Business Intelligence and data analytics are known to provide a boost to any business. The dental industry is no different. In an effort to become more cost-efficient, attract new patients, and identify new business opportunities, more and more dentists are implementing Business Intelligence and Data Analytics software solutions in their practices. rnrnThe Business intelligence and Data analytics solutions, which utilizes data from the PMS to provide valuable insights and advice about the practice\’s performance, encompasses tools and techniques such as business analytics, reporting, dashboards, and national benchmarking. Through active business intelligence, quickly identify areas of business opportunities within the practice using rules and KPIs. With Analytics, assess procedural profitability and adjust fees accordingly to drive profits.
Dental practices management are no exception, but the industry has been facing problems so far due to lack of standardized systems and technology that are integrated enough to capture data from every point in the operating cycle. Most legacy systems are software installations at each workstation, that work independent of each other
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We have re-imagined business over the past two decades. What used to be human-centric has now become data driven. You will notice this difference when you walk into any bank.
We can generally look at metrics in 3 key areas: Quality metrics, Operating metrics and Financial metrics. These 3 areas together cover the overall health, sustainability and potential for growth of a practice. Some modern practice management systems have built in analytics modules that consolidate all the data and present the key metrics in an easily traceable, well presented dash board. This makes the job of following key metrics extremely simple. Newer intelligent systems can even alert you when something is off, thus maintaining a constant eye on the metrics that truly affect the efficiency of your practice.
Data has a big role to play in the coming years for the success of any dental practice. Integrated analytics functionality, on your practice management system, is necessary for best management practices
CareStack offers affordable cloud based dental practice management software and dental imaging software for your best practices which is flexible, user friendly, easy to use and guarantee accuracy.
Powerful capabilities for group practices and DSO led operations to increase practice efficiency.
Single cloud-based solution for solo practices to reduce cost and increase profitability.
Add practices, providers, users and patients on the cloud and access practice data from anywhere, anytime on any device.
Manage operations with fully customizable workflows covering all your administrative, clinical and financial needs.
Ensure safety of practice data through our HIPAA compliant system and advanced application level security protocols.