{"id":1752,"date":"2021-02-10T20:48:16","date_gmt":"2021-02-10T20:48:16","guid":{"rendered":"https:\/\/www.tntdental.com\/blog\/?p=1752"},"modified":"2021-03-08T22:52:31","modified_gmt":"2021-03-08T22:52:31","slug":"8-measurements-for-dental-practice-growth","status":"publish","type":"post","link":"https:\/\/www.tntdental.com\/blog\/8-measurements-for-dental-practice-growth\/","title":{"rendered":"Crunching the Numbers:<br> Eight Things to Measure to Grow Your Dental Practice"},"content":{"rendered":"<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-1834 size-full\" src=\"https:\/\/www.tntdental.com\/blog\/wp-content\/uploads\/2021\/02\/8-things.jpg\" alt=\"8 things to measure to grow your dental practice marketing\" width=\"300\" height=\"200\" \/>The foundation to growing your practice is a solid growth plan, but what is the backbone of the growth plan? There\u2019s a lot more to it than just chance. If you\u2019re ready to start looking at what makes a successful growth plan, then grab your calculator, because it\u2019s time to start crunching the numbers.<\/p>\n<p><!--more--><\/p>\n<div class=\"clearfix\">\n<p>What would you consider to be the most important part of your practice growth plan? You might think it\u2019s direct advertising or great offers to draw in new patients, but before you can even start thinking in that direction, you\u2019ve got to go back to the basics. If you take a look at these eight items to measure, you\u2019re off to a good start. But, first things first\u2026you need to understand what you\u2019re measuring.<\/p>\n<\/div>\n<div class=\"clearfix\">\n<h2>The First Step: Establish Your Measurement System<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-1762\" src=\"https:\/\/www.tntdental.com\/blog\/wp-content\/uploads\/2021\/02\/8-things-dental-marketing-2.png\" alt=\"Measuring dental practice patient metrics\" width=\"300\" height=\"200\" \/>You track all sorts of numbers \u2013 new patients, number of total patients, etc., but if you\u2019re not making those numbers work for you, then you\u2019re missing a critical part of your growth plan. Before you can even start building your plan, you have to get your measurement system in place.<\/p>\n<p>Just think, less than one-third of the practices out there accurately track their source of new patients, and even less than that track the marketing costs tied to getting those new patients! If you don\u2019t know where your new patients are coming from or how much it\u2019s costing you to get those new patients, then why bother tracking at all?<\/p>\n<p>Bottom line: <strong> if you\u2019re not measuring these metrics, then don\u2019t invest in more marketing, because you don\u2019t know what\u2019s working or not<\/strong>. Think of it as throwing spaghetti at the wall \u2013 if you\u2019re tossing everything at your marketing plan but not looking to see what\u2019s working, just think of how much money you\u2019re throwing down the drain each year.<\/p>\n<\/div>\n<hr \/>\n<div class=\"clearfix\">\n<h2 style=\"text-align: center;\">The Five Things to Measure<\/h2>\n<p style=\"text-align: center;\">There may be <strong>eight metrics that lay the foundation for successful practice growth<\/strong>, but we can break it down into <strong>five items to measure<\/strong> and <strong>three things to calculate<\/strong>. Let\u2019s look at what you need to start measuring, so you can make the most of your marketing budget:<\/p>\n<\/div>\n<hr \/>\n<div class=\"clearfix\">\n<h3><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-1763\" src=\"https:\/\/www.tntdental.com\/blog\/wp-content\/uploads\/2021\/02\/new-patients-dental-marketing.png\" alt=\"New dental patients best dental marketing\" width=\"114\" height=\"101\" \/>New Patients<\/h3>\n<p>Measuring this one is easy \u2014 simply count the number of new patients input into your practice management system.<\/p>\n<\/div>\n<hr \/>\n<div class=\"clearfix\">\n<h3><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-1764\" src=\"https:\/\/www.tntdental.com\/blog\/wp-content\/uploads\/2021\/02\/where-to-get-new-dental-patients.png\" alt=\"Where to get new dental patients\" width=\"114\" height=\"101\" \/>Sources of New Patients<\/h3>\n<p>If you remember from our \u201c<a href=\"https:\/\/www.tntdental.com\/blog\/how-to-get-more-new-dental-patients\/\">How to Generate More New Patients for Your Dental Practice<\/a>\u201d blog post a couple of years ago, we broke down all the ways you can get new patients:<\/p>\n<ol style=\"margin-left: 15%;\">\n<li><a href=\"https:\/\/www.tntdental.com\/blog\/custom-dental-website\/\">A Custom Dental Website<\/a><\/li>\n<li><a href=\"https:\/\/www.tntdental.com\/blog\/dental-patient-referrals\/\">Patient Referrals<\/a><\/li>\n<li><a href=\"https:\/\/www.tntdental.com\/blog\/seo-for-dentists\/\">Internet Search<\/a><\/li>\n<li><a href=\"https:\/\/www.tntdental.com\/blog\/leveraging-dental-insurance-to-get-more-patients\/\">Dental Insurance<\/a><\/li>\n<li><a href=\"https:\/\/www.tntdental.com\/blog\/dental-patients-paid-marketing\/\">Paid Marketing<\/a><\/li>\n<li><a href=\"https:\/\/www.tntdental.com\/blog\/community-outreach\/\">Community Outreach<\/a><\/li>\n<\/ol>\n<p>You can track these numbers daily. It\u2019s time to think about ways you can find out this information, as this will be a piece of how you invest your money into your practice going forward. This will require a little work on your end, but it\u2019ll be worth it.