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The value of new patients
1Levin Group Inc., Owings Mills, MD 21117, USA. rlevin@levingroup.com
Journal of the American Dental Association (1939)
|August 2, 2003
Summary
Tracking average production per new patient is crucial for dental practice financial health and long-term success. Balancing this key performance indicator with quality patient care ensures sustained practice well-being.
Area of Science:
- Dental Practice Management
- Healthcare Business Analytics
Background:
- Dental practices function as businesses requiring financial oversight.
- Key performance indicators (KPIs) are essential for understanding practice operations.
Purpose of the Study:
- To highlight the importance of tracking average production per new patient.
- To emphasize the link between this KPI and overall practice financial health.
Main Methods:
- Statistical tracking of practice financial data.
- Analysis of key performance indicators.
Main Results:
- Average production per new patient significantly drives financial performance.
- This metric impacts dentist's financial well-being and retirement planning.
Conclusions:
- Financial health in dental practices necessitates tracking KPIs like average production per new patient.
- Long-term success requires balancing financial metrics with high-quality patient care.