Setting up other benchmarks

You can designate the benchmarks (in whole dollar amounts or percentages) that will determine variances in report information and flag report information that needs to be addressed for increased profitability.

Notes:

·        The Practice Advisor comes installed with industry-standard benchmarks from top dental consultants. You may use these default benchmarks or change them to meet your practice goals.

·        The benchmarks are intended for a general practice with one provider (not including hygienists). The benchmarks will probably need to be modified for specialty practices or practices with more than one provider.

·        We recommend that you discuss the benchmarks with a practice management consultant or accountant to determine if you need to customize any of the values.

To set up other benchmarks

1.   From the Practice Advisor Setup dialog box, click Benchmarks Setup.

The Benchmarks Setup dialog box appears.

On the Other Benchmarks tab, you can set up the following options:

·        Type a Benchmark Range for the following COLLECTIONS Key Performance Indicators:

·        A/R to Production Ratio - The value you enter is not a dollar amount or a percentage. The average of the two numbers will be compared to the actual MTD on the report to determine the variance.

Note: We recommend that your accounts receivable be 1.5 to 2 times the monthly production.

·        A/R over 90 days -The average of the two percentages will be compared to the actual MTD on the report to determine the variance.

·        Over-the-Counter Collections - The average of the two percentages will be compared to the actual MTD on the report to determine the variance.

·        Adjusted Collections - The average of the two percentages will be compared to the actual MTD on the report to determine the variance.

Notes:

·        Adjusted Collections takes into account adjustments made to collections (for example, writing off amounts for capitation plans).

·        Many consultants suggest that you collect at least 98% of your adjusted production.

·        Type a Benchmark Range for the following CONTINUING CARE Key Performance Indicators:

·        Patients with CC Visit within last ## months - The average of the two percentages will be compared to the actual MTD on the report to determine the variance.

·        Type a Benchmark Range for the following NEW PATIENT ANALYSIS Key Performance Indicators:

·        Tx Amount Accepted, New Patients - This is the dollar amount of treatment accepted by new patients. The average of the two percentages will be compared to the actual MTD on the report to determine the variance.

·        Average Tx Amt Diagnosed, New Patients - This is the average dollar amount of treatment presented to each new patient. The average of the two amounts will be compared to the actual MTD on the report to determine the variance.

·        # of New Patients Referred BY Patient - The average of the two percentages will be compared to the actual MTD on the report to determine the variance.

·        # of New Patients Referred BY Doctor/Person - The average of the two percentages will be compared to the actual MTD on the report to determine the variance.

·        # of New Patients Referred BY Marketing - The average of the two percentages will be compared to the actual MTD on the report to determine the variance.

Note: A marketing referral source is a doctor/other referral that has been flagged as a non-person (the Non-person check box has been selected).

·        To return all benchmark ranges on both tabbed pages to the values most recently installed, click Restore Defaults.

2.   Do one of the following:

·        To save any changes, click OK.

Note: If any invalid values are detected after you click OK, a message appears stating that you must enter a valid number.

·        To exit the Benchmarks Setup dialog box without saving, click Cancel.

3.   Click OK.

You are returned to the Benchmarks Setup dialog box to make the necessary changes.