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Key Performance Indicators: The Role of Data in Dental Practice Management
1Chief Executive Officer and Founder, Levin Group, Inc., a dental management consulting firm that has worked with more than 30,000 dental practices.
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TTo achieve and maintain excellence and be profitable, dental practices must monitor and understand their business performance data. This involves tracking key performance indicators (KPIs), which are measurements that are critical to any business. Vital to a dental practice's success, KPIs serve as clear indicators of the general health of a practice and can reveal areas where the practice performs well and where its weaknesses lie. Tracking KPIs can open up opportunities for the practice to improve and succeed. This article defines what KPIs are, presents seven of the most important ones relative to dental practice production, and describes why practices need to track them. Monitoring these KPIs is intended to benefit any dental practice that is aiming to increase production, control overhead, and boost profitability.
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