772: Tracking Success: Data Insights for Thriving Dental Practices! – Angela Heathman

If you're at the office over 200 days, that's too much time at work! You can be there less and make more money — you just need to understand your data. To offer some insight into the numbers you need to know, Kirk Behrendt brings back Angela Heathman, one of ACT’s amazing coaches, with insights into analyzing and mastering the key components of a thriving practice. To learn how to work smarter, not just harder, listen to Episode 772 of The Best Practices Show!

Learn More About Angela:

• Send Angela an email: [email protected] 
• Join Angela on Facebook: https://www.facebook.com/angeheathman
• Follow Angela on ACT’s Instagram: https://www.instagram.com/actdental
• Send Gina an email: [email protected] 

More Helpful Links for a Better Practice & a Better Life:

• Subscribe to The Best Practices Show: https://the-best-practices-show.captivate.fm/listen
• Join The Best Practices Association: https://www.actdental.com/bpa
• Join ACT’s To The Top Study Club: https://www.actdental.com/ttt
• See the ACT Dental/BPA Live Event Schedule: https://www.actdental.com/event
• Get The Best Practices Magazine for free: https://www.actdental.com/magazine
• Please leave us a review on the podcast: https://podcasts.apple.com/us/podcast/the-best-practices-show-with-kirk-behrendt/id1223838218

Episode Resources:

• Watch the video version of Episode 772: https://www.youtube.com/@actdental/videos
• Register for ACT’s Financial GAPs workshop: https://www.actdental.com/gaps
• Download ACT’s Financial GAPs at a Glance: https://23476641.fs1.hubspotusercontent-na1.net/hubfs/23476641/47%20The%20Financial%20GAPs%20at%20a%20Glance%20-%2005.pdf
• Download ACT’s PPO Roadmap: https://23476641.fs1.hubspotusercontent-na1.net/hubfs/23476641/ACT%20Dental%20PPO%20Roadmap.pdf
• Download ACT’s Roadmap to Practice Profitability: https://23476641.fs1.hubspotusercontent-na1.net/hubfs/23476641/ACT_Dental_-_Roadmap_to_Practice_Profitability.pdf

Main Takeaways:

• Don't run on emotion. Evaluate which things you're doing are actually working.
• Data will reveal where your inefficiencies are and where you can improve.
• Without understanding your data, you won't increase profitability.
• Tracking data will help you be more informed and strategic.
• Your goal is to collect 100%. 96% is not good enough!
• Selling your practice is not a retirement plan.

Snippets:

0:00 Introduction.

1:55 About ACT’s BPA, TTT, Pro Coaching, and other resources.

5:10 Objectives.

6:34 Why this is an important topic.

13:08 Production, explained.

20:13 Collections, explained.

24:59 Overhead, explained.

30:55 Profit, explained.

37:22 Q&A: What is an optimal range in overhead as a percentage of gross collections?

49:23 The sale isn't your retirement plan.

51:32 Final thoughts.

Angela Heathman, MS, RDH Bio:

Angela Heathman is a Lead Practice Coach who works with dentists and their teams to help them accomplish their goals. She believes the hard work you do on your practice is just as important as the work you do in your practice!

Angela has over 20 years of clinical dental hygiene, dental sales, and practice coaching experience. When she transitioned from her role as a clinician to her role as a sales account manager, she realized both her passion for education and practice development. Angela holds a master's degree in dental hygiene education from the University of Missouri-Kansas City.