How Big Would Your Practice Be If You Never Lost A Patient

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Interesting thought …

How big would your practice be if you never lost a patient?

What if people never left you and they continued to see you a few times a year … how many more patients would you have than you currently have now?

How To Calculate The Value of Retaining Patients

This got me thinking … I really should take a look at my contact database.

  • My practice has seen approximately 37,000 people over the last 19 years.
  • The average sale (across all appointment types) when a patient comes in to see us is about $135
  • The average patient comes in to see us 3-4 times per year

“Database Size”
x
“$/£ Av Consult”
x
“Av. # Visits”
=
“Potential $/£ Annual Turnover”

In my practice that would calculate to a turnover of $14.85 million.

In reality, the practice turnover is less than 20% of that.

Do I Really Need More NEW Patient Leads?

So I asked myself, “Do I really need more patients?”

My response: “I really need to take a look at the relationships we currently have, check-in with those people and follow them up!”

Further Questions For You To Ask Yourself

  1. Do we wait for them to come and see us? Or do we get them to be more proactive in their healthcare?
  2. Is it more valuable to put some time into the patients we have already seen and that are currently sitting in your database… Or do you go about trying to get new patients in through the door.

Doesn’t it make sense to first work with what you’ve already got?

What do you think?