Dentaltown April 2016 - (Page 32)

practice management message board What Do You Use to Calculate Office Metrics? Townies discuss different ways to crunch the numbers. Dentaltown.com > Message Boards > Practice Management > Practice Management & Administrative Forum > What Do You Use to ... mpagri Member Since: 02/22/11 Post: 1 of 51 I get jealous whenever I see a fellow DT-er post his or her overhead percentage, accurate to two decimal places. We use Open Dental and love all it can do, but we need something more to be able to keep a rolling tab on overhead and break-even point, etc. We signed up with Dental Intel after attending Breakaway, but they have been slow to respond. Regardless, these seem like calculations we should be able to perform on our own. What do you guys use to populate the numbers beyond production/collection? ■ FEB 19 2015 USA Golfer Member Since: 10/13/13 Post: 3 of 51 I do mine at the end of the month and use historical break-even points. Doing it on a realtime basis would be more involved to track. I use my past six months to get a break-even range, then double-check it every three months to get a rough hourly idea of my overhead. Not exact, but not terrible either. ■ FEB 22 2015 Sandy Pardue Member Since: 08/21/02 Post: 5 of 51 Use QuickBooks and make sure you are coding correctly. If you want overhead percentages, this is the way to go. ■ FEB 22 2015 gsjones Member Since: 07/13/02 Post: 6 of 51 Related Message Boards Metrics for a Start-Up Office? Start-Up Office Practice Metrics, What Are You Tracking? Practice Metrics I use an Excel spreadsheet that we originally got from Sandy Pardue and Classic Practices. Over the past five years, we have expanded it and modified it to meet my needs. I enter production on a daily basis (it takes about a minute) and enter expenses from QuickBooks, and certain high-production procedures at the end of each month (this takes about seven to 10 minutes). It allows me to check production versus collections, average $-per-patient for me or either hygienist, and all the good metrics such as percentage of supplies, marketing, staff salary and total overhead prevents. Over the years I've added a "constants" page to quickly change production goals for myself and each hygienist. When I get back to the office I'll see if I can link it somehow. ■ FEB 22 2015 wyn11 Member Since: 09/12/01 Post: 12 of 51 32 If you are talking all metrics that are important to be monitoring to take the business to the next level, then you need a combination of QBs, your dental-practice software, and other data (likely in an Excel spreadsheet) that you can't get automatically and need to track manually (say, certain marketing numbers). One of my awesome Team Leads can spit out an Excel sheet before I can even find the icon. We have a main page of KPI's and then I can dig deeper with any of the tabs at the bottom. When first starting out, I'd start with all the automatic stuff and get that to one place where APRIL 2016 // dentaltown.com http://www.Dentaltown.com http://www.dentaltown.com/MessageBoard/thread.aspx?a=11&s=2&f=136&t=241606&g=1 http://www.dentaltown.com/MessageBoard/thread.aspx?a=11&s=2&f=136&t=223868&g=1 http://www.dentaltown.com

Table of Contents for the Digital Edition of Dentaltown April 2016

On Dentaltown.com
HOWARD SPEAKS: Lessons from Asia
PROFESSIONAL COURTESY: Today’s Active Topics
Continuing Education Update
Industry News
Love It!
Poll
What Do You Use to Calculate Offi ce Metrics?
When’s the Last Time You Googled Your Practice?
How is My Curing Different From Pulse Curing?
OFFICE VISIT: Family Ties
Breaking the Cookie Cutter: Finding Our Way Back to Individuality with Shape, Form and Texture
Choose Your Weapon: Finding the Best Fluoride Option for Your Patient
(Your Own) Practice, Made Perfect
Braces vs. Aligners: The Science of Picking the Best Appliance
You Be the Judge: The Case of the Lazy X-Rays
Product Profile: Premier
Principles of Flap Design and Closure
Any More Tips on This Extraction?
Dentistry’s Great Marketing Untruths
Product Profile: CreoDent Prosthetics
Product Profile: Ivoclar Vivadent
You Should Know: Dental Planet
New Products
Ad Index
Bio-Minimalism: Trends and Transitions in Endodontics
Material Classifi cation and Shade Selection Protocol for All-Ceramic Restorations
Dentally Incorrect

Dentaltown April 2016