Dental Practice Balanced

Scorecard

Report includes 9 month(s) 25 day(s) from 24.04.2013 to 16.02.2014

Document date : 16.02.2014
Created by webbsc.com at 09.02.2014
This report was generated with BSC Designer PRO
Strategy Map
 Business goals

Finance
Improve profitability of the dental practice
Analyze costs structure and introduce cost cutting measures if necessary
Profitability, %
Increase average revenue generated by patients
Perform a complex oral health exam
Perform cosmetic dentistry evaluations
Develop and share with every patient a treatment plan
Average annual production per active patient, $
Decrease Costs
Customers
Reduce the number of broken appointments
Improve payments collection ratio up to 98.5%
Inform patients before the actual treatment about the fees for the treatment
that they will have to pay
Accounts Receivable, $
Introduce a possibility to pay upfront
Improve patient's engagement
Promote any esthetic issues of whitening treatment
% of whitening procedures
Introduce to new patients the treatment plan, not just a solution of the actual
problem
 Design a "Welcome" pack that will include complex oral health exams and
development of a treatment plan
Average Production Per New Patient, $
Internal Business Processes
Do a data-driven decision when choosing marketing methods
Gather relevant information to know the cost of attracting one active patient
Amount paid per active patient per year, $
Develop a marketing system that will promote practice to new patients
Develop a marketing program
% of new patients
Improve the quality of initial treatments and marketing materials
Imrpoove the conversion rate of the qualified leads into active patients.
New patient conversion rate, %
Do quality assurance to prevent patients from being lost in the future
Introduce quality control and assurance programs
% of patients who leaves a dental practice
Control operating expenses
Develop plan to control operational expenses
Overhead (Operating expenses), %
Education
Train team to present treatment plans
Design visually appealing explicative materials
Introduce training program to your team
 Treatment acceptance rate, %
Track and improve employees efficiency
Introduce algorithms and standards to ensure higher operation
performance
Annual production per full time employee, $
Dental Practice Balanced Scorecard
This Balanced Scorecard is designed to help dental practices measure and improve their performance. Where possible
benchmarks from US dental industry were used for the target values. Learn more about how to customize it: http://goo.gl/GcJivL

Performance

Current Start End Dynamic Min Max Average

63,35 % 43,35 % 63,35 % 20,00 % 42,32 % 65,87 % 44,04 %

Progress

Current Start End Dynamic Min Max Average

66,09 % 41,54 % 66,09 % 24,55 % 40,61 % 69,22 % 42,35 %

Baseline : 8,7 % Target : 91,5 %

Dental Practice Balanced Scorecard contains
Name Type Start value End value Dynamic
Financial Perspective Category 31,2 % 81,8 % 50,6 %
Customers Category 62,8 % 45,57 % -17,23 %
Internal Business Processes Category 52,6 % 52,06 % -0,54 %
Education and Growth Category 26,8 % 73,98 % 47,18 %
Dental Practice Balanced Scorecard
Performance
 Financial Perspective
Performance

Current Start End Dynamic Min Max Average

81,80 % 31,20 % 81,80 % 50,60 % 31,20 % 81,80 % 32,65 %

Progress

Current Start End Dynamic Min Max Average

89,77 % 59,89 % 89,77 % 29,88 % 27,00 % 89,77 % 60,03 %

Baseline : 8,6 % Target : 90 %

Weight : 1 Parent : Dental Practice Balanced Scorecard

 Financial Perspective contains
Name Type Start value End value Dynamic

Profitability, % Indicator 30 % 97,3 % 67,3 %

Average annual production per
Indicator 500 $ 2316 $ 60,53 $
active patient, $
Amount paid per active patient
Indicator 120 $ 99,5 $ 4,1 $
per year, $
Financial Perspective
Performance
 Profitability, %
Measurement: (Operating expenses)/(Revenues generated)

