Take a Closer Look at your Dental Practice Practices

“Another last-minute cancellation… why does this keep happening?”

“I wonder how other dental practices promote preventive treatment.”

“What are the chances that patient will call back?”

A recent conversation with a Dental Office Manager revealed a few nagging complaints she regularly overhears from her staff. We were discussing common day-to-day frustrations in running a patient-reliant business, looking for ways to rise above them. I am a champion of practice management software – that’s a given – but it goes further than that. Any program can only be as effective as you make it, with trained staff who understand its potential and ensure its consistent, client-centric application.

The topic of internal processes and appointment scheduling effectiveness always brings to mind one of my father’s favourite quotes, loosely: How can you expect different – improved – outcomes if you keep doing things the same way?

Every aspect of your interactions with patients presents an opportunity to build positive perceptions. From the moment they arrive in your waiting room until the door closes behind them, each touchpoint is an opportunity to display empathy, direct communication, smooth processes, knowledgeable advice, and future focus. It is a mindset that can become intrinsic to your service.

Under the umbrella of ABELDent’s Practice Management By Objectives™ methodology, we developed a series of relevant KPIs – Key Performance Indicators – to assess your Internal Processes and optimize Appointment Scheduling protocols. You can easily extrapolate the data you will need from within your existing ABEL software database.

Here are seven quantifiable measures that will help you zero in on areas of opportunity. The formulas presented assume all parameters used are for the same time period.

Internal Processes KPI Chart

If you find your own numbers falling short of industry benchmarks, consider some of these short- and long-term initiatives:

  • Track patient appointment history and be proactive in bookings, confirmations and reminders
  • Communicate and apply cancellation policies
  • Book next appointments before the patient leaves the office
  • Emphasize the value of preventative measures with patients
  • Monitor production reports
  • Follow up regarding outstanding treatment plans and recalls
  • Establish and follow strict diagnostic protocols
  • Provide effective case presentations
  • Employ in-house specialists as much as possible
  • Provide advanced clinical training/continuing education
  • Provide and refresh staff customer service training

I hope this detailed information is helpful, or that at least it gets you thinking about your own internal processes. These KPIs are just one of the categories of the strategic practice management we champion. I invite you to continue this conversation by attending one of our webinars or by reaching out to a member of our team at any time.

Satisfied Patients Make Everybody Happy

A few common denominators propel the success of every business:

  • Developing and sticking to a meaningful Unique Value Proposition;
  • Having the right people focus on the right things at the right time;
  • Delivering a customer experience, product or service that is consistent, sustainable and of the highest possible quality.

These are just three basic principles that drive long-term viability and profitability, and they apply as much to managing a dental practice as to any other enterprise. Today’s blog is about end-user impressions – what your patients perceive, experience and remember – and the make-or-break impact they can have on your practice.

Beyond clinical excellence and value-based pricing, what is likely to influence positive patient impressions and drive repeat business? It really comes down to effective communication, smooth operations, disciplined follow up, and consistent service delivery. As part of ABELDent’s Practice Management By Objectives™ methodology, we developed a series of relevant KPIs – Key Performance Indicators – to help you assess your status and guide your progress in these areas. You can easily extrapolate the data from within your existing ABEL software database.

Here are six quantifiable measures that will help you zero in on areas of opportunity:

Patient Satisfaction KPI Chart.png

If you find your own numbers falling short of industry benchmarks, you may want to ponder a few questions:

  • What techniques has your team mastered to build patient satisfaction?
    See the section Dental Patient Retention… What’s it worth to you? in
    Through the Looking Glass: What Your Patients See
  • Is the team confident in asking for referrals? Do they look and listen for triggers?
  • Do you have defined time requirements for each procedure?
  • Are you using a patient kiosk for check in and follow-through?
  • Have you implemented doctor/chair time scheduling?
  • Are you and your team trained in dealing effectively with complaints? Who is empowered to ‘make it right’?
  • Have you established reasonable and realistic patient expectations? Do you provide a new patient welcome kit with written office policies?
  • Do you consistently source new supplies and/or treatment techniques to improve productivity and the patient experience?
  • Do you maximize available technology?

Overall patient satisfaction should be Job One on everyone’s agenda. Staff must be trained and continuously reminded to use empathy in understanding the patient experience. Engagement, loyalty and free-flowing referrals stem from positive patient perceptions.

