Why do five star patient ratings matter? [Infographic]
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Improving Care Through Patient Input: The Value of Patient Feedback
By: Ava Davis Patient feedback is becoming an increasingly important tool for healthcare organizations that want to improve the quality of care they provide. Implementing an effective patient feedback system can empower patients, enable organizations to be more responsive to patient needs, and ultimately help improve health outcomes. This article explores the value of patient…
Texting for recalls and preventative health
Scheduling recalls with your existing patients is one of the best ways to keep them healthy, improve goodwill and maintain good cash flow. Your existing patients or clients are your: Priority for attention and care Least expensive appointments to secure Biggest potential advocates or detractors Recalls are not for every specialty. They work best for…
Find Gross Profit per Appointment (PLV part 2)
The first step to find patient lifetime value is to find gross profit per appointment. That is, the amount of real money you make from each appointment. It is reduced by the direct costs you incur for each appointment. Why use Gross Profit instead of Gross Revenue or Net Profit? Healthcare providers may have a…
Find Patient Recall Time and Rate (PLV part 3)
It is critical to know how long your patients stay with you for forecasting revenue. We will refer to this metric as your Patient Recall Time. Patient recall time influences patient lifetime value a lot. It allows you to better budget marketing expenses. Additionally, it can help you predict capacity and future staffing needs. EHRs…
Texting for patient reviews and ratings
Online ratings and reviews increasingly drive consumer decisions. Your online ratings determine how easy it is for prospective patients to find you and whether they book you. Ratings also influence how your existing patients and peers perceive you. They are often the first impression that someone has of you and your practice. Providing great care…
What is Patient Lifetime Value? (PLV part 1)
What is Patient Lifetime Value, exactly? Simply put, it is an estimate of the total money you receive for services for a patient (or client) during their lifetime. The term is a bit off putting. How does “do no harm” align with viewing a patient in terms of dollars? It may not be as antithetical to…
