Overview
The Financial Metrics Dashboard in ChiroHD provides essential insights into the financial health of your practice, including metrics such as charges per visit, income by referral source, and lifetime patient value. This guide will help you navigate and understand the dashboard effectively.
Accessing the Financial Metrics Dashboard
To access the Financial Dashboard:
Navigate to your live location.
Go to Reporting > Reporting Dashboards > Financial
Select Date Range:
- Use the quick date selector to choose a predefined date range or specify a custom start and end date to focus on specific periods of time.
Key Metrics and Definitions
Quick Date Select or Date Range Selection
Use the Quick Date Select feature to choose a predefined date range or enter a custom date range using the start and end date fields.
Hover Definitions
Hover over the question marks next to each metric for detailed explanations of the data.
INP Visit Average (Interested New Patient Visit Average):
This metric divides the total number of interested new patients by the total number of visits. It estimates how many visits an interested new patient will have over the course of a year.
Interested New Patient: A patient who has been charged a new patient charge (that is tracked under System Configuration > Tracking/Reporting > New Patient category) and has had at least two additional visits/charges after that initial new patient charge.
Visit: A single date of service/event for a patient, regardless of how many encounters or charges occur on that day.
Charges Per Visit
This metric shows the total charged amount of all services and inventory charges, minus inline-write offs divided by total visits for the period.
This data is based on the last 12-month rolling period.
Income Per Visit
This metrics is calculated by taking your interested new patient visit average and dividing that by your total income.
See above definition of Interested New Patient
This data is based on the last 12-month rolling period.
Lifetime Value
This metrics is calculated by taking Interested New Patient visit average and multiplying that by your calculated average income per visit.
This data is based on the last 12-month rolling period.
Income by Referral Source
Breaks down the total income within the selected date range by referral source, showing both percentage and amount per source.
Use the scroll bar to view all referral sources.
Income by Case Type
Displays total income based on different case types within the selected date range.
This does not go by what an office has renamed a case as, it only goes by the set case types in ChiroHD.
Charges by Category
This metric shows the total amount of services or charges on a ledger, categorized by the type of service (e.g., adjustments, x-rays).
The category reflects how services are categorized within your system, which you can setup or view by navigating to your System Dashboard > System Settings > Services > Click on the individual service > Category.
Conclusion
The Financial Metrics Dashboard offers a detailed breakdown of your office’s financial performance, helping you analyze key metrics like charges per visit, income per visit, lifetime value, and income sources. By leveraging this data, you can make informed financial decisions to enhance the profitability and efficiency of your practice.