In this episode of the Dental Practice Launch Podcast, Shane discusses the four essential Key Performance Indicators (KPIs) that every dental practice owner should know. He emphasizes the importance of understanding new patient metrics, patient production, total production, and the cost of acquiring new patients. By tracking these KPIs, practice owners can make informed decisions to grow their practices and reduce stress. The episode provides valuable insights into how to effectively manage and analyze these metrics for better practice management.

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Takeaways:

• You need to know how many new patients you're getting.


• Don't be too short-sighted with your marketing.


• Everything is marketing, including patient referrals.


• Track the total production as well as new patient production.


• Your cost to acquire a new patient is crucial for growth.


• Understanding KPIs helps reduce stress in practice management.


• You should reverse engineer your future growth based on data.


• Knowing your new patients scheduled each month is essential.


• Patient production should be analyzed over a longer term.


• Effective marketing strategies can lead to increased patient retention.

Chapters:

00:00 Introduction to Key Performance Indicators (KPIs)

02:03 Understanding New Patient Metrics

05:09 Analyzing Patient Production and Revenue

07:23 Total Production Insights

08:49 Cost of Acquiring New Patients

13:04 Summary of Essential KPIs