Name : Profitability, %
Current Start End Dynamic Min Max Average
97,3 % 30 % 97,3 % 67,3 0,4 % 97,3 % 31,27 %
Performance
Current Start End Dynamic Min Max Average
97,30 % 30,00 % 97,30 % 67,30 % 0,40 % 97,30 % 31,27 %
Progress
Current Start End Dynamic Min Max Average
105,06 % 60,00 % 105,06 % 45,06 % -8,94 % 105,06 % 59,75 %
Baseline : 8 % Target : 93 %
Weight : 1 Parent : Financial Perspective
Measure : % Optimization : Maximize
Business goal : Improve profitability of the dental practice
Profitability, %
 Average annual production per active patient, $
Measurement: Measure the profit generated by one patient during a 1 year period

Name : Average annual production per active patient, $

Current Start End Dynamic Min Max Average
2316 $ 500 $ 2316 $ 1816 500 $ 2649 $ 569,3 $
Performance
Current Start End Dynamic Min Max Average
77,20 % 16,67 % 77,20 % 60,53 % 16,67 % 88,30 % 18,98 %
Progress
Current Start End Dynamic Min Max Average
86,33 % 50,00 % 86,33 % 36,33 % 9,70 % 100,38 % 50,86 %
Baseline : 270 $ Target : 2640 $
Weight : 3 Parent : Financial Perspective
Measure : $ Optimization : Maximize
Business goal : Increase average revenue generated by patients
Average annual production per active patient, $
 Amount paid per active patient per year, $
Measurement: (Total marketing budget per year) / (The number of new active patients per year)

Name : Amount paid per active patient per year, $

Current Start End Dynamic Min Max Average
99,5 $ 120 $ 99,5 $ -20,5 99,5 $ 340 $ 126,5 $
Performance
Current Start End Dynamic Min Max Average
80,10 % 76,00 % 80,10 % 4,10 % 32,00 % 80,10 % 75,03 %
Progress
Current Start End Dynamic Min Max Average
84,82 % 89,47 % 84,82 % -4,65 % 28,24 % 89,47 % 87,82 %
Baseline : 460 $ Target : 35 $
Weight : 1 Parent : Financial Perspective
Measure : $ Optimization : Minimize
Business goal : Do a data-driven decision when choosing marketing methods
Amount paid per active patient per year, $
 Customers
Performance

Current Start End Dynamic Min Max Average

45,57 % 62,80 % 45,57 % -17,23 % 40,06 % 62,80 % 62,36 %

Progress

Current Start End Dynamic Min Max Average

43,85 % 29,81 % 43,85 % 14,04 % 29,81 % 63,84 % 30,97 %

Baseline : 8,9 % Target : 93 %

Weight : 1 Parent : Dental Practice Balanced Scorecard

 Customers contains
Name Type Start value End value Dynamic
% of whitening procedures Indicator 20 % 38 % 36 %
Accounts Receivable, $ Indicator 95 % 28,9 % -66,1 %
Average Production Per New
Indicator 500 $ 1515 $ 33,83 $
Patient, $
FTAs, % Indicator 13 Score 57,4 Score -44,4 Score
Customers
Performance
 % of whitening procedures
Measurement: (The number of whitening procedures) * 100% / (Total treatments per day)

Name : % of whitening procedures

Current Start End Dynamic Min Max Average
38 % 20 % 38 % 18 5,2 % 47,75 % 20,25 %
Performance
Current Start End Dynamic Min Max Average
76,00 % 40,00 % 76,00 % 36,00 % 10,40 % 95,50 % 40,50 %
Progress
Current Start End Dynamic Min Max Average
87,65 % 50,00 % 87,65 % 37,65 % 6,67 % 111,73 % 50,25 %
Baseline : 2,5 % Target : 43 %
Weight : 1 Parent : Customers
Measure : % Optimization : Maximize
Business goal : Improve patient's engagement
% of whitening procedures
 Accounts Receivable, $
Measurement: Percentage of due payments received after 2 months of the actual treatment

Name : Accounts Receivable, $

Current Start End Dynamic Min Max Average
28,9 % 95 % 28,9 % -66,1 10,2 % 95 % 92,86 %
Performance
Current Start End Dynamic Min Max Average
28,90 % 95,00 % 28,90 % -66,10 % 10,20 % 95,00 % 92,86 %
Progress
Current Start End Dynamic Min Max Average
24,30 % 74,07 % 24,30 % -49,77 % 2,56 % 101,16 % 72,92 %
Baseline : 8 % Target : 94 %
Weight : 2 Parent : Customers
Measure : % Optimization : Maximize
Business goal : Improve payments collection ratio up to 98.5%
Accounts Receivable, $
 Average Production Per New Patient, $
Measurement: Treatment plan value, $