This group of KPIs is just one of the categories of the strategic practice management we champion. I invite you to continue this conversation by attending one of our webinars or by reaching out to a member of our team at any time.

Getting Down to Business: Boost Your Dental Practice Financials

I have written in this space about the importance of managing the performance of your dental practice through analysis of cold, hard empirical data. Facts rule. Numbers don’t lie.

At the end of the day, after you have demonstrated clinical excellence, professional achievement and patient satisfaction, the success of your business comes down to financial viability. I may be preaching to the choir: Rarely if ever do I come across a Dentist or an Office Manager who is not interested in improving productivity and profitability. Yet the nagging questions persist:

What should we be measuring?
Where do we start? Where do we sit today? Why?
How do we accurately monitor results and progress?
What is the industry benchmark?
What specific steps can I take to improve and grow?

For us at ABELDent, the answers unfold within our Practice Management By Objectives™ methodology. We have developed a series of KPIs – Key Performance Indicators – to guide your progress. The foundation of the program is the fact that all the data you need to identify and monitor your vital numbers resides within your existing ABEL software database; it’s as simple as generating the relevant reports and performing some quick calculations.

Here are eight quantifiable measures that will get you well on your way to analyzing, managing and ultimately improving your financial performance.

Key Performance Indicator Chart

If you find that your own numbers are below industry benchmarks, consider some of these short- and long-term initiatives:

Improve cash flow

  • Be clear in your communication with patients regarding financial terms and guidelines. Always inform before you perform
  • For costly procedures, ask for a deposit or upfront payment
  • Offer financing plans; limit payment plans to 60 days
  • Accept credit and debit cards
  • Use electronic claim processing
  • Provide statements and/or do regular collections follow-ups
  • Run frequent, regular A/R reports
  • Track patient payment patterns and address any issues proactively

Increase revenue

  • Focus on higher end dentistry
  • Monitor and improve case acceptance
  • Pursue outstanding treatment recommendations
  • Raise fees

Decrease overhead

  • Source less costly supplies, equipment and services
  • Evaluate all purchases based on ROI
  • Increase productivity of staff through training

Build your patient base

  • Ask your patients for referrals
  • Initiate or reinforce marketing efforts
  • Track the effectiveness of each marketing activity

I hope this detailed information is helpful, or that at least it gets you thinking about delivering more focus on your bottom line. Financial KPIs are just one of the facets of the strategic practice management we champion. I invite you to continue this conversation by attending one of our upcoming webinars or by reaching out to our team at any time.

Down the final fiscal stretch

Now that summer vacations have wound down and the annual back-to-school routines have been played out, the beginning of Fall may be a good time to settle back and refocus on how your practice is performing.

Where have you excelled and where have you fallen short of expectations? How do you determine what you need to do to change course if necessary, to reach your goals and grow your business?

We have all heard the adage “If it can be measured, it can be managed.” So true.

It starts with having a routine in place to make this review as effortless as possible. You’ll need to establish the practice benchmarks to target and the appropriate measures to be put in place to track your progress. If you’re a member of the ABELDent community, you’ll know I’m referring to Key Performance Indicators – KPIs – that are the heart of our Practice Management By Objectives methodology.

Defined as “a set of quantifiable measures used to compare performance over a specific period of time”, clearly articulated KPIs allow business managers to keep their finger on the pulse of the practice.

During a seminar we recently hosted with Microsoft Canada, the discussion of KPIs was a popular topic. It resonated with the audience that strong, well-defined KPIs contribute to better decision-making, more appropriate goal-setting, resource optimization and, importantly for many, a more objective, quantifiable valuation of a practice.

We walked through a few examples of how to develop KPIs that support specific practice objectives and demonstrated how they can be produced from within ABELDent software. Our expert then showed how to develop benchmark targets based on the practice profile and goals. These benchmarks can in turn be compared to actual KPI results to determine gaps in performance and the appropriate operational adjustments necessary to improve results.

This is another example of how a project that takes a small amount of time and thought can lead to increased efficiency, tighter management and better ROI on your practice management software.

It’s the best way to accurately examine how your practice has performed in the past, understand where it is today and help predict – and control – what it could do by year end.

Zettabytes… and counting

The concept of Big Data is not big news. We’ve all by now embraced the term to describe the sheer volume of information that accumulates through electronic record-keeping. Corporate America is investing heavily in digital transformation; many organizations are already skillfully analyzing their data and applying their findings to better understand their customers, attract new ones, influence consumer behaviour, and personalize their business relationships.

