In this episode of the Dental Practice Launch Podcast, Shane Simmons discusses the three key performance indicators (KPIs) essential for growing a dental practice predictably. He emphasizes the importance of understanding annual patient value, the cost of acquiring new patients, and the average booking time for new patients. By focusing on these metrics, dental practice owners can make informed decisions that lead to sustainable growth and profitability.
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Takeaways:
- Understanding KPIs is crucial for dental practice growth.
- Annual patient value indicates how much each patient contributes.
- Cost of acquiring new patients affects marketing strategies.
- Booking time for new patients impacts conversion rates.
- Tracking these metrics leads to informed decision-making.
- Growth should be prioritized over cutting costs.
- Data-driven insights can predict practice performance.
- Marketing investments should yield a good return.
- Practices need to be proactive in scheduling new patients.
- Effective tracking systems can enhance practice management.
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