Monthly KPI Dashboards: A Powerful Tool for Your Dental Practice
With patients to care for and a dental team to lead, it’s easy to overlook the financial details of your dental practice. But pausing each month to review key performance indicators, or KPIs, can empower you to make strategic decisions, both for the financial and clinical sides of your practice. A KPI dashboard gives you a way to easily incorporate this review into your monthly routine.
What is a Dental Practice KPI dashboard?
A KPI dashboard can be described as a one-to-two-page graphical summary, or chart, that gives you a high-level snapshot of your practice’s clinical and financial performance. Although its format is nothing fancy, the information it provides can be a goldmine for savvy practice leaders. Best of all, a KPI dashboard is tailored to include the data that’s most relevant to your practice’s goals and challenges.
Knowledge, as we all know, is power. With easy-to-understand, concrete data at your fingertips, you can compare your dental practice’s performance to goals and/or prior periods to see if you’re on track, or if you need to make changes. You can also compare your practice to other similar practices by making use of available market data.
Here are a few examples of the data you might want to include on your monthly dental practice financial KPI dashboard.
Put your dashboard into action.
The more you know about your dental practice’s clinical and financial performance, the better business decisions you can make. A monthly KPI dashboard, despite its simplicity, can give you comprehensive insight into your practice’s performance, as well as the ability to identify trends and make comparisons. With this knowledge, you can take steps to enhance your practice’s profitability now—instead of waiting until the end of the year to see the results of your tax return.
Get started today.
For more information on creating an effective, custom KPI dashboard for your dental practice, contact us today.