<\/p>\n<\/div>\n<hr \/>\n<div class=\"clearfix\">\n<h3>Marketing Expenses<\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-1765\" src=\"https:\/\/www.tntdental.com\/blog\/wp-content\/uploads\/2021\/02\/best-dental-patient-marketing.png\" alt=\"Best dental patient marketing\" width=\"114\" height=\"101\" \/>Take your marketing expenses and start lumping them into these same categories of new patient sources \u2013 then, you\u2019ve got an easy way to determine the cost and new patient number for each category by month!<\/p>\n<\/div>\n<hr \/>\n<div class=\"clearfix\">\n<h3>Total Patients<\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-1766\" src=\"https:\/\/www.tntdental.com\/blog\/wp-content\/uploads\/2021\/02\/total-new-dental-patients.png\" alt=\"Adding up your total new dental patients\" width=\"114\" height=\"101\" \/>This is an easy one! You have the numbers of how many patients came into your practice throughout the month.<\/p>\n<\/div>\n<hr \/>\n<div class=\"clearfix\">\n<h3>Production<\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-1767\" src=\"https:\/\/www.tntdental.com\/blog\/wp-content\/uploads\/2021\/02\/increasing-dental-patient-production.png\" alt=\"How to increase dental patient production\" width=\"114\" height=\"101\" \/>This is another figure you should easily have at your disposal \u2013 this is your total practice revenue.<\/p>\n<\/div>\n<hr \/>\n<div class=\"clearfix\">\n<p>Of the five items mentioned, you already have three of these (<em>New Patients, Total Patients, and Production)<\/em>, so all you have to do is roll up your sleeves and work on the other two: <em>Sources of New Patients<\/em> and <em>Marketing Expenses<\/em>.<\/p>\n<p>Don\u2019t have those figures? Don\u2019t worry \u2013 you\u2019re not alone. Three out of 10 dentists don\u2019t have those numbers on hand, but you have an opportunity to break that cycle.<\/p>\n<\/div>\n<hr \/>\n<div class=\"clearfix\">\n<h2 style=\"text-align: center;\">The Three Items to Calculate<\/h2>\n<p style=\"text-align: center;\">Next, take those five items you measured and actually do something with that information.<\/p>\n<p style=\"text-align: center;\">Grab your calculators, because now it\u2019s time to look at the three things to calculate. Do this and you can create a growth plan that works for your practice!<\/p>\n<\/div>\n<hr \/>\n<div class=\"clearfix\">\n<h3>Production Per Patient<\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-1768\" src=\"https:\/\/www.tntdental.com\/blog\/wp-content\/uploads\/2021\/02\/measuring-production-per-dental-patient.png\" alt=\"How to measure production per dental patient\" width=\"114\" height=\"101\" \/>Take your production number and divide it by the number of patients seen to get your production per patient. Just remember \u2013 this is your <strong><em>baseline<\/em><\/strong>.<\/p>\n<\/div>\n<hr \/>\n<div class=\"clearfix\">\n<h3>Production Per New Patient<\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-1769\" src=\"https:\/\/www.tntdental.com\/blog\/wp-content\/uploads\/2021\/02\/production-per-new-dental-patient.png\" alt=\"Production per new dental patient\" width=\"114\" height=\"101\" \/>Now, wash, rinse, and almost repeat what you did in the first item \u2013 this time, divide your production number for new patient services by the number of your new patients seen. This tells you how much revenue you\u2019re generating from new patients.<\/p>\n<\/div>\n<hr \/>\n<div class=\"clearfix\">\n<h3>Cost Per New Patient<\/h3>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignleft size-full wp-image-1770\" src=\"https:\/\/www.tntdental.com\/blog\/wp-content\/uploads\/2021\/02\/cost-per-new-dental-patient.png\" alt=\"Cost per new dental patient\" width=\"114\" height=\"101\" \/>When you look at your sources of new patients and the marketing expenses to get those new patients, you can start calculating how much you\u2019re spending to get those new patients in the door. Once you have your numbers, this allows you to consider spending your money in one area over another because you get a better value that way.<\/p>\n<\/div>\n<hr \/>\n<p><!