Count what counts: A new doctor’s roadmap to KPIs

For a new doctor entering a practice, your clinical abilities are only one part of your path to success. Business skills-many of which are not taught in dental school-are just as important for being able to provide optimal care. This is where key performance indicators (KPIs) come into play.

They demonstrate how well any business is running and can assist in highlighting both the successes and possible failures in your systems. New patient numbers per month, accounts receivable, case acceptance percentages, and production numbers for each team member help to provide an overall picture of growth or stagnancy. These numbers are also essential when it comes to analyzing opportunities for expansion or identifying areas that need to be changed.

Importance of KPIs

KPIs offer a clear picture when it comes to patterns that you might otherwise miss. One data point to track is new patient flow-how many new patients is your practice seeing each month, and where are these patients coming from? In New York, for example, the average cost of a new patient in marketing dollars can be upward of $500. Identifying whether your marketing program is working is not only an essential business practice; it's also an expensive mistake to make if your plan isn't working.

Another statistic that we track is patient attrition, or where patients are going if they're leaving the practice. Are they moving away? Or are they unhappy with the services they received? Insights into patient experience can often provide clarity on where improvement is needed.

Accounts receivable is also a large piece of the KPI puzzle. If your office is in-network with insurance, making sure that there is clear oversight and follow-up in this department means that your hard-earned dollars are collectable. Case acceptance percentages should also be monitored and reviewed frequently. This can show you how effective communication cycles are in practice, and if patients are being educated about the investments they are making in their oral health properly.

Matching production goals with reality

As an associate, a KPI that you might want to track is your daily production goals versus what you are truly producing. Even in a practice that is fee-for-service, there can be write-offs in the form of third-party payment processing fees and bookkeeping discounts. If you are paid for adjusted production and especially if you are paid on collections, keeping track of this helps ensure that your paycheck matches your work. A simple way to have a daily record of this is by asking for (and knowing how to read!) your day sheet.

As owners, we value associates who take an interest in the systems of our practices. This shows a shared commitment to not just the health of the business, but also to how well we can care for our patients. If the practice where you work is one in which you can see yourself in the long term, possibly as a partner or a future owner, you should know the direction that it is taking. This creates an atmosphere of mutual trust and helps to set clear expectations for the future.

Learning how to interpret numbers today builds the foundation for making strategic decisions tomorrow. An associate who grasps these concepts early develops stronger business acumen, positioning themselves to lead a team, plan budgets, and identify opportunities for expansion when the time comes. KPIs are more than abstract figures; they are the language of practice success. Understanding them is a skill that can elevate a dentist's career, increase their value to an employer, and pave the way toward thriving in their own practice.

Editor's note: This article appeared in the October 2025 print edition of Dental Economics magazine. Dentists in North America are eligible for a complimentary print subscription. Sign up here.