This is a list of useful consultants:
Zuelke & Associates (http://www.zuelke.com/) Accounts Receivable Control
Hollander Management Consultants (http://www.hollanderconsultants.com/) Practice Management
Cain Watter & Associates, PLLC (http://www.cainwatters.com/) Financial Management
Paragon Dental Practice Transitions (http://www.paragon.us.com/) Practice Transitions
But don't forget the "crem de la crem" Dentist CEO
This is the list of the stats that I monitored weekly, monthly and yearly besides the standard financial reports from my accountant and accounts receivable and aging reports.
Production *
Collections
Collection percentage
Office production per day
Dr. Production
Dr. production per day
Assistant production
Assistant production per day
Hygiene production
Hygiene production per day
New Patients *
Referrals
Full Months & Panos
Crown & Bridge Units
Days booked to goal
Retention (Number of new patients who come back for their 6 month recall exams) *
No Shows
*Bonus Monitors
Here is the bonus system that I used on a monthly basis. This is in addition to the yearly production bonus that was generally an office trip that served not only as a reward but an opportunity for staff bonding and education.
The Monthly Bonus Program
The monthly production goal is determined by averaging the previous three months production. If collections are at 90%, the full time staff will divide $100 for each $1000 production over the goal
The monthly new patient goal will be determined by averaging the previous three months new patients. Each full time staff member will receive $5 for each new patient exceeding the goal.
The monthly retention goal is determined by comparing the number of new patients who return six months later for their recall appointment. An average is determined for the previous three months of the percentage of the new patients who returned. Each full time staff member will receive a $5 bonus for each percentage point above the goal.
The monthly new patient goal will be determined by averaging the previous three months new patients. Each full time staff member will receive $5 for each new patient exceeding the goal.
The monthly retention goal is determined by comparing the number of new patients who return six months later for their recall appointment. An average is determined for the previous three months of the percentage of the new patients who returned. Each full time staff member will receive a $5 bonus for each percentage point above the goal.
