The Best Way to Measure Your Practice's Progress Is… (Drumroll, Please)

Key Performance Indicators (or KPIs)! By establishing KPIs in your practice, you find ways to remove the emotion that doesn't need to be there. Tiff and Kristy explain how KPIs drive a practice — and how to implement them if you haven't started yet. Episode resources: Subscribe to The Dental A-Team podcast Schedule a Practice Assessment Leave us a review Transcript: The Dental A Team (00:00) Hello, Dental A Team listeners. We are back again today and I say we again because I've got Miss Kristy here with me. You guys know how much I love her and podcasting with her is just, I told her today, like I just, you bring a sense of calm and it's great and letting it be on a, like Thursday afternoon, this is kind of cool for me ⁓ and ending my week. I've got, you know, we've got things to do tomorrow, ending calls with this is really, really cool. So Kristy, thank you so much for being here today. How are you? The Dental A Team (00:29) Good and you? The Dental A Team (00:31) I'm good, thank you. ⁓ I'm... I was gonna say that, like what the heck? I'm so glad you're here though because, you know, this time last year you were here in snow and ice and I'm so glad you're here but it is cold and I heard you guys, record these, this is January right now, it'll be released in February but it's like so cold. It's like 43 degrees in the morning here and us Arizona women are just not used to that so. The Dental A Team (00:34) It's cold for Arizona. The Dental A Team (01:01) I agree and there's supposed to be ice and snow coming, not for us, we get rain, thank goodness, but I'm like, that's why we live here, so we don't have to deal with ice and snow. yeah, puts a little damper on travel, so we'll see. We'll see how that goes, but I am glad that you're here. This is the time of year that everybody comes and visits. February is a massive, massive time to be in Arizona. In March, we've got spring training games going, we've got... Waste Management Open, we've got, oh my gosh, every weekend there's a taco festival or something going on. So this is the prime time to be in Arizona. If you wanna come visit, tell us that you're coming and we'll be happy to give you some suggestions. Kristy, we talk about these a lot and I'm excited because I know you actually thrive in this world a ton. You make decisions based on these. are phenomenal at projections. four practices and the world of KPIs, which you guys, for those of you who don't know, key performance indicators, those are the indicators within your practice that tell you how you're performing. I had years and years and years ago now, like way too long to even count, I had a manager one time and she said, Tiff, I want you to start joining the KPI meetings on Thursdays with the CPA doc and I. And I said, okay. And then I ran over to my computer and I was like, Google, what is KPI? What does KPI mean? I was like, I'll be there. That sounds great. This is like growth for me. You're putting me in. I was like, yep, I'll be there. And then I was like, what does this mean? So if you don't know what it means, you're not using them, you are not alone. I had to Google that once upon a time. And that was before Chat GPT. I feel like I would have been so much better off if I had that to break it down for me. But alas, here we are. And Kristy, I love KPIs. I love black and white decision making. I love any opportunity we have that we can remove some emotion. from a decision, especially in the dental industry. We have a lot of emotions in the dental industry and being able to remove those and say that yes or no something is or isn't working. And my favorite piece of that is when we do that, Kristy, I think it gives us the opportunity to tackle the system and not make it personal about the person. Like it might not be that you suck. it's that the system's not working or we're not using it correctly. And if that's the case, I'm fine. We start using it correctly or we alter it. But I think, Kristy, it makes me feel a lot better about accountability and about KPIs and just about leading teams when it's less about a feeling and a person and more about the system. So I'm excited. Kristy, tell me, why do you love KPIs? The Dental A Team (03:41) Yeah, for the same reason, Tip, because so many times we see people focused on the wrong thing. And when you really dial into the metrics, they start to tell a story, right? And sometimes even metrics can look a little bit deceiving, but that's why I like to say the numbers start to tell a story. And then we get to dig into it and figure out the story. So, you know, just in saying that, I think if I wasn't doing what I was doing, I would be some kind of detective. And I mean, The Dental A Team (04:09) I think you would too. The Dental A Team (04:10) Maybe that's why it's so exciting for me, but like, and it's truth, right? The numbers don't lie. And so a lot of times we have misperceptions on things and ...