Leveraging Data and KPIs to Drive Results in DSO Dental Practices

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By Josh Muir, Director of Strategic Partnerships, RecallMax™

What is actionable intelligence? That term gets used often in our dental industry but if you had to define it, what does it mean to your organization? In our world, simply put, it means that the data you are measuring at a corporate level should be tied to the individual actions of your dental admin and management teams. In this article, Josh Muir, Director of Strategic Partnerships at RecallMax™, discusses the potential for group practices and DSOs to capitalize on technology-driven actionable insights, resulting in an impressive 15-20% revenue upswing across the network.

Centralized View at the Corporate Level

At the corporate level, DSO dental practices require a centralized view of their operations to better understand their performance. Corporate decision-makers can identify trends, spot opportunities, and make informed strategic choices by aggregating data from individual practices. This centralized view allows for benchmarking across practices, enabling the identification of best practices and areas that need improvement. Sort ability and cross referencing is key to understanding which practices need your focus. Let’s face it, you won’t have time offer coaching and instruction to every practice in your network every month, so the goal is to lift your bottom performers while maintaining the top.

Utilizing data analytics and KPIs, DSOs can monitor critical metrics such as revenue, profitability, patient satisfaction, and treatment outcomes. This enables corporate-level executives to track overall performance, identify high-performing and underperforming practices, and allocate resources strategically. By analyzing data trends and KPIs, they can make data-driven decisions, streamline operations, and implement effective growth strategies across the organization.

What makes RecallMax™ different with our approach to enterprise data? Our centralized platform for corporate decision-makers reflects the activities of the individuals in each of your locations thereby allowing you to not only sort your practices by performance but provide strategic direction to the individuals that can improve the metrics.  This not only significantly saves time but also enables complete control into the most relevant metrics for your organization.

Analytics for Regional and Office Managers

Regional and office managers play a crucial role in the success of DSO dental practices. Equipping them with confidence to effectively manage their teams, improve operational efficiency, and enhance patient care is the goal, and confidence comes with being able to truly understand staff activity. By providing regional and office managers with access to real-time data, they can gain insights into their practice’s performance and identify the individuals that require coaching. They can effectively manage staff, drive performance, and foster a culture of accountability and excellence within their practices.

There can be challenges with improving staff performance as it is a resource strain on management. We see this being the number one issue with DSO’s of any size. They want the results, but don’t have the time to invest in concretely improving their management and admin teams. RecallMax™ places great importance on staff training, which is why we introduced the RecallMax™ Academy—an online learning platform equipped with resources to enhance the skills of dental teams in patient communications and engagement. Our micro-learning courses are designed to be easily consumed by admin teams, allowing them to complete training tasks within their regular workday. Moreover, the RecallMax Academy serves as a robust training platform for Groups and DSOs, ensuring consistently high standards across all staff members. To achieve success in training and utilizing the RecallMax software, we emphasize four essential factors that guarantee positive outcomes.

1. Missed pre-appointed: The practice of pre-appointing patients is crucial in managing schedules and ensuring their fullness. Research indicates that patients are more likely to return when they schedule their next appointment with the front desk before leaving the practice.
2. Hygiene and recall: Hygiene and recall services contribute up to 80% of practice revenues. Failure to address patients who are due or overdue for these services can result in significant financial losses for the practice.
3. Unscheduled treatment: Unscheduled restorative treatment presents a substantial revenue opportunity for your organization. Encouraging patients to return for their restorative treatment leads to high-margin and high-return procedures.
4. Short-notice cancellations: Training your staff to effectively handle short-notice cancellations is a valuable investment for your business. Did you know that approximately 15-20% of appointments end up being canceled? When multiplied across your network, these cancellations can result in significant financial losses. RecallMax™ has proven to be successful in filling 65% of same-day cancellations and rebooking 73% of canceled appointments within the first three months in one practice.

Tools that help Dental Admin teams thrive

The role of dental administrative teams in patient engagement and retention cannot be overstated. The thing is, the front desk lacks the necessary tools to get patient engagement to the level required. Most are solely relying on the functionality of their practice management (PM) systems, which is highly manual and time consuming.  This is precisely where RecallMax™, a front desk app designed to eliminate the challenges of (PM) systems, proves invaluable, as it has demonstrated a remarkable 90% increase in patient engagement and a 33% decrease in overdue and late patients. Well-designed workflows ensures that dental chairs remain occupied, workloads stay manageable, practices remain productive, and patients keep returning. It not only alleviates the stress associated with time-consuming and tedious tasks but also helps stay on top of unscheduled treatments, missed pre-appointments, cancellations, and hygiene appointments. At RecallMax, our extensive dental experience enables us to design impactful software that empowers dental admin staff to optimize their workloads. We focus on patients who are most likely to return and skillfully combine personalization and automation to achieve the best outcomes. Drawing from our years of experience, we redefine the concept of an active patient and curate lists based on their most recent visit, ensuring that dental admin teams are always engaging with the patients who are highly likely to come back.

Our front desk app can provide valuable assistance to dental admin teams in comprehending patient demographics, preferences, and needs. By analyzing patient data, teams can identify trends, personalize communications, and tailor marketing campaigns to target specific patient groups effectively. Furthermore, these tools enable tracking of patient engagement metrics such as appointment adherence, treatment follow-ups, and patient feedback. Armed with this information, dental admin teams can proactively address concerns, enhance the patient experience, and foster long-term patient loyalty.

Get a Free Enterprise Health Check

By leveraging data and KPIs, DSO dental practices can adapt to the ever-evolving dental landscape, optimize operations, enhance patient care, and ultimately achieve organic growth. Embracing a culture of data-driven decision-making will position DSOs at the forefront of the dental industry, enabling them to provide exceptional care while meeting the evolving needs of patients and remaining competitive in the market.

To learn more about RecallMax and to book your
FREE Enterprise Health Check, contact Josh
at josh.muir@recallmax.com or book a demo.

 

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