160. Metrics that Matter Part 2

Episode 160 of the Savvy Dentist Podcast is a continuation of our discussion on metrics that matter. Pick my brain and hear my thoughts on Metrics that Matter #2 which is about looking and understanding the financial elements of your business. We discuss the 2 types of metrics –
Key Performance Indicator and Critical Driver

In this episode we discuss:  

  • 02:00: Understanding business metrics through the metaphor of flying
  • 03:09: Cash flow and how we can use it
  • 04:00: Understanding the numbers lead to better decisions and outcomes
  • 04:41: 2 Types of Metrics: Key Performance Indicator and Critical Driver
  • 05:26: Looking at and understanding the financial elements of your business
  • 05:55: Revenue divided by assets
  • 06:30: Revenue per employee
  • 07:05 Organisational structure
  • 07:32: Marketing, Sales, and Day-to-Day operations of the business
  • 10:04: Recall success rate
  • 10:57 Incomplete treatment
  • 11:19: Critical drivers for driving in new patients
  • 12:00: Net promotive score – what is this metric and is it useful
  • 12:41: Case acceptance / Sales
  • 13:15: Average new patient value
  • 12:27: What is the effective hourly rate
  • 15:17 Key metrics to look out for and utilize.

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