These are important numbers that you should know because your hygienists are thinking that ”they are only working for your practice to provide quality care to the patients not to make the doctor money”. Or maybe their view is “I am already busy enough, I don’t have time to worry about making money” If this is their mindset, your practice is in trouble and the truth is you are the only one losing! If you want to increase the amount of money in your bank account I would implement the following immediately.
Have your hygienist complete a Daily Hygiene Monitor form. It will take about 30 seconds to make notations on a sheet.
It should include the following information:
- The date
- The names of the patients scheduled – patients that cancel get a “CA” for cancel or “NS” for no show next to their name
- Number of hours paid for the day
- Open time – time that was never booked by the scheduling coordinator.
- All procedures performed on each patient that day
- The total fee for each patient that day
- The amount you produced that day
Once they have created their log, they should check off what they did on each patient and total it for that day. To determine production per hour, add up your total production for that day and divide it by the hours the hygienist was paid, not the hours they saw patients. If they are paid for an eight hour day but only saw seven patients, take the total daily amount, let’s say it is $1000, and divide it by eight.
Therefore, your hourly production for that day is $125 an hour. The ofﬁce lost money in two ways during that open hour. First, it lost money because of open production time. Second, they continued to earn a salary during that hour.
According to the industry standard, the hygienist should produce three times her/his salary to be a full contributor to the ﬁnancial health of the practice. You may ﬁnd that your Hygienist is falling short, particularly if they make more than $42 an hour and produce less than $125 an hour.
It is important to know the numbers and how to grow them, and the Precise Advisors are here to help you do just that. Call us or email us if you have any questions.