Analytics allows you to set a preference for the type of production you want to see by default in the portal. This article will show you how to set that preference and help define the various choices for that setting.
In Analytics, you can choose to have your production numbers presented either as Gross or Net Production. In order to adjust these settings, follow the instructions below!
How to Update your Production Settings
Step by Step Instructions:
Hover over your initials in the bottom left corner
At the top click General Settings
From here click on Production Settings
This will let you select and adjust the production settings for how production numbers are presented in Dental Intelligence for your office. You can choose either Gross or Net
If you select Net, you will be provided the option to view what data is included in the calculation. To learn more about this, read the information in the passage below
Once the production preferences are established, the modifications will be reflected in the Analytics displayed in the Provider Pulse, Performance Board, and Yesterday tab and Month-to-Date Forecast dashboards within the Morning Huddle.
What Does Gross or Net Production Mean?
In the Production Settings you will need to first select either Gross Production or Net Production.
💥 Gross Production is associated with procedures completed according to the Fee Schedules attached to the patients before any write-offs and adjustments. Gross Production will show work performed, but isn’t an actual indication of production that is available for collection.
💥 Net Production is your collectable production after write-offs and other adjustments.
If you select Net Production, then you can choose to see this by Adjustment Date, Procedure Date, or 90 Day Average.
Net Production by Adjustment Date means the adjustment will be accounted for on the day of the adjustment. This will give you a timely picture of this period’s Net Production, but if you make adjustments outside of the period the procedure was performed, then the Net Production may be under or overstated for that period.
Net Production by Procedure Date means the adjustment will be accounted for on the date of the procedure. In order for this to be accurate, each adjustment must be associated with the procedure. This setting will give you the most accurate reflection of collectable production performed in the past periods. It is important to note that accurate Net Production will not be reflected until several months have passed to give enough time to ensure that all claims are closed and adjustments have been made. These insurance claims must be processed, received and recorded. If there are any outstanding insurance claims, the Net Production will likely change when the claim is received and any final adjustments are made.
90 Day Average will show Net Production calculated by using a rolling 90 Day Average. This is calculated by taking the total adjustment over a rolling 90 days divided by the gross production over the rolling 90 days then multiplied by the current period’s gross production. This will give you the average adjustment used to reduce gross production. Then subtract this 90 day average adjustment number from the current period’s gross production to give you the current period’s average net production.
90-days Gross Production: $300,000
90-days Adjustments: $25,000
Current Period's Gross Production: $100,000
(25,000 / 300,000) x 100,000 = 8,333.33 90-Day Average Adjustment
Current Period's Average Net Production = $91,666.67 (100,000 - 8,333.33)
Net Production based on the 90 Day Average will give you a timely and consistent view of your estimated Net Production. In most cases this will be with less than a 2.5% variance from Actual Net Production without needing to ensure all adjustments are associated with the procedure, or that the adjustments are made in the same period (day, week, month, quarter or year) as the procedure. This is an estimated number and can have a variance larger than 2.5% if large adjustments are made in a period affecting the 90-Day Average.