Knowing the patient count is invaluable to the ongoing management and operation of the practice. The dollar value assigned to the active patients is called “goodwill.” Whether it is called “goodwill” or the value of the patient files, knowing the active patient count allows you to calculate this value. In comparison, equipment is the least valuable asset of the practice, since it can be acquired quickly (e.g., 60-90 days) and depreciates in value. An active patient base represents an instant and ongoing cash flow. What gives a patient base value is the “time” it takes to develop a base (7-15 years). It is the most important asset purchased. The primary reason to purchase an existing practice is to acquire the active patient base. If the practice is well managed, most of the individuals seen, including “emergencies,” will be converted to regular patients and enter the recall system, making them regular patients. This information can be used to determine, among other things, hygiene staffing needs. We prefer the 18-month time period and that the count include “any patient seen” for any reason as being included in the active count.
#DENTRIX NUMBER OF ACTIVE PATIENTS SOFTWARE#
The variation is often due to reporting limitations in the dental software or definitions used (e.g., for how long is a patient a new patient?). Not everyone uses this period of time with calculations ranging from 12 months to 24 months. So what exactly is “active patient count?” The active patient count is defined as the number of different individuals seen in the practice during a prior specified time period, typically the prior 18 months. Yet over 90% of dentists do not know with any accuracy the number of active patients in their practice! The old adage “more is better” can make all the difference in our long-term financial success. After all, in dentistry it’s the patients who provide us with the standard of living we are accustomed to. As a practicing dentist, it is your “active patient count” or the size of your “active patient base.” This critical number is the foundation of your business success. In dental school, it was the “clinical procedure unit count” you needed in order to graduate. Throughout your life, there are many “important” numbers that you will experience.
There are five key numbers to look at when you are evaluating the health of the dental practice. This Office Manager resource provides five key numbers to look at when you are evaluating the health of the dental practice. Practice Advisor – Dentrix Software Report
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