A dental dashboard can help you make sense of your ocean of unorganized data, allow you to discover hidden opportunities to grow your business, increase or create new lines of revenue, create operational efficiencies and help you maintain clinical excellence.
As competition increases, growth continues to be the primary focus for dental executives. What has changed is the way leaders sustain their anticipated growth.
In most cases, technology is viewed as the sole key to achieving and sustaining business growth, and data analytics, the cloud, and business intelligence are all top technology investment priorities. Sixty-four percent of North American decision-makers view the use of data analytics in their organizations as a high priority.
So what does that mean to you as a dental leader?
It means the opportunity is ripe to forge ahead of the competition by adding business intelligence capabilities to your organization that will help you differentiate your offering, empower you to acquire more practices, and position you as a leader in the market.
If you are not rethinking your technology investment plans for this or next year, you should be. To help you think this through, we are going to walk you through some essential steps that will set you on the path to drive innovation, maximize revenue growth, and become one of the lauded 10% top-performing DSOs.
Step 1: Identify Your Data Analytics Value Proposition
Start your data project assessment by examining your practice through the lens of your team.
Start with your regional team or C-Level:
- What are their goals?
- What challenges do they face?
- What problems are they trying to solve?
- What questions do they need answers to?
Once you have these answers, ask yourself: How can your data analytics help?
This will help you define the necessary metrics and KPIs in a useful dashboard.
Don’t stop with your operational team.
Take the time to go to the front office employees and the providers and ask them the same questions.
The goal is to get a firm handle on their requirements during this process.
At the end of the assessment, you should have a blueprint for your data analytics project, which should
USEFUL: Answer critical questions for all your team members, not just C-Level
USABLE: Offer exceptional value to each and every user, and be a part of your everyday operation
DESIRABLE: Solves problems and delivers wins every single day
Step 2: Evaluate Your Data Sources
Now that you know what your team members want, it’s time to figure out how to provide them with the right tool. Take a look at your own data across your organization, within each and every practice/location, within every practice management system, and evaluate how close you can get to meet your team’s needs with what you already have at hand.
For example, Jarvis customer MB2 Dental—a leading DSO in the United States—leveraged data already residing within their practice management systems to answer questions like:
“How many patients left the practice without making a future appointment for hygiene recare?”
“How much production has been left unscheduled?”
When you map your data to discover hidden opportunities, don’t limit yourself to what you already have.
Jarvis Analytics allows you to extend your offering by integrating third-party data seamlessly with your own.
DECA Dental, one of the fastest-growing DSOs in the United States, leveraged Jarvis to combine their own marketing and advertising data via Google Adwords and other external sources to help the marketing team to match leads and prospects to actual customers and treatments. DECA Dental uses Jarvis to answer questions like
“How did my new patient learn about my practice?”
“Which marketing channel yields the most patients and production for my practice?”
“From those patients and production, which marketing channels yield the highest quality patients and who yield the highest lifetime value?”
Thinking outside the box and knowing what kind of value data can deliver to your business will help you grow faster and more consistently, deliver stronger clinical performance, and take share from your competitors.
Step 3: Think Scalability and Customization
So now you’ve considered internal data but have you thought about external data?
Jarvis lives in a secure, cloud-based environment. That means your data is safe with us.
Not only do you have the opportunity to look across all locations for critical insights that can turn into unique opportunities, but you can also use Jarvis in the diligence of target practices for acquisition.
Dentive, a Jarvis customer since 2019, uses the power data analytics platform to help their acquisition process. Jarvis Dental Dashboard helps DSO leaders truly assess a target, gain greater confidence in the transaction, and uncover potential risks that could affect the acquisition’s value.
“Jarvis is fantastic! One of the drivers of our success in 2020 has been having assessable, clean, and organized data. Jarvis helped us navigate COVID-19 shutdowns, analyze data on 9 acquisitions,” said Tom Clark, CEO of Dentive. “And improve our top and bottom line as a business.”
DECA Dental, another Jarvis customer since 2018, uses our platform to integrate data from multiple sources to create a “single source of truth,” to help their more than 100 locations get a deeper understanding of data. By correlating this to operational and clinical KPIs, DECA Dental has driven spectacular results for their organization.
Step 4: Choose the Right Data Analytics Partner
The final and perhaps most crucial element to a successful data analytics project is choosing the right company to partner with. A partner like Jarvis can deliver a seamlessly integrated data analytics platform, distributed at scale, highly customizable, with an engaging user experience that guides team members of all skill-levels to insight quickly and the expertise and organizational support you need for a successful launch. Jarvis is that partner.
The ideal dental dashboard must be able to scale with ease. It should be designed to support large-scale operations, built for multi-locations, and multi-practice management systems, usage monitoring, and unlimited users licensing capabilities. This means that no matter who your growth plans look like, you’ll have the capacity to scale, without having to invest in complex maintenance processes or keep worrying about unpredictable billing from your analytics software vendor.
BONUS STEP (a bit bias)
Bonus Step: Partner with The Best
The fastest-growing DSOs can’t be wrong – Jarvis delivers the market’s most complete multi-location, practice management agnostic dental dashboard, coupled with an intuitive user interface your team will love. Customized to meet your (and your team’s) business needs—Jarvis guides users to fast discovery and sustainable growth.
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.
- 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
LIKE WHAT YOU SEE & READ?
Join thousands of other people, subscribe to our newsletter, and get valuable business tips delivered right to your inbox.