In this busy world, how are you supposed to get your patients to pay attention to what matters most: their health? How do you cut through the noise to remind patients about appointments, preventive care, and important announcements? You have a big advantage. You have a personal connection with your patients and clients. They know…
In order to calculate patient lifetime value, you must first have your: Gross Profit per Appointment Patient Recall Rate Patient Lifespan (or Patient Churn Rate) Once you have these figures, finding Patient Lifetime Value is simple. The hard part is the pre-work. Patient Lifetime Value Formula Multiply your patient lifespan by your patient recall rate…
Patient churn rate is the most difficult metric of patient lifetime value to calculate. Before calculating it, be sure that you have found your max patient recall time and rate. What is patient churn rate and patient lifespan? Patient lