With change comes challenge. Agree or not, you would have to admit that the challenges you face in your group dental practice or DSO somewhat confirm the relevance.
However you’re experiencing the change-challenge connection, data analytics can provide empowerment and perspective.
Where (and how) your data confronts (and solves) your dental organization’s challenges
Rising cost control
You’ve noticed, haven’t you, that the costs of running a dental practice have increased? And the more practices within your dental organization, the higher the cost curve.
Some costs come without warning. Others can be forecasted.
Staying aware of cost-increase trends is key to preparing your organization to absorb them.
Data analytics can enable you to forecast cost-related challenges:
- General financial trend analysis
- Future expense monitoring
- Adjustment forecasting
- Supply chain observations
- Bulk purchasing and alternative resource acquisition
Some organizational costs are beyond your control. But data analysis can present some savings alternatives that you might otherwise miss.
Evaluating staffing and workflow efficiency
Patient feedback and workflow efficiency analysis can provide useful insight into staffing gaps. Listening to your related data creates essential awareness.
- Anticipate a staff shortage before productivity dips.
- Act on available staffing opportunities while timing is optimum.
- Acknowledge workflow gaps and assign staff resources to fill them.
Data analysis provides an intuitive solution for team resource allocation and productivity improvements.
Embracing and utilizing new technology
Consistent innovation is common across healthcare industries. Dentistry is among them.
Some technology aligns with organizational needs, while some innovations require delayed adoption.
Data analytics can help you evaluate new technology that’s relevant and useful to your dental organization:
- Technology that enhances patient engagement and care outcomes
- Technology with the potential to streamline procedural techniques and team efficiency
- Technology that has a clear and compelling ROI
Protecting your data from cybersecurity threats
Data security isn’t foolproof. But you can secure your dental organization’s sensitive information in a way that minimizes the threat capabilities:
- Monitor your network traffic.
- Flag suspicious activity.
- Establish consistent surveillance on your digital assets.
- Receive real-time alerts that help your organization avoid potential security breaches.
Analytics can be deployed as a systems “watchdog” that guards your data perimeter with advanced warning solutions.
Staying competitive
Dental industry saturation need not be an issue. Differentiating your dental organization is a worthwhile goal.
Data analysis can help you keep and maintain your industry edge by providing:
- Advanced analysis of industry trends and competitor data
- Strategic awareness of patient feedback and how to utilize it for improvements
- The ability to create and deploy fresh dental marketing initiatives that enable improved patient engagement
Centralizing internal data resources and related operational tasks
Randomness — especially relative to your organizational data — could be having a negative impact on your care standards and growth (more on that in a moment).
A unified strategy is key for group dental practices and DSOs.
Data analytics equips your organization with the ability to integrate information from a variety of sources and consolidate it for better review and application.
The outcomes:
- Unified perspective
- Unified decision-making
Scaling organizational growth
Growth and expansion is the goal. At the same time, growth can increase your organization’s complexity and related challenges.
Data analysis has the potential to reduce complexity and enable you to scale around your growth initiatives as you:
- Analyze patient demographics
- Target and embrace patient demand
- Evaluate operational capabilities and improve related workflows
Again, decision-making abilities are key here. Analysis can inform your decisions as you focus on growth opportunities and scaling them across your organization.
Staying compliant
Dental industry regulations and policy compliance are a requirement. Ongoing awareness and attention to regulatory details are essential parts of your dental organization’s reputation.
Data analytics can be used as a tool for alerting you to industry policy changes. You can further monitor how your operations are staying within the boundaries of regulatory and policy requirements.
How well you manage the gap between organizational growth and the complex challenges that come with it has much to do with data management.
Consider data analytics as a “true north compass bearing” that helps assure you’re on point and effectively dealing with the challenges.
Check out the following resources to further explore data analytics:
Gain Transparency on Your Dental Practice’s Strengths and Weaknesses
How Data-Driven Goals and Strategies Align With Dental Practice Operational Success
Navigate and override organizational challenges with a proven tool that maximizes your data
The Jarvis Analytics platform helps assure that you’re tracking the important metrics and staying on track with your goals as your group dental practice or DSO grows and expands.
Experience Jarvis in action. Request a demo today!
Or …
Contact us for more information about data tracking that leads to stand-out patient care and organizational profitability.
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