Name : Average Production Per New Patient, $

Current Start End Dynamic Min Max Average
1515 $ 500 $ 1515 $ 1015 144 $ 1911 $ 515,4 $
Performance
Current Start End Dynamic Min Max Average
50,50 % 16,67 % 50,50 % 33,83 % 4,80 % 63,70 % 17,18 %
Progress
Current Start End Dynamic Min Max Average
50,60 % 14,29 % 50,60 % 36,31 % -3,81 % 66,31 % 14,67 %
Baseline : 240 $ Target : 2760 $
Weight : 3 Parent : Customers
Measure : $ Optimization : Maximize
Business goal : Introduce to new patients the treatment plan, not just a solution of the actual
problem
Average Production Per New Patient, $
 FTAs, %
FTAs % = (The number of not attended appointments * 100 %) / (The total number of appointments)

Name : FTAs, %
Current Start End Dynamic Min Max Average
57,4 13 57,4 44,4 5,9 57,4 13,87
Performance
Current Start End Dynamic Min Max Average
42,60 % 87,00 % 42,60 % -44,40 % 42,60 % 94,10 % 86,46 %
Progress
Current Start End Dynamic Min Max Average
37,62 % 14,29 % 37,62 % 23,33 % 14,29 % 98,93 % 17,43 %
Baseline : 89 Score Target : 5 Score
Weight : 4 Parent : Customers
Measure : Score Optimization : Minimize
FTAs, %
 Internal Business Processes
Performance

Current Start End Dynamic Min Max Average

52,06 % 52,60 % 52,06 % -0,54 % 36,24 % 58,98 % 52,58 %

Progress

Current Start End Dynamic Min Max Average

51,70 % 36,00 % 51,70 % 15,70 % 33,14 % 60,57 % 36,75 %

Baseline : 9,7 % Target : 91,4 %

Weight : 1 Parent : Dental Practice Balanced Scorecard

 Internal Business Processes contains
Name Type Start value End value Dynamic
Overhead (Operating
Indicator 60 % 47 % 13 %
expenses), %
% of patients who leaves a
Indicator 12 % 15,6 % -3,6 %
dental practice
New patient conversion rate, % Indicator 30 % 2,2 % -27,8 %
% of new patients Indicator 4% 70,4 % 66,4 %
Internal Business Processes
Performance
 Overhead (Operating expenses), %
Measurement: (Overhead expenses * 100%) / (Collections)

Name : Overhead (Operating expenses), %

Current Start End Dynamic Min Max Average
47 % 60 % 47 % -13 27,7 % 79,5 % 59,37 %
Performance
Current Start End Dynamic Min Max Average
53,00 % 40,00 % 53,00 % 13,00 % 20,50 % 72,30 % 40,97 %
Progress
Current Start End Dynamic Min Max Average
53,57 % 50,00 % 53,57 % 3,57 % 14,88 % 76,55 % 50,52 %
Baseline : 92 % Target : 8 %
Weight : 2 Parent : Internal Business Processes
Measure : % Optimization : Minimize
Business goal : Control operating expenses
Overhead (Operating expenses), %
 % of patients who leaves a dental practice
Measurement: (The number of lost patients per year) * 100% / (The total number of patients)

Name : % of patients who leaves a dental practice

Current Start End Dynamic Min Max Average
15,6 % 12 % 15,6 % 3,6 12 % 75,1 % 13,32 %
Performance
Current Start End Dynamic Min Max Average
84,40 % 88,00 % 84,40 % -3,60 % 24,90 % 88,00 % 87,02 %
Progress
Current Start End Dynamic Min Max Average
88,43 % 30,00 % 88,43 % 58,43 % 16,75 % 92,77 % 31,92 %
Baseline : 89 % Target : 6 %
Weight : 4 Parent : Internal Business Processes
Measure : % Optimization : Minimize
Business goal : Do quality assurance to prevent patients from being lost in the future
% of patients who leaves a dental practice
 New patient conversion rate, %
Measurement: (New Active Patients) * 100% / (Qualified leads). Use this KPI to find out how efficient your marketing system is. You will
need to specify what lead is your qualified lead and then find out the conversion rate of the qualified leads into active patients.