--\n\n\n<div class=\"clearfix\">\n\n\n<h3>Net New Patients\u2122<\/h3>\n\n\n<img loading=\"lazy\" decoding=\"async\" class=\"alignleft wp-image-1785 size-full\" src=\"https:\/\/www.tntdental.com\/blog\/wp-content\/uploads\/2021\/02\/net-new-dental-patients.png\" alt=\"Net new dental patients marketing\" width=\"114\" height=\"101\" \/>That's right \u2014 we trademarked it (not really, but we're thinking about it). Net New Patients is a bit more difficult to deduce \u2013 and typically, advanced patient tracking software is needed, such as Dental Intel. But trust us \u2013 the payoff is worth it. Simply take the number of new patients last year, compared to the total number of active patients within the previous 18 months. Are you up, or down? If your marketing is working, Net New Patients should be up. If the number is down \u2014 it's time to figure out why the backdoor is open... and close it... quick!\n\n<\/div>\n\n\n\n\n\n<hr \/>\n\n\n\n--><\/p>\n<div class=\"clearfix\">\n<h2>How Do You Get This Information?<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-1771\" src=\"https:\/\/www.tntdental.com\/blog\/wp-content\/uploads\/2021\/02\/new-dental-patient-champion.png\" alt=\"New dental patient champion - marketing\" width=\"300\" height=\"200\" \/>This is an easy fix. Designate a <strong>New Patient Champion<\/strong> in your practice; they\u2019ll present new patients in your morning huddle, so everyone knows who\u2019s new on the scene. Then, as you engage with these patients, ask questions about how they heard of the practice. Report your findings to your New Patient Champion so they can track it in the system, and you\u2019re well on your way to building your metrics!<\/p>\n<p>Once you start going through these metrics and determining where your money\u2019s going, now you can start building your marketing plan! But, if you\u2019re not sure where to begin or need help with calculating your figures, give the team at TNT Dental a call today, and we\u2019ll help you create the growth plan you <strong>need<\/strong> to take it to the next level.<\/p>\n<\/div>\n<hr \/>\n<div class=\"clearfix\">\n<h2>About The Author<\/h2>\n<p data-ctm-watch-id=\"7\" data-ctm-tracked=\"1\">Tim Healy is one of the founders of TNT Dental, the #1 creator of custom websites and marketing strategies for dentists. Recognized as a leading expert in helping dental practices attract new patients, Tim has a true passion for teaching dentists the important \u201cbusiness stuff\u201d they do not teach you in dental school. If there is anything Tim can do to help you, please do not hesitate to contact him directly at the office, (877) 868-4932, on his cell, (214) 680-1270, or via email at <a href=\"mailto:tim@tntdental.com\">tim@tntdental.com<\/a>. Of course, you can always visit <a href=\"https:\/\/www.TNTDental.com?utm_source=8thingstomeasureblog\">www.TNTDental.com<\/a> to learn more.<\/p>\n<p style=\"text-align: center;\" data-ctm-watch-id=\"7\" data-ctm-tracked=\"1\"><a class=\"btn\" href=\"https:\/\/www.tntdental.com\/contact-a-tim.html?utm_source=8thingstomeasureblog\">Need Help Growing Your Practice in 2021?<br \/>\n<span style=\"font-size: x-large;\">Reach Out to Tim<\/span><\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The foundation to growing your practice is a solid growth plan, but what is the backbone of the growth plan? There\u2019s a lot more to it than just chance. If you\u2019re ready to start looking at what makes a successful growth plan, then grab your calculator, because it\u2019s time to start crunching the numbers.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[190],"tags":[75,146,143,111,113,9,161,7],"class_list":["post-1752","post","type-post","status-publish","format-standard","hentry","category-marketing-dental-practices","tag-best-custom-dental-websites","tag-best-dental-marketing","tag-best-dental-marketing-companies","tag-dental-marketing-companies","tag-dental-practice-growth-tips","tag-dental-seo","tag-how-to-grow-dental-practice","tag-tnt-dental"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Crunching the Numbers: Eight Things to Measure to Grow Your Dental Practice | Blog | Best Online Marketing Companies for Dentists | Custom Dental Websites | (877) 868-4932<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.tntdental.com\/blog\/8-measurements-for-dental-practice-growth\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Crunching the Numbers: Eight Things to Measure to Grow Your Dental Practice | Blog | Best Online Marketing Companies for Dentists | Custom Dental Websites | (877) 868-4932\" \/>\n<meta property=\"og:description\" content=\"The foundation to growing your practice is a solid growth plan, but what is the backbone of the growth plan? 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