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Reporting: a valuable tool for a successful business

Analyzing data is an important part of every business, regardless of its industry or size. This is the information that tells you exactly how your business is doing, what is working, what isn’t and what your strengths and weaknesses are.

If you aren’t analyzing as much data on your business as possible, you are essentially operating with your eyes closed, which is not the fast-track to success.

In an effort to help you collect and analyze the correct data, there are certain reports that you should be running on a regular basis. The data gathered will help you make intelligent business decisions that lead to growth and, ultimately, success.

Sales and revenue are the heart and soul of every business. Without them, you have nothing. It’s important that you review your sales and revenue numbers as often as possible to make sure that you are on track to meet or exceed your monthly goals, while also constantly trending upward in terms of growth.

Knowing your sales and revenue is key, as you need it to compare directly against your expenses. If a business isn’t turning a healthy profit month-after-month, you need to adjust.

Something as simple as running a report from your Patient7 system every week allows you to dive into enough data to quickly determine whether or not your sales and revenue are on track or need to be addressed. Get a big-picture financial overview of your clinic in easy-to-read, customizable reports that work for your business. It’s important that you are proactive—sitting back and hoping for a change will never work—you need to take action in order to see positive upward movement.

When you have had a busy week, you don’t have time to look through the calendar and review which patients arrived for their appointments. Patient7 can run a report every day or every week, that can show your staff who needs to be called and rebooked. Missed appointments are missed revenue and staying on top of it can be an automated report for your staff to follow up.

The growth of your business can be part of a marketing strategy that includes social media and advertising. Social media provides small business owners with an amazing platform to promote and market their business, but it takes the right kind of content to connect with your audience. All of the major social media platforms—Facebook, Instagram and Twitter—have analytics available, which are free to access.

Your social media analytics data will show you what content was the most popular and what content was not well received, which allows you to focus all of your social media energy on strategies that work to drive engagement and sales.

Now on social media, you can also purchase advertising, that can be targeted to specific demographics such as gender, geographical area, people with specific interests, etc. Spending money on targeted advertising is a valuable method of business growth. However, you want to ensure that the money that you are spending is converting to sales for your business. Patient7 can track new patient referral sources and then you can run a report to see what channels are working for you.

There are so many aspects of a business that need to be analyzed and adjusted in order to experience forward progress. Patient7 offers many more reports, as an integrated module in the system. As you get used to analyzing the data on a regular basis, you might add additional reports and even scale back the reporting frequency on some. Use the data to your advantage, leveraging it to make wise business decisions