As a small business, setting your key performance indicators (KPIs) can be a great way to understand business strengths and weaknesses in order to help drive your practice forward. Once you have this and your data collection has begun, the next step is to analyse and understand it.

However, simply working out a set of averages and using them as a guide point is dangerous territory. Take the current concerns with regards to children’s oral health in the UK. According the long-term statistics, dental health among children has, on average, been improving over the last 30 years,[1] which is great. However, a huge 27% of five-year-olds[2] and 12% of three-year-olds[3] (that’s hundreds and thousands of children) still have tooth decay. This shows that you will only get the insights you need to make informed decisions by correctly interpreting the information you have collected.

Keep your integrity

The integrity of your data is vital. According to Experian Data Quality, 9% of revenue is wasted as a result of poor quality information.[4]’Cleaning’ your information is worthwhile in order to ensure that what you have is always the most up to date facts. When you consider that every day in the UK, 1,600 people sadly die and 18,000 move house,1 it goes to show how easily the information you have on file can quickly become out-dated.

It is also important that you ask the right questions in order to collect the relevant data. If, for example, you want to assess how well your marketing is working then you need to know exactly how that patient found you. Did a friend or family member refer them? Did they find you on the internet? If so, you need to know what they were searching for and why in order to ensure the integrity of the data you record. If they went online looking for ‘a dental practice in London’, then it was your listing in Google perhaps that brought them to your page. If however they had seen your practice advertised elsewhere, and then proceeded to search specifically for you, then it is noteworthy that your initial advertising worked.

Analyse this

Without employing the expensive services of a business data analyst it can be tricky to know where to begin. This is where having the right technology can be of huge benefit. The CS R4+ practice management software from Carestream Dental, for example, has built in features such as R4 Springboard which will not only help to gather the data you need, but also correctly analyse it in real-time for an accurate overall picture.

Having the right tools at your fingertips can make data collection and interpretation easier and less time consuming, allowing you to focus your attention on the things that matter.

For more information on from Carestream Dental,

please call 0800 169 9692 or visit www.carestreamdental.co.uk