10 Numbers Every Dentist Should Know for Practice Growth
In Episode 6 of our Kleercast webinar series, Tim Kelley of TNT Dental joins us to share his ideas, tips and techniques to help you build a road map for success in 2024 and beyond.
There are two primary ways to grow your dental practice – traditional and lifestyle. Tim Kelley dives into how you can increase dental practice growth through new patient acquisition, but more importantly, how to reduce your patient attrition and increase your patient spend.
New Patient Acquisition
Let’s start with the questions: How much do you want to grow? How many patients do you need to see growth? Although it varies from practice to practice, patient acquisition is known to be the most prominent way to get more patients through the door leading to practice. Tim further explains how to calculate your practice growth by using key data such as collections, patient attrition and active patients.
Reducing Patient Attrition
Building practice loyalty is an overlooked way to increase growth at your practice. When you analyze your patient base, anyone who visits less than once a year is considered an inactive patient. So what can you do to get them back through the door and add to the growth of your practice? Tim discusses the importance of an alternative coverage option which gives your uninsured patients access to affordable care and can lead to routine visitation.
Increasing Patient Spend
Start by calculating your average patient spend:
Annual collections / total active patients = average patient spend.
From there you can determine if you need to adjust your collections or active patient number to reach the ultimate patient spend to lead to practice growth.
Top 10 Numbers Every Dentist Should Know
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Collections
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Number of Active Patients
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Attrition
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Average Patient Spend
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Average Lifetime Value
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New Patients with Sources
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% Collections From New Patients
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% New Patients with Insurance
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Unappointed Active Patients
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Inactive Patients
If you are looking for a simple solution to achieve practice growth, dental membership plans, such as Kleer, are a powerful way to increase growth by giving you coverage option that reaches new patients, improves patient loyalty and adds a recurring revenue stream.
About TNT Dental
Founded in 2000, TNT Dental became the first company to focus exclusively on websites for dentists. TNT has grown consistently into a dynamic team of over 60 incredibly-talented writers, designers, developers and communicators. Focusing on listening to their customers, building relationships and adding services to meet an ever-changing landscape.
Learn more about TNT Dental and Kleer's services to improve the growth and success of your practice
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Our experts will show you how our advanced, cloud-based membership plan platform—coupled with resources, tools and support from the experts at Kleer, can bring your practice phenomenal results.
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more visits
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more treatment accepted
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more production
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more collections