The Profitability Formula is the foundation of success in a dental practice. Dental Intelligence's Profitability Formula is designed to take all aspects of performance into consideration, to tell you exactly how profitable your practice is.
Now you can access a personalized Profitability Formula Dashboard to help you calculate performance and identify areas that can be improved upon to reach your goals.
Check out this video that explains how the Profitability Formula dashboard works:
How to Use the Profitability Formula Dashboard
In your Dental Intelligence Analytics portal, access the Profitability Formula Dashboard
If you have Engagement, you can also access the Profitability Formula Dashboard by selecting the Product Switcher Icon in the top right hand corner of your screen:
Note: An Engagement user without Profitability Formula permissions will not see the Profitability Formula in the dashboard. To learn more about Engagement user permissions, click here.
Now that you have the dashboard open, select the Month you would like to view by selecting the Calendar Icon at the top of the page
Dental Intelligence will automatically populate the Visits (Per Month), the Production ($ Per Visit), and the Collection % according to the month you have selected
In these categories you are able to add and edit goals to track your actual performance to desired performance. To add a goal, select the Green Goal found under each statistic
Next you will enter in the Overhead (monthly expenses) from that same Month you selected as either an Amount ($) or as Revenue (%)
Once you have done this we will calculate your Estimated Profits from that Month
To learn more about the Profitability formula, refer to this article.