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What is the Collections metric?
Collections are the amounts of money that a dental practice actually receives from its services, distinct from Gross Production (total amounts charged) and Net Production (total amounts agreed upon).
Click on the trends icon to view year over year and 90 day trends for your practice
Click on the magnifying glass icon to view the details of the source data that included in that metric
The information icon will give you additional information about this metric
Categories of Collections
Collections: Money recorded in the patient’s ledger.
Collections Insurance: Total of insurance payments received.
Collection Patient: Total of patient payments recorded on the ledger.
Why is the Collections metric important?
Cash Flow Management: Collections are like the water in a home’s plumbing, essential for keeping the practice running smoothly.
Factors Impacting Collections: Various elements can reduce collections, similar to unexpected expenses in a personal budget.
Analysis by Payer: This analysis helps the practice adapt, akin to adjusting plans based on friends’ behavior.
Collections in a dental practice represent the actual earnings from provided services, distinct from the initially charged or agreed-upon amounts. It’s similar to planning a budget for a household. You might estimate earning a certain amount, but unexpected expenses or changes can mean you end up with less. Understanding collections is like tracking money in and out, helping you make smart decisions for your dental practice’s financial health.
Export Collections Data to Review Referral Sources
By studying Collections by referral source, your practice can determine which sources are most effective in bringing in high-value patients and where you should focus your marketing and networking efforts.
To export Collections data:
From the Collections Board, locate the Collections metric and then click on the magnifying glass icon
Click on the Export button in the right corner
A .csv file will download to your computer automatically. Once downloaded to your computer, click to open it (requires Excel or Numbers)
Locate the Referral Source column in the exported data. If referral source data is available, it will be shown in this column for each patient that was included in the report
