It’s a patient’s sign of trust and confidence in a service performed well.

It’s health, function, and aesthetics being restored. But what is it, really? Think about the fact that collection represents treatment performed. Instead, remember that each and every one of the numbers you are collecting, analyzing, and taking action on represent your patients’ lives–and yours! Here’s an example:Ĭollections. Sounds simple enough, so why is it that the mention of numbers evokes a glazed-over expression on so many faces? My opinion is that the actual “life” in those numbers is not being considered and therefore, the numbers become dull and boring. It’s a three-part process that, when tended to regularly, will firmly protect your practice from experiencing insufficient collections, delays in your ability to pay your bills, declining patient base and loss of practice value, adjustments that strangle cash flow, and other destructive practice issues. We do the same thing in business, and your practice is no exception. It’s comparing that number to another number (a goal) that starts the process of identifying what is making your child sick.

Does that number by itself identify what’s wrong with your child? No. By taking the temperature, you now have a number. Taking your child’s temperature will be one of the first steps to determine the cause of the problem. If you have a child who’s not feeling well, you probably take her to the doctor. The reliable and quantitative way to measure the health of the business is through the numbers. Updated 6/30/20Īll successful business owners, dental practice owners included, remain successful by keeping their finger on the pulse of their business. Follow these steps to identify and avoid financial issues that could harm your practice.

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