There is tremendous potential in the digital records of dental practices that – to date – remains largely untapped. This fact is one of the drivers of ABELDent’s Practice Management By Objectives™: Our strategic methodology that guides dentists in turning their big data into smart data.

You may recall the invitation I extended last month in this space to attend a Digital Transformation seminar we co-hosted with Microsoft. The response was overwhelming… and so was some of the information presented.

In particular, I was very surprised to hear some of the statistics shared by Lynne Clarke-Drew, Customer Acquisition & Marketing Lead with Microsoft Canada:

  • Every 2 days, we create as much information as we did from the beginning of time until 2003
  • Over 90% of all the data in the world was created in the past 2 years
  • Every minute, we send 204 million emails, generate 1.8 million Facebook likes and send 270 thousand tweets
  • It is expected that by 2020, the amount of digital information in existence will have grown from 3.2 zettabytes today to 40 zettabytes

Jaw-dropping numbers, to be sure. (I had never even heard of zettabytes before this seminar!) Lynne went on to discuss the aspiration of the health industry to transform today’s “sick care” system by improving care outcomes, promoting population wellness and harnessing the data explosion.

I will recap additional highlights and learnings from this seminar in future posts. If in the meantime you would like to receive a recording of the full presentation, just call me at 1-800-267-ABEL (2235) Extension 350 or drop me an email at angelas@abelhealthgroup.com

A truly rewarding business trip

As a regular follower of my blog and member of the ABELSoft community, you probably know that my company has long been a Microsoft Gold Certified Partner. It is definitely an honour to be invited to their annual premier event for partners around the globe, this year newly titled Microsoft Inspire.

When I boarded the plane en route to Washington, DC with my colleagues, I had no idea that we would end up on centre stage at the main event just a few days later.

Indeed, there we were during the awards banquet standing in front of a big screen announcing our company’s award as the 2016/2017 Microsoft Dynamics ISV of the Year for Canada!

This level of recognition is momentous.

While we have always believed in the power and value of Microsoft’s products and services, we worked in extra-close collaboration with them over the past year to optimize the use of Dynamics 365 for ABELDent users.

As a result, ABELDent software is now integrated with Dynamics 365 for Financials. We’re even providing a free license to customers to underscore the value of better and faster service and richer enhancements. Today’s ABELDent users can manage their practices with real-time business information at their fingertips:

  • Advanced analytics
  • Integrated accounting, clinical and financial reporting
  • Streamlined Human Resource management
  • Patient acquisition and retention management
  • Inventory management

Partnering with Microsoft helps us maintain our pivotal role in the digital transformation of the dental practice. We’ve always known that our innovative solutions and services exceed customer expectations, help them surpass business goals  and deliver unparalleled value.

Clearly, Microsoft agrees.

Could your dental practice benefit from a digital makeover?

As Canadian pioneers of practice management software with 40+ years of experience, we are very gratified to see how technology has evolved to support every aspect of the dental practice. Today, the office that is operating without digital support is the rare exception.

On the surface, this is a great achievement. Yet when I dig deeper, as I frequently do in business development initiatives, I am surprised at how few dental teams are actually utilizing their technology investment to its full potential. Some may be limited by their choice of simple software that satisfies only basic tasks like scheduling. But many others have invested in more robust software that is just waiting to be optimized.

Wherever you sit, it’s time to seriously examine the state of your technology. Increased competition; heightened consumer expectations; the quest for planet-friendly, paperless solutions; cybercrime… these are among today’s external pressures that will continue to impact your success. For a dental practice more specifically:

  • The security and privacy of your data is more important than ever, yet has never been more at risk.
  • Cloud computing presents the opportunity for huge advances in the speed, mobility, reliability, and storage capacity of data. It can be more cost effective and quicker to deploy while improving the efficiency of backup and recovery.
  • Integrated communication portals enable amazing levels of practice/patient interactivity, heightening patient engagement and loyalty.
  • From a reporting and analytical perspective, your practice data can offer a wealth of valuable insights. Awareness and measurement of your KPIs – Key Performance Indicators – is a gateway to continuous improvement.

If you are not yet tapping into the power of your software, maybe it’s time for a digital makeover… let’s talk! ABELDent Inc. partnered with Microsoft Canada to present an evening of insight that has the potential to transform the success of your dental practice. You can easily access this material online, or call us for customized guidance and exploration.