Managing multiple practice locations effectively

Managing multiple practice locations, whether it’s two, three or ten of them, can be easy when you create the right strategies and systems to provide you the DATA you need!

Without the black and white numbers, you may find yourself spinning trying to mitigate issues, put out fires and find success in specific practices. Watching the (right) KPI’s creates a sense of ease, reduces the urgency and allows you to effectively control the management of success. Managing numbers and results rather than people is also a huge stress reducer!

So what are the (right) KPI’s to look at to increase management effectiveness? Don’t you fret, we’ve got you covered! Some of the most simple items can become the most effective management tools, don’t overcomplicate it and stay open to adding more later. (Pro Tip: Add only the metrics you NEED—those that directly impact success. Tracking unnecessary data creates stress for your team without adding value.)

Here are a few metrics that show really great trends:

• Production in comparison to daily/ monthly/ quarterly / yearly goals
  • Watch them all! If you’re only watching one or two, you may be off track and not even realize it!
• Collections staying 98% or higher (for a PPO practice) of your production
• New Patient acquisition; we typically recommend 25-30 new patients per full time Doctor in the practice
• Hygiene production in comparison to full practice comparison
  • Knowing where hygiene is shows you how much weight they’re carrying and where they can go!
  • We typically recommend 25-30% treatment ratio (dividing your total hygiene production by your practice production will give you this percentage)
• Case Acceptance and Diagnosis amounts
  • Case Acceptance means nothing if there’s not enough treatment being diagnosed
    • We typically recommend diagnosing 2-3x the amount of your monthly production goals
      • If this is low, check your new patients, are they low too?
  • Case acceptance is best for your practice when it’s 75% or higher!
• A/r totals
  • Watching the ensure the outstanding amount of money in your practice totals less than 1 month of production is a huge space of opportunity that is often overlooked.
  • This directly impacts overhead and can be a detriment to your success!
• Overhead 50-55% monthly, before your doctor pay and any debts.

Starting with these areas will provide you with some amazing tools to see trends that lead one into the next. For example when production is low, look at the diagnosis amount… if that’s low, look at the patient base and new patients. If new patients are meeting a goal, is that goal too small or are we checking exam calibration? These trends direct you straight to systems that have broken down and need attention, also allowing you easy tools to manage expectations, results and team members! 

There are so many tools here and looking at these as a snapshot will make managing multiple practice locations easy! Simplify it and dive in! Need guidance? We want to help you! Schedule a call.

For more tips, check out our latest episode!