March 1, 2017

Dental coach delivers KPIs Part II

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Dental business coach Andy McDougall from Spot On Business Planning takes a detailed look at KPIs[/caption]Dental business coach Andy McDougall from Spot On Business Planning introduced the important topic of key performance indicators in one of last month’s blogs. We hope you managed to make a start on identifying the KPIs essential to your dental business. To help build on what you’ve started here is part two.KPIs are fluid. By that we mean they are not fixed for eternity but change as the performance and needs of the dental business change. Some will be constant and some will be fluid. For instance, if cash flow were an issue, then it would be a key indicator because without monitoring it, you may run out and put your dental business at risk.However, if the cash issue is resolved over time because performance has improved, then once under control, the cash KPI can be superseded by something else that warrants focus. You may still measure cash, but in a cash-rich dental practice, it would not be a KPI. However, KPIs such as measuring financial performance against last year, last month and budget would always remain relevant because growth is a continuous pursuit of business.Andy McDougall, dental business mentor, mentioned that KPIs must come from a valid source and be consistently produced to ensure there is a sound basis for comparison. Don’t assume that standard reports from your dental practice software achieve this end.

Set up your software correctly from the outset

It is vital that your practice software is set up (structured) in the right way from the outset so that relevant KPIs can be produced and reflect our intended measure. Ask lots of questions of your software partner and most of all, make certain you speak with someone who understands the data and your requirements – not just a software programmer who has no business acumen. And be careful when it comes to terminology. Don’t assume everyone has the same meaning as you for dental industry lingo.KPI measurement facilitates improvement and drives motivation. As we mentioned in part one, what gets measured gets done! We humans, and that includes members of your dental team, like nothing more than to know what is important, to work hard to achieve a better result and to have regular feedback regarding how well we are performing and what we might do to achieve an even better result.And best of all, when the great results do start rolling in, you can’t get a bigger motivator than the well done that comes with seeing your hard work tangibly return improved results.

More KPI examples

Financial KPIs

  • Cash flow
  • Net profit by clinician
  • Net profit by clinician by hour

Non –financial KPIsNon-financial KPIs are determined according to the specific needs of your organisation. Here are some more of the KPIs that may be relevant in a typical dental practice.

  • Take up of treatments
  • FTAs and late cancellations
  • Diary utilisation by performer

‘A man without targets hits nothing.’ Old Chinese proverbMeasuring performance breeds improved performance. We challenge any dental business or dental practice owner to identify and measure six key performance criteria and NOT act when results have slipped or are under expectation.

Free consultation

Spot On Business Planning specialises in the dental sector and offers a tailored service because your dental business challenges, like your performance monitors, are unique.Finance is at the heart of what we do and we have a track record of transforming under-performing dental businesses and taking well-performing dental practices to new levels. Our analysis uncovers the challenges facing your dental business and by taking a structured approach, we plan a completely different financial performance for the future.Spot On Business Planning offers a free initial consultation whereby we will analyse your dental business accounts and highlight where opportunities and risks lie. For no more than a few hours of your time you will get a better understanding of your dental practice, its weaknesses, its strengths and the focus of your approach to achieve improved results.To arrange a free consultation with Andy McDougall call 01949 851723 or email info@spoton-businessplanning.co.uk

Our upcoming events

Nov 21, 2025

BDA Setting up a dental practice

The BDA Setting up a dental practice in-person workshop is a great opportunity for you to gain invaluable support, advice and insider information from expert speakers, including Andy McDougall and Anne-Marie Houston, on how to set out on your own for the first time.

Jul 10, 2025

Planning your successful exit

Join industry experts & learn how to plan your successful exit at this free live event!

Enjoy an opportunity to join Andy McDougall & Anne-Marie Houston in person at a free event in Surrey in July for dentists keen to maximise their exit value and gain tips for a smoother sale.

Spot On Business Planning is joining Dental Practice Sale and AMG Wealth on Thursday, July 10 for the informative live event to help dentists plan their successful exit.

The three companies will address key areas of concern to practice owners leading up to a sale, the sale process itself and post-sale aspects.

One of our strategic partners, Dental Practice Sale, is a specialist dental broker with an expansive national network of contacts and a team whose pedigree encompasses some of the UK’s most important, prestigious and noteworthy dental business transactions. Collectively the team has decades of experience in valuing, buying and selling dental practices and utilises its vast knowledge to offer the best all-round service.

AMG Wealth is a chartered financial planning practice that delivers high calibre intergenerational financial planning advice. It develops close working relationships with clients to provide investment planning based on your personal priorities, such as keeping a good standard of living in retirement or protecting wealth for future generations.

  • Learn how to maximise your exit value - what are the drivers?
  • Understand the benefits of structuring your business ready for exit
  • Determine the best point to exit
  • Hear a personal account from a DPS client & practice seller
  • Gain insights on the state of the market today
  • Consider where your practice sits with the different buyers in the market
  • Uncover the details in deal structures
  • Be informed about the valuation process & how you can influence it
  • Be aware of options pre sale such as EOT, Pre Sale Trusts, significant share holder exemption
  • Transition into the next phase of life (if retirement, what you will do, having winter hobbies etc)
  • Ensure you run out of life before running out of money (cash forecasting)
  • Protect the estate for now and future generations
  • Complimentary drinks and buffet from 6.30pm

The event at Brooklands Hotel in Weybridge starts at 6.30pm with drinks and includes a buffet.

Click here to reserve your space: https://www.dentalpracticesale.co.uk/events/evant-2?hsLang=en-gb

BDA Business Essentials Course

This two-day workshop is ideal for any dental business owner and their practice manager looking to transform poor performance, prepare for sale, or take their practice to the next level with a vision for expansion. Presented by industry experts Andy McDougall and Anne-Marie Houston, this interactive workshop will equip you with the essential tools and strategies to succeed in today’s competitive market.

Book your 121 Zoom with Andy McDougall

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