Is your practice meeting all your needs?
Do you have enough new patients?
Is your gross production in the highest range possible?
Is your net adequate?
Do you collect properly for all of your services?
Silkin Management Group has been delivering management consulting services to the health care field for nearly 30 years. The questions noted above are very common questions that we ask our clients and areas that we focus on to help them achieve their practice goals.
As part of working with clients in these areas, and given our extensive experience in the practice management field, we are often asked what are the basic benchmarks in terms of productivity, net, and collection percentages for certain professions.
There is nothing more frustrating than working all week or all month long, only to find that your production didn’t even achieve last year’s numbers. If you have some benchmarks to compare your productivity to, you’ll at least know where you have to go, if you are below them, or how well you are doing if you are above them.
Let’s examine the national benchmarks that we tell Silkin Management Group clients they should minimally be looking at achieving. These are based upon what we are able to achieve with our clients.
In Part 1 we’ll go over Production Benchmarks for a single doctor practice. In Part 2 we’ll look at Net Benchmarks and Collection Percentage Benchmarks.
PRODUCTION BENCHMARKS:
- A single dentist should produce minimally $80,000-90,000 a month. Really good producers can produce $120,000-$150,000 a month.
- A single Veterinarian should produce bare minimum $50,000 a month, but ideally $80,000 – 120,000 a month.
- A single Optometrist should be producing at least $50,000 a month and ideally $90,000 – 120,000 a month.
Silkin Management Group is a 30 year leader in the field of practice management. We can help you achieve your practice goals. If you are not achieving the upper end of the above mentioned benchmarks, let alone the minimum number, we can help.
Part 2 of this article will be posted February 8th on our blogsite located here:practicemanagementblog.com. If you’d like to find out more about Silkin Management Group and its services, contact us at: info@silkinmanagementgroup.com or call 800-695-0257. You can also visit our website at www.silkinmanagementgroup.com.
Lyn Ribisi
Appointment Coordinator
Silkin Management Group