Avg Tx Presented (Provider) / Pt
Today’s Date: 2024-10-18
KPI: Average Treatment Value Per Patient Presented
This KPI measures the average monetary value of the treatments presented to patients by a dental provider. It helps gauge the potential revenue generated from treatment plans.
How to Calculate
To calculate this KPI, you need to follow these steps:
- Total Value of Treatments: Sum up the monetary value of all treatment plan items presented to patients.
- Eligible Patients: Count the number of patients who have accepted at least one treatment plan item.
- Averaging: Divide the total value of the treatments by the number of eligible patients.
KPI Formula:
Average Treatment Value Per Patient = (Total Value of All Presented Treatments) / (Total Number of Patients with Accepted Plans)
Important Considerations:
- Distinct Treatment Plans: Ensure you count all distinct treatments in all plans presented to each patient. Duplicate treatment plans should not inflate the total value.
- Provider Allocation: A treatment plan is allocated to a provider only if an exam was performed on the patient within 30 days of creating the treatment plan.
Example:
If the total value of all treatments presented by a provider to their patients is $50,000 and the number of patients who have accepted at least one treatment is 25, then the Average Treatment Value Per Patient would be calculated as:
Average Treatment Value Per Patient = $50,000 / 25 = $2,000
This means that, on average, each patient presented with a treatment plan has an associated treatment value of $2,000.
Understanding the KPI
The Average Treatment Cost Per Patient Presented is a vital KPI that helps monitor and analyze the financial health and treatment efficiency of your dental practice. It is calculated by adding the total value of all treatment plan items presented to patients and dividing by the total number of patients who have accepted at least one plan item. This calculation includes all distinct treatment items from multiple treatment plans presented to each patient, providing a comprehensive view.
- Calculation: Total value of all treatment plans items presented ÷ Total number of patients with at least one accepted plan item.
- Scope: This KPI is calculated per provider, ensuring individualized performance tracking.
- Timeframe: To allocate a treatment plan to a provider, the patient must have had an exam within 30 days of the treatment plan creation, which can be customized in your settings.
Why This KPI Is Important for Your Dental Office
Tracking and analyzing the Average Treatment Cost Per Patient Presented provides invaluable insights into your practice’s financial and operational efficiency. Here are several reasons why this KPI is crucial:
- Revenue Maximization: By understanding the average value of treatment plans presented, you can gauge the financial potential of each patient interaction. This helps in setting realistic revenue targets and identifying opportunities to maximize your earnings.
- Provider Performance: Monitoring this KPI per provider allows you to assess and compare the performance of individual dentists within your practice. Providers who consistently present higher-value treatment plans could be identified, and their best practices can be shared across the team.
- Patient Acceptance Rate: This KPI also indirectly reflects patient acceptance and trust. If the average treatment presented is high but patient acceptance is low, it may indicate a need for better communication or more patient education regarding the proposed treatments.
- Customized Treatment Planning: Detailed tracking and analysis can help in tailoring treatment plans that meet both the clinical needs and the financial considerations of the patient, thereby enhancing patient satisfaction and retention.
In summary, the Average Treatment Cost Per Patient Presented is more than just a financial metric; it’s a comprehensive indicator of your practice’s ability to present valuable and acceptable treatment options to patients. By focusing on this KPI, your dental office can enhance both its financial health and the quality of care provided.
Improving the “Average Per Patient Treatment Presented” KPI
To enhance the “Average Per Patient Treatment Presented” KPI, it is essential to focus on several strategic areas that address both patient engagement and the comprehensiveness of treatment plans prepared by the providers. Here are some actionable steps:
- Increase Case Acceptance Rates: Ensure that patients understand the value and necessity of the treatment plans presented. Utilizing patient education tools such as visual aids, models, and digital presentations can greatly assist in this.
- Comprehensive Diagnosis: A thorough initial examination will allow providers to diagnose a wide range of treatment needs. Encourage providers to conduct comprehensive evaluations to identify and present complete treatment plans that address both immediate and long-term dental care needs.
- Training for Providers: Regular training sessions for providers can help them fine-tune their diagnostic skills and improve their ability to communicate the importance of the proposed treatments effectively.
- Utilize Technology: Incorporating advanced diagnostic tools and software can help in identifying a broader spectrum of treatment needs which can be included in the treatment plans.
Improving this KPI not only boosts the office’s financial health but also ensures that patients receive comprehensive care. By focusing on thorough diagnosis, clear communication, and the use of advanced dental technology, your dental practice can significantly enhance the average value of treatments presented per patient.
KPI Statistics
For the period from 2024-01-01 to 2024-06-30, the following statistics were observed:
- 10th Percentile: $780.74
- 25th Percentile: $1117.34
- 50th Percentile (Median): $1761.08
- 75th Percentile: $2841.65
- 90th Percentile: $4748.54
Compared to the same period last year:
- 10th Percentile: $718.49
- 25th Percentile: $1056.05
- 50th Percentile (Median): $1572.44
- 75th Percentile: $2457.74
- 90th Percentile: $3768.39
More detailed and per month statistics are available to Practice by Numbers users.
How Practice by Numbers Can Help Improve These KPIs
Practice by Numbers offers powerful dental business intelligence solutions that can significantly enhance the tracking and improvement of dental KPIs, including Average Per Patient Treatment Presented. Here’s how:
- Real-Time Data: Get access to real-time data and analytics, enabling you to make informed decisions swiftly. This helps in identifying trends and addressing issues promptly.
- Customizable Reports: Generate detailed and customizable reports that cater to the specific needs of your dental practice. This allows for a more granular analysis of KPI performance.
- Automated Alerts: Receive automated alerts for KPI fluctuations, ensuring you never miss critical changes in your practice’s performance metrics.
- Training and Support: Benefit from comprehensive training and support services to maximize the utility of the software, ensuring that your team is well-equipped to use the insights effectively.
- Patient Engagement Tools: Use built-in tools to enhance patient communication and education, which can improve case acceptance rates and overall patient satisfaction.
Adopting Practice by Numbers can streamline your dental practice management and provide the actionable insights needed to drive practice growth and improve patient care.