The Financial and Performance Monitors Orthodontists Should Use to Understand the Status and Performance of Their Practice

Flying an airplane without instruments is sometimes called “flying by the seat of your pants.” Although it is possible to fly this way, it is not the most effective and safe way to fly, especially over long distances. Managing a practice “by the seat of your pants” is also possible, but it is not the most effective and efficient practice management philosophy as a long-term approach. Present-day orthodontists must pay the same attention to the performance of the practice as is paid to clinical treatment protocols. This vital monitoring information must be carefully linked to other practice management systems, such as the practice budget, practice goals, staff training, employee performance reviews, salaries, and incentive bonuses.