As part of a collaboration with business analytics provider, Gaidge, after each calendar quarter and full calendar year the AAO receives and shares with members key metrics compiled from a subset of Gaidge client practices. This subset includes:
● More than 300 single-doctor practices under $1 million in quarterly productivity; and
● More than 200 multiple-doctor practices with up to 10 locations.
The purpose of the collaboration is to aid members with assessment of practice health, short-term and long-term goal-setting and other key practice processes.
Q2 2023 Shows Slight Growth in Several Key Metrics
Gaidge reports that during the second quarter of 2023, despite consumer concerns about overall inflation practices experienced slight growth, or at least stability on several key metrics.
● The second quarter of 2023 finished with growth in Net Production over Q2 2022 at .5% in single-doctor practices and .4% in multi-doctor practices.
● In Net Collection, Q2 2023 saw growth over Q2 2022 of .8% in single-doctor practices and .7% in multi-doctor practices.
● Receivables increased 5.5% in single-doctor practices and 8.6% in multiple doctor practices over Q2 2022.
● New Patient Calls and Exams were up slightly over Q2 2022 in multiple-doctor practices (1.7% and 1.2%, respectively), while single-doctor practices declined on the same metrics
(-4.0 and -1.9%, respectively).
● Total Starts decreased from Q2 2022 by -1.8% in single-doctor practices and by -1.0% in multi-doctor practices.
Start outcomes include a decline in Aligner Starts for the sixth consecutive quarter: Down -2.3% in single-doctor practices and -4.4% in multi-doctor practices, as compared with Q2 2022. Declines on this metric have continued a trend of easing up from those of recent quarters, however. For example, Q4 2022 Aligner Starts decreased by -8.9% in single-doctor practices and -12.9% in multi-doctor practices, as compared with Q4 2021.
View Additional Q2 2023 Metrics from Gaidge
* A factor that may be adding to challenges for stable production or growth in some practices is the impact of the Great Resignation. If filling open positions has been a challenge for your practice recently, be sure to explore the AAO’s collection of Recruiting Resources including Staff Recruiting and Hiring Tools. In addition, members are free to share the video, “A Career That’s All Smiles”. In addition, watch for our new collection of free introductory team training videos, set to launch later this month.
