Recently a new client contacted us for Tax and Business Planning to cure his practice’s cash flow flu. His practice was suffering from extremely high overhead, resulting in profitability that was more than $150,000 below the industry average. Unfortunately, his dental-specific CPA simply showed him which overhead expenses were too high using industry data, without providing any solutions to address his problem.

In reality, his high overhead was more of a symptom, rather than the real problem. By conducting a detailed analysis of his practice, we were able to help him devise a game plan to dramatically improve his practice profitability. We used the following key performance indicators (KPIs) to quickly diagnose his practice shortcomings and provide actionable strategies for immediate improvement. Here are seven KPIs you need to track.