KPIs for a Dental Practice

Find below the list of the ready-to-use KPIs for a dental practice. It makes sense using these KPIs as a part of your Dental Practice Business Scorecard. Learn more about building this scorecard.

New patient conversion rate

Use this KPI to find out how efficient your marketing system is. You will need to specify what lead is your qualified lead and then find out the conversion rate of the qualified leads into active patients.

New patient conversion rate

New patient conversion rate. Click for more dental practice KPIs.

Strategy objective

  • Improve the quality of marketing materials and initial treatments

KPI category: Customers

Target: 70%

Measurement: (New Active Patients) * 100% / (Qualified leads)

Amount paid per active patient per year

When choosing a new marketing method it is important to know what your current cost is to get a new active patient.

Amount paid per active patient per year

Amount paid per active patient per year. Click for more dental practice KPIs.

Strategy objective:

  • Gather relevant information to know the cost of attracting one active patient
  • Do a data-driven decision when choosing marketing methods

KPI category: Customers

Target: $80

Measurement: (Total marketing budget per year) / (The number of new active patients per year)

Dental Practice Profitability KPI

The goal of any business is profit. Besides providing excellent dental care, you run a business. You need to know the profitability of your dental practice before the owner’s compensation. The industry average benchmark is 40%.

Dental Practice Profitability KPI

Dental Practice Profitability KPI. Click for the detailed Balanced Scorecard.

Strategic objective: improve profitability of the dental practice

KPI category: Finance

Target:  40%

Measurement: (Operating expenses)/(Revenues generated)

Initiatives:

  • Analyze costs structure and introduce cost cutting measures if necessary

Annual production per full time employee

The annual production per one employee depends on where your dental practice is located. For the US, an excellent benchmark target would be $15,000.

Annual production per full time employee

Annual production per full time employee. Click to find more dental practice KPIs.

Objective: Track and improve employees’ efficiency

KPI category: Education and Growth

Target: $15,000

Measurement: (The total production, $) / (Number of full time employees)

Initiatives:

  • Introduce algorithms and standards to ensure higher operation performance

Treatment acceptance rate

You need to know how good your team explains to a patient a treatment’s risks and opportunities. Low treatment acceptance rate (industry benchmark is 50%) means that your team needs additional training and/or explicative techniques.

Treatment acceptance rate

Treatment acceptance rate. Click for more dental practice KPIs.

Strategic objective:

  • Make sure that patients accept suggested treatment in most cases
  • Train your team to present treatment plans

KPI category: Education and growth

Target: 50% and more

Measurement: (The number of accepted treatments) * 100% / (The total number of recommended treatments)

Initiatives: 

  • Design visually appealing explicative materials
  • Introduce training program to your team

 % of patients who leaves a dental practice

Control if the patience stops using the service because of the service price or quality or because of more natural reasons (such as relocation). If you find a problem you need to initiate quality assurance procedures, e.g. prevent similar problems from occurring.

% of patients who leaves a dental practice

% of patients who leaves a dental practice. Click for more KPIs.

Strategic objective: Do quality assurance to prevent patients from being lost in the future

KPI Category: Customers

Target: 5%

Measurement: (The number of lost patients per year) * 100% / (The total number of patients)

Initiatives:

  • Introduce quality control and assurance programs

% of new patients for dental practice

Any business loses a certain percentage of patients per year. To stay in the business and grow you need to find new patients regularly.

Percentage of new patients

Percentage of new patients. Click for more dental practice KPIs.

Strategy objective: Develop a marketing system that will promote your practice to new patients

KPI category: Customers

Target: 7% new patients per year

Measurements: (The number of new active patients per year) * 100% / (The total number of patients)

Initiatives:

  • Develop a marketing program

Dental Practice Overhead (Operating expenses) KPI

To make effective management decisions you need know your total expenses. Overhead includes operating expenses, rent, equipment, and utilities. Industry benchmark for overhead is 60% or less.

Dental Practice Overhead KPI

Dental Practice Overhead KPI. Click on the screenshot for more KPIs.

Strategic objective:

  • Control operating expenses;
  • Introduce cost-cutting measures where possible;

KPI Category: Finance

Target: 60% or less

Measurement: (Overhead expenses * 100%) / (Collections)

Initiatives:

  • Track overhead expenses
  • Develop plan to control operational expenses

Average Production Per New Patient KPI

This KPI shows how good you deal with new patients. Unlike old patients, new patients’ behavior indicates how effective your team and patient engagement efforts are. The basic approach is introducing to new patients not just a solution to the problem they have, but offering them a detailed treatment or prevention plan.

Average Production Per New Patient

KPI: Average Production Per New Patient. Click for more dental practice KPIs.

Strategic objective: Introduce to new patients the treatment plan, not just a solution of the actual problem

KPI Category: Finance

Target: 800$

Measurement: Treatment plan value, $

Initiatives:

  • Design  a “Welcome” pack that will include complex oral health exams and development of a treatment plan

Average annual production per active patient, KPI

Explain to patients at your dental practice the possible treatments that they could receive. Your goal is not just to solve the problem, but to provide comprehensive dental care.

Average annual production per active patient

KPI: Average annual production per active patient. Click for more Dental Practice KPIs.

Strategic objective: Increase average revenue generated by patients

KPI Category: Finance

Current: $500

Target: $800

Measurement: Measure the profit generated by one patient during a 1 year period

Initiatives:

  • Perform a complex oral health exam
  • Perform cosmetic dentistry evaluations
  • Develop and share with every patient a treatment plan

KPI for the number of whitening procedures

Whitening procedures have been reported to have a positive effect on patients’ engagement. Make sure your dental practice provides appropriate services. There are difference industry benchmarks on this. Some suggest having at least 1 whitening per day. Others suggest having 30% of available whitening procedures.

KPI: the number of whitening procedures

KPI: % of whitening procedures. Click to find more KPIs for the dental practice.

Strategic objective: Improve patient’s engagement

Category: Customers

Target: 25% and more

Measurement: (The number of whitening procedures) * 100% / (Total treatments per day)

Initiatives:

  • Promote any esthetic issues of whitening treatment
  • Explain any health issues of whitening treatment

Accounts Receivable KPI for dental practice

Studies show that you need to collect payments in a 2 month period, or your chances for successful collection go down significantly. These KPIs are applicable in the US and are less applicable in Europe. For example, in Spain, dental practices work on an upfront payment scheme.

Accounts receivable KPI for dental practice

Accounts receivable KPI. Click to find more KPIs for the Dental Practice.

Strategic objective: Improve payments collection ratio up to 98.5%

KPI Category: Customers

Target: 98.5%

Measurement: Percentage of due payments received after 2 months of the actual treatment

Initiatives:

  • Inform patients before the actual treatment about the fees for the treatment that they will have to pay
  • Introduce a possibility to pay upfront

% of facility and equipment expenses KPI for dental practice

What do you pay for rent and equipment? Industry benchmarks tell that these should be about 10% of the revenues. If your expenses are higher, it doesn’t necessary mean that you need to change anything.

% of facility and equipment expenses KPI for Dental Practice

% of facility and equipment expenses KPI. Click to find more Dental Practice KPIs.

Strategy objective: Control facility expenses

KPI category: Finance

Target : 10%

Measurement: (Facility and equipment expenses) * 100% /  (Total revenues per month)

Initiatives: 

  • No specific action required. Use this KPI for benchmarking purposes.

% of marketing expenses – dental practice KPI

What are marketing expenses of your dental practice? The industry benchmarks tell us that the value of the KPI should be able 10% of the total practice’s revenue. If you have 15%, it doesn’t mean that you need to change something. This might be business specific for your region.

Percentage of marketing expenses

Percentage of marketing expenses. Click to learn more about the Balanced Scorecard for dental practice.

Strategy objective: control marketing expenses

KPI category: Finance

Target : 10%

Measurement: (Marketing Expenses per month) * 100% /  (Total revenues per month)

Initiatives:

  • No specific action required. Use this KPI for benchmarking purposes.
Use Dental Practice Scorecard project discussed in this article as a starting template for your own scorecard! Access this example project online or download .BSC project file for BSC Designer PRO.

View Dental Practice Scorecard online

Related Articles

Strategy and KPIs Scorecard Expert | Speaker | CEO. Aleksey Savkin (LinkedIn, @bscdesigner) is helping companies to better formulate their strategies and make the process of strategy execution more tangible with KPIs. His areas of expertise are Balanced Scorecard, Key Performance Indicators, business performance management. Aleksey is a frequent speaker at conferences; the author of a number of articles and books on Balanced Scorecard.

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