HELP! WHAT DO I NEED TO KNOW DAILY TO MANAGE MY PRACTICE?

Do you sometimes feel you are running with your hair on fire, trying mightily to control all the details of managing your practice?  If you don’t occasionally experience such frustrations, you are, indeed, the rare practitioner who is a natural at juggling all the details of business management.  However, if you are among the vast majority of your peers who experience stress as you try to weave all the threads of your practice together, let’s start by discussing what you should know on a day-to-day basis.  We’ll begin with a list of specifics you need to know each day and conclude with a Daily Activities Report which your staff can complete for you at the end of every day.  With such information, you will be able to analyze the business aspects of your practice and, if necessary, seek advice from your accountant or practice management consultant.

Daily, you must know:

            Production – total and in comparison to goal

            Collections – over-the-counter plus mail and electronic payments – total and in                           comparison to goal

            Bank deposit

            Adjustments and write-offs, including managed care, welfare, and professional                           courtesy

            Total number of patients scheduled

            Total number of patients seen

            % of patients seen = Show rate (number of patients seen ÷ number scheduled)

            Referrals made or received

            Total number of broken or cancelled appointments (BAs and CAs)

            Total number of BAs and CAs rescheduled

Daily Activities Report

Date:____________________

Restorative

# Patients scheduled                                                                                __________

# Patients seen                                                                                         __________

% Show rate, not including emergencies                                                __________

            (Divide # seen as appointed by # scheduled)  

Broken/Cancelled appointments                                                             __________

# Rescheduled appointments                                                                   __________

Hygiene

# Patients scheduled                                                                                __________

# Patients seen                                                                                         __________

% Show rate                                                                                            __________

#Broken/Cancelled appointments                                                           __________

# Rescheduled appointments                                                                  __________

Total production                                                                                   $_________ 

            (% Restorative _______     % Hygiene_______

Total Collections                                                                                   $_________

Collection % rate                                                                                    _________%

            (Goal = 97% or more; collections  production)

Over/Under Production goal                                                               $_________

Over/Under Collection goal                                                      $_________