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A Minute (Or Two) With Colin Receveur, Episode 11
Higher – better – dental practice numbers are great, but only if you’re tracking the ones that really matter. Learn why the 5 A’s are the ones to watch… closely.
– The biggest five metrics that every practice needs to pay attention to is this; they need to pay attention to the rate at which the staff answers their phone during business hours.
– All too often the staff is overloaded, they’re checking somebody out, they’re handling multiple tasks.
– It’s why the BatLine concept that we teach is so powerful and profitable.
– Because first off, so many practices don’t even know how many calls they’re answering or not answering.
– Or they hope and think they’re answering all the calls, which in fact they are not.
– The second metric that they need to be paying attention to is the appointing rate.
– Again, so many practices think and hope because they did pass training on appointing of patients, that it’s going well.
– And in reality they’re really appointing at 30 or 40%, and they’re leaving a whole lot on the table in terms of opportunity for growth.
– The third metric that really have to hone in on is attending. I see so many Practices that have 15 or 20% cancellation, and no shows in their practice.
– It’s really, really difficult to overcome that if you’re answering and appointing, but then the attendance rate is just flopping.
– Oftentimes the attending is one of the easiest steps to fix of all the five A’s.
– The fourth is we got to look at case acceptance, and we need to further break that down into hygiene and restorative case acceptance.
– We need to look at the different sides of this to make sure that our hygiene is producing where it needs to be, as well as our restorative also producing where it needs to be.
– And then the fifth item is average. The average treatment value, the average visit value of our patients.
– This is really critical because if your average visit value takes a swing … let’s say you’re an average practice seeing 500 patient visits per month, which is around a million, or a million and a half, or a $2 million Practice, depending on what your model is.
– If you’re a volume practice or more of a higher value practice. An average Practice doing 500 visits a month, a $50 deviation in your average visit value is $20,000 a month in revenue.
– If you don’t understand average visit value and how acceptance, and attendance, and appointing, and answering plays into that, you’re going to have a roller coaster of a year. – That’s why it’s so critical to look after the five A’s; Answer, Appoint, Attend, Accept, and Average.
– And that’s why the top 1% of Practices around the country are doing just that, and that’s why they’re in the top 1%.