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Retention and the new patient myth
Journal of the American Dental Association (1939)
|September 1, 1993
Summary
Dental practice success requires more than just new patients. Measuring overhead, income, and patient retention alongside new patient numbers is key to understanding overall practice profitability.
Area of Science:
- Dental Practice Management
- Healthcare Business Analytics
Background:
- The financial health of dental practices is often narrowly assessed.
- Reliance solely on new patient acquisition overlooks critical performance indicators.
Purpose of the Study:
- To emphasize the necessity of a comprehensive approach to evaluating dental practice health.
- To identify key financial and operational metrics beyond new patient numbers.
Main Methods:
- Analysis of practice financial data.
- Review of key performance indicators (KPIs) in dental settings.
Main Results:
- New patient numbers alone are insufficient indicators of practice health.
- Overhead, gross income, and patient retention significantly impact profitability.
Conclusions:
- A holistic assessment incorporating multiple financial and retention metrics is essential.
- Comprehensive analysis is crucial for accurately gauging dental practice profitability.