3 Strategies To Retain Patients And Increase Revenue
In this episode……
ACU-051 Today I’m going to talk about the biggest mistakes I see newbies making with regards to patient retention that keeps you from gaining any traction. No matter what type of marketing you do, how much you spend on advertising, If you cannot keep your patients committed to a treatment plan long enough to get well, then you are spinning your wheels.
Now before I go any further I feel like it’s super important to define patient retention. Patient retention is a practice’s ability to turn new patients into loyal patients. Patient retention is measured as a percentage, which you can calculate by dividing the number of returning patients by the total number of patients for your practice minus the number of new patients.
The higher your retention rate is, the better it is for your practice. That’s because patient retention and practice profitability are linked.
If you want an average practice then you would shoot for about 48%. Really we are getting ahead of ourselves, because you probably haven’t been in practice long enough to have enough numbers to play this game.
As a new practitioner the goal is to create a relationship where the patient has recovered or is recovering from their chief complaint, they refer their friends and family to you, and they come back to get treatment as needed.
The three most important strategies to consider with regards to patient retention are:
YOU
Removing barriers to entry
Having multiple positive touchpoints (or creating a positive patient experience)
BONUS: You’ll want to listen to the end because I am going to give my top 5 secrets to building relationships and retaining patients.