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.
Q3 2023 Shows Growth in Receivables
Gaidge reports that the third quarter of 2023 saw growth in receivables over Q3 2022, with single-doctor practices up 5.1% and multi-doctor practices up 3.4%.
Some of the growth in receivables may reflect the fact that orthodontists have been increasing fees to offset inflation. With average contract fees up 2.7% in single-doctor practices and 2.1% in multi-doctor practices, the Q3 increases were similar to quarter-over-quarter increases reported throughout 2023.
Other metrics for Q3 were down slightly or flat in comparison with Q3 2022. Gaidge reports the traditionally slow month of September was especially challenging this year. The month’s decreases largely drove the quarterly declines/flat performance across the spectrum of metrics.
2023 Q3 metric comparisons with Q3 2022 included:
- Net production declined -1.8% in single-doctor practices and increased by .1% in multi-doctor practices.
- Net collection declined by -.2% in single-doctor practices and was flat (0.0% change) in multi-doctor practices.
- New patient calls were down -4.8% in both single-doctor and multi-doctor practices.
- Total patient exams saw less of a decline: down -2.3% in single-doctor practices and -2.9% in multi-doctor practices.
- Conversion saw slight declines of -1.4% in single-doctor practices and -.2 % in multi-doctor practices.
- Clear aligner starts continued to decline overall for the seventh consecutive quarter; however, the metrics were up .6% in single-doctor practices and down -2.6% in multi-doctor practices, so the decrease was not as severe as those of 2022.
* If your practice is planning to update marketing strategies and tactics for 2024, keep in mind that free resources from the AAO Consumer Awareness Program (CAP) are available for member use. These include the guide, Making Social Media Work for You, and campaign ads, office flyers and posters, social media posts, creative elements and copy, website banners, videos, logos, and blog articles.
Recent additions to the collection include the 2023 Straight Talk News video series and the 2023 National Orthodontic Health Month collection, re-developed to be suitable for use year-round. From June 1 through the end of September 2023, CAP digital campaigns drove over 3.38 million people to the AAO consumer website.