We covered Accounts Receivable Ratio in our last Data Snapshot, so this week we’re going to look at how long it takes for you to get the money you’re owed by breaking down your Accounts Receivable Percentage. This metric tracks how long your uncollected balances have been outstanding, and what
If you want a successful practice, you need a great collections process, and there’s a metric to help measure it — your Accounts Receivable Ratio. It measures how efficient your collection process is at turning production into collection revenue, and you can calculate it with a simple equation: divide your
No one truly plans to fail, but when you fail to plan, that’s when you start to see failures showing up. Opportunities for culture and growth slip away and fall through the cracks, and dentists are often instead left in survival mode. Instead of building a thriving, profitable, and fulfilling business, they’re on the
Your hygienists are far more than mere caregivers—they’re crucial to the success of your practice! You can supercharge your hygienists’ performance by tracking some key performance metrics, empowering them to improve patient care, increase their efficiency, and enjoy their jobs more. When you see these
Trust is the foundation of every successful dental practice. Leaders, team members, and patients all must trust one another, or else you’ll never be able to build team loyalty, great patient relationships, or sustainable growth for your practice. Trust is essential, but it’s also incredibly fragile—even the smallest of
It can be shocking when you’ve worked hard, but then take a look at what you’re collecting and see how much it differs from your net production. This is because there’s a gap between net production and collections called the Collections Gap, and it’s responsible for money leaking out of your practice.
