How can a patient retention program helps grow your practice?
- The longer the patient stays on treatment, until he/she reaches wellness, the better the outcome.
- Educates patients as to why it’s important to continue treatment beyond symptom relief.
- Patients with better outcomes return more often and refer others more rapidly.
- Proper patient retention increases most practices revenue by 30 to 50% without the need for new patients.
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How to calculate retention rate...and value?
Record the answers to these questions to reach a conclusion:
- How many new patients do you see per week?
- How many total patients do you see per week?
- How much does the practice deposit in the bank weekly (average)?
- Number of weekly visits divided by new patients = Number of visits per patient
- Weekly income divided by number of weekly visits = Average revenue per visit
- Average revenue per visit multiplied by additional visits per patient (5 or 10) = Revenue increase per patient
- Increased revenue per patient multiplied by the number of new patients weekly = Weekly increase
- Weekly increase multiplied by 52 (weeks per year) = Total revenue increase – or…the value of patient retention program.
How can you show a Chiropractic patient quantifiable proof of success?
We know that when a Chiropractor has a patient on a care plan, that re-exams every 3 or 4 weeks are normal. When the patient arrives for the exam, he or she fills out a form that tells you his or her current pain level and perhaps some more data about his or her condition. We also know that beyond conversation with the patient, not much is often done with this data. You do your exam and check the areas of pain or weakness for progress, adjust or otherwise treat the patient and make your notes. You discuss the patient’s condition, and he or she goes on their way until next time.
People forget most of what they hear in conversation. But it's a proven fact that visual images increase learning at a rate of 400% and enable users to process the information faster and with better retention. Therefore, patient retention is more effective with visual media.
Now a staff member can spend 30 seconds after each monthly re-exam, input a few numbers, the system will create, or update, a patient progress graph. You will add the target for the next re-exam and spend a few minutes with the patient going over progress as well as the target for next month. You have now focused the patient on his or her progress or advancement through relief care to corrective care toward stabilization or wellness, and the target for next month. This simple process can help double your practice. Patient retention can now be this easy.