A dental handpiece and general implement rack is provided, along with a method of tracking implement use in a patient environment. The rack comprises a housing having a plurality of removable trays therein, the trays being adapted to support a dental implement thereon. Each tray includes a visual indicator that matches a marker placed on an implement being stored in that tray. The tray indicators are utilized to determine which implement has been utilized during the course of the day in order to implement sterilization procedures for only those implements that have been used on patients and are now unsterile. The device and associated method prevent sterilization by autoclave for implements that do not require cleaning, thereby extending their useful life and preventing over-cleaning thereof. The housing is preferably a wall-mountable structure having a hinged lid closure and a ventilated design to prevent moisture capture therein.