Editor’s intro: Gaidge brings data tracking to a new level of efficiency, including nightly uploads, essential business metrics, and other benchmarking features. Read all the details here.
Why measurement matters to an orthodontic business owner
Business management icon Peter Drucker said it best: “What gets measured gets improved.” In other words, people can run on gut, hopes, and instincts, or they can run on facts and data points so that they actually know what is working well and what is not. Individuals must first understand what should be measured in their businesses, and then figure out systems to gather information (data points). From there, it is possible to begin to track and follow the trends that are impacting business performance and profitability.
Data tracking is now a must for managing business. It’s no longer “nice to have”
It’s one thing to simply rely on financials or a few sources of information such as starts and conversion rate, but thriving practices know they are at risk if they aren’t capturing the whole picture. Fortunately, recent innovations in technology services offering cloud-based analysis have changed the game for the better. This has resulted in significant cost savings for small businesses, making it attainable to gain critical business insights and weave an end-to-end picture of their practice’s health.2 You don’t need a team or a dedicated individual to manage large volumes of data; you simply need to leverage the right tools.3
Powering your practice with tools that increase business performance
Gaidge answers the complicated questions of what to measure and how to make it easy for business leaders to visualize and comprehend trends, thereby guiding them on where to focus efforts. Gaidge is a cloud-based business analytics software — custom-built for orthodontic practices. The program offers its users comprehensive analysis and seamless, automated access to their practice’s KPIs. With over 80 available metrics and 35 visual reports, Gaidge is an essential management tool that provides business intelligence dashboards, functional performance detail, benchmarking, and practice performance comparisons.
NEW! Just released — an improved platform, Gaidge 2.0
The Gaidge platform’s powerful features are automated with nightly uploads to give you unprecedented visibility into your practice’s performance, essential business metrics, and most important goals. The latest release of the software has been enhanced with a modern design, a simplified and more intuitive navigation, and several new features.
Gaidge 2.0 was designed by a team of software developers and user experience (UX) designers to provide a fresh, easy-to-navigate, easy-to-comprehend software. The new platform features greater visibility to practice goal achievement, and users will find a new color-coding system intended to reduce cognitive processing and make information easier to understand in a snapshot.
Gaidge 2.0 additional features:
- Executive dashboard
- Simplified and more intuitive top-line navigation and location/period selection
- Greater visibility to goals and goal achievement progress
- Clear interactive legends, help, and analysis explanations
- Added starts that detail and hover functionality with interactive selection on chart display
- Color-coded arrows and numbers for quick reference comparisons
- Improved practice administrator settings
Celebrate progress and success to keep driving forward
Gaidge provides significant time-savings and automation for up-to-date information about the health of your practice. Like a scoreboard, the Gaidge metrics provide owners what they need to celebrate wins and call the smart plays while also having an easier way to maintain team engagement and momentum.5 The principle behind the value of business metrics is not revolutionary, but it is proven: Keep your eye on your critical metrics, and improvement is inevitable.
With data tracking as an important tool for analyzing and promoting practice improvement, Gaidge’s article on “What it means to be a modern orthodontic practice” provides additional helpful tips. Read it here.
- Quora contributor. How Is Big Data Changing the Business Landscape? Forbes. Published March 12, 2018. https://www.forbes.com/sites/quora/2018/03/12/how-is-big-data-changing-the-business-landscape/#c9b95b63db25. Accessed September 23, 2019.
- Lippa J, Pinnock C, Aisenbrey. What Health Care Leaders Need to Do to Improve Value for Patients. Harvard Business Review. Published December 3, 2015. https://hbr.org/2015/12/what-health-care-leaders-need-to-do-to-improve-value-for-patients. Accessed September 23, 2019.
- Leong K. Your Team Doesn’t Need a Data Scientist for Simple Analytics. Harvard Business Review. Published October 30, 2015. https://hbr.org/2018/10/your-team-doesnt-need-a-data-scientist-for-simple-analytics. Accessed September 23, 2019.
- Kelleher K. What 3 Small Businesses Learned From Big Data. Inc. https://www.inc.com/magazine/201407/kevin-kelleher/how-small-businesses-can-mine-big-data.html. Accessed September 23, 2019.
- Davenport TH. How Analytics Has Changed in the Last 10 Years (and How It’s Stayed the Same). Harvard Business Review. Published June 22 , 2017. https://hbr.org/2017/06/how-analytics-has-changed-in-the-last-10-years-and-how-its-stayed-the-same. Accessed September 23, 2019.
- Key performance indicators for dental practices: Management by statistics. Dental Economics. Published March 1, 2019. https://www.dentaleconomics.com/practice/article/ 16386298/key-performance-indicators-for-dental-practices -management-by-statistics. Accessed September 23, 2019