Setting up production 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 production benchmarks

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

The Benchmarks Setup dialog box appears.

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

·        You can indicate the Active Patient Base for the following benchmark ranges:

·        Growth Range - This range is used for newer practices that have typically been in business 0 to 5 years. The range is always 1 through [the low value of the Established Range minus 1].

·        Established Range - This range is used for practices that are established and that have been in business for 5 to 25 plus years. Leave the default range, or type the lowest and highest number of active patients you expect to have as an established practice.

·        Ideal Range - This range is for high or optimal production offices that have been in business for many years. The range is always [the high value of the Established Range plus 1] and above.

The Active Patient Base is a count of the number of patients that meet the following criteria:

·        A Last Visit Date in the Family File that falls within the time frame you have defined in the Patients are counted for the Active Patient Base if their Last Visit is within the last [number of] months box of the Practice Advisor Setup dialog box.

·        A Prov1 (primary provider) in the Family File that has been selected for the report in the Practice Advisor Report dialog box (for more information, see Running the Practice Advisor report).

·        A billing type that has been selected for the report in the Practice Advisor Report dialog box (for more information, see Running the Practice Advisor report).

·        You have the following Key Performance Indicators:

·        Practice Total Production (per month)

·        Average Daily Production

·        Average Hourly Production

·        Dentist Total Production (per month)

·        Dentist Average Daily Production

·        Hygienist Total Production (per month)

·        Hygienist Average Daily Production

·        Amount of Tx Accepted (per month)

·        For each of the Key Performance Indicators, type the Growth Benchmark Range. The growth benchmark range indicates the dollar amount or percentage you expect to achieve if the number of active patients is less than the Established Range of the Active Patient Base.

·        For each of the Key Performance Indicators, type the Established Bench. Range. The established benchmark range indicates the dollar amount or percentage you expect to achieve if the number of active patients falls within the Established Range of the Active Patient Base.

·        For each of the Key Performance Indicators, type the Ideal Benchmark Range. The ideal benchmark range indicates the dollar amount or percentage you expect to achieve if the number of active patients is more than the Established Range of the Active Patient Base.

The average of the two values for the Growth Benchmark Range, Established Bench. Range, or Ideal Benchmark Range will be used on the report (the range used depends on the number of active patients) and compared to the month-to-date (MTD) amounts or percentages to determine the variance.

Note: The Growth Benchmark Range and Ideal Benchmark Range can overlap with the Established Bench. Range.

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

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.