Name : New patient conversion rate, %

Current Start End Dynamic Min Max Average
2,2 % 30 % 2,2 % -27,8 1,2 % 57,1 % 30,01 %
Performance
Current Start End Dynamic Min Max Average
2,20 % 30,00 % 2,20 % -27,80 % 1,20 % 57,10 % 30,01 %
Progress
Current Start End Dynamic Min Max Average
-7,16 % 33,33 % -7,16 % -40,49 % -8,40 % 60,62 % 33,00 %
Baseline : 8 % Target : 89 %
Weight : 3 Parent : Internal Business Processes
Measure : % Optimization : Maximize
Business goal : Improve the quality of initial treatments and marketing materials
New patient conversion rate, %
 % of new patients
Measurements: (The number of new active patients per year) * 100% / (The total number of patients)

Name : % of new patients

Current Start End Dynamic Min Max Average
70,4 % 4% 70,4 % 66,4 4% 99,8 % 5,765 %
Performance
Current Start End Dynamic Min Max Average
70,40 % 4,00 % 70,40 % 66,40 % 4,00 % 99,80 % 5,77 %
Progress
Current Start End Dynamic Min Max Average
77,57 % 40,00 % 77,57 % 37,57 % -12,16 % 117,30 % 39,71 %
Baseline : 13 % Target : 87 %
Weight : 1 Parent : Internal Business Processes
Measure : % Optimization : Maximize
Business goal : Develop a marketing system that will promote practice to new patients
% of new patients
 Education and Growth
Performance

Current Start End Dynamic Min Max Average

73,98 % 26,80 % 73,98 % 47,18 % 26,80 % 85,98 % 28,57 %

Progress

Current Start End Dynamic Min Max Average

79,02 % 40,45 % 79,02 % 38,57 % 22,86 % 93,31 % 41,64 %

Baseline : 7,6 % Target : 91,6 %

Weight : 1 Parent : Dental Practice Balanced Scorecard

 Education and Growth contains
Name Type Start value End value Dynamic

Annual production per full time

Indicator 11000 $ 40050 $ 58,1 $
employee, $

Treatment acceptance rate, % Indicator 30 % 69,9 % 39,9 %

Education and Growth
Performance
 Annual production per full time employee, $
Measurement: (The total production, $) / (Number of full time employees)

Name : Annual production per full time employee, $

Current Start End Dynamic Min Max Average
4,005E004 4,005E004 4,815E004 1,227E004
1,1E004 $ 2,905E004 1,1E004 $
$ $ $ $
Performance
Current Start End Dynamic Min Max Average
80,10 % 22,00 % 80,10 % 58,10 % 22,00 % 96,30 % 24,53 %
Progress
Current Start End Dynamic Min Max Average
87,02 % 63,64 % 87,02 % 23,38 % 17,86 % 106,31 % 64,33 %
Baseline : 3500 $ Target : 4,55E004 $
Weight : 4 Parent : Education and Growth
Measure : $ Optimization : Maximize
Business goal : Track and improve employees efficiency
Annual production per full time employee, $
 Treatment acceptance rate, %
Measurement: (The number of accepted treatments) * 100% / (The total number of recommended treatments)

Name : Treatment acceptance rate, %

Current Start End Dynamic Min Max Average
69,9 % 30 % 69,9 % 39,9 13,7 % 93,9 % 31,26 %
Performance
Current Start End Dynamic Min Max Average
69,90 % 30,00 % 69,90 % 39,90 % 13,70 % 93,90 % 31,26 %
Progress
Current Start End Dynamic Min Max Average
73,69 % 25,00 % 73,69 % 48,69 % 6,79 % 102,26 % 26,52 %
Baseline : 8 % Target : 92 %
Weight : 6 Parent : Education and Growth
Measure : % Optimization : Maximize
Business goal : Train team to present treatment plans
Treatment acceptance rate, %