Sikka Software Identifies Key Business Performance Factors Behind Multi-Billion-Dollar U.S. Dental Industry

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New research analyzes more than 10,000 Dental practices to identify top success criteria

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“Using the data from the thousands of Dental practices that use Sikka Practice Optimizer, we’re able to glean valuable, quantitative insights on what makes a practice successful

Sikka Software, the leading small business healthcare cloud company, today announced the release of its latest Dental Health Success Report, which uses data from more than 10,000 active opt-in practices to identify the top criteria behind successful Dental practices.

“Using the data from the thousands of Dental practices that use Sikka Practice Optimizer, we’re able to glean valuable, quantitative insights on what makes a practice successful – these are the key metrics driving both the quality of care and financial performance for the entire industry,” said Vijay Sikka, CEO of Sikka Software. “We look forward to sharing these results and more with our customers at the Greater New York Dental Meeting.”

Through data analysis from the company’s cloud-based platform, Sikka Platform Utility®, Sikka has identified the 10 success criteria that are key to a high-performing, financially sound Dental practice. Sample best practices include:

  • Successful practices should have 100 percent of new patients undergo comprehensive exams
  • Collections, a metric of office managers, should be 100 percent of the adjusted production: an increase or decrease from that amount indicates either missed payment collection opportunities or over-collection, which can result in time-intensive refunds
  • Practices should minimize their ratio of total no shows to total patient appointments, a metric that indicates how well the team is educating patients on the importance of appointments to their good health (the target number should be under one percent)
  • 50 percent of a practice’s existing patients should refer at least one or more patients to the practice during their patient “lifetime” to build a solid word-of-mouth campaign
  • Fees should be aligned with how dentists practice, such as their style and frequency, with factors taken into account such as differences in production goals and overhead costs

Sikka Software’s Practice Optimizer Dental is a powerful Business Intelligence tool that optimizes fees, provides profit and loss analysis, and delivers marketing ROI through sophisticated business analytics. The product integrates seamlessly with existing practice management software and is powered by the Sikka platform, the industry leader in practice intelligence and optimization technology.

Key features of Practice Optimizer Dental include:

  • Practice and Financial Dashboards
  • KPIs Benchmarking, Comparison and Recommendations
  • Fee Schedule Optimizer
  • Forecasting Reports and Marketing ROI

As the business intelligence authority in the dental industry, Sikka Software has seen significant year-over-year growth, with a 136 percent increase in bookings and 80 percent revenue increase. Meanwhile, Sikka has a near-perfect retention record among customers. The company will be exhibiting at the Greater New York Dental Meeting from November 28-December 3, 2014.

Sikka Software’s solutions to big data in outpatient healthcare are not limited to the Dental industry. The company also offers business intelligence apps to optimize Animal Health, Hearing Care, Optometry, and Chiropractic practices. Using data from the company’s cloud-based platform, Sikka Platform Utility®, Sikka has identified 10 success criteria that are crucial to the both the quality of care and overall financial health of successful practices.
Sikka customers can access their own Success Reports after registering online.

About Sikka Software

Sikka Software provides a platform for small and medium-sized business healthcare apps. The company's products help healthcare providers and other small businesses optimize their business via a series of easy to use cloud-based applications. With over 26 apps built on Sikka Platform Utility with over 12,800 installations, Sikka Software is the leader in the U.S. Dental, Animal Health and Hearing Care markets. The company is now supporting a real time optimization and information network with providers, patients, consultants, manufacturers and financial service providers.

A privately-held company, Sikka Software is headquartered in Milpitas, California with offices in the United States and in India. More information including may be found at http://www.sikkasoftware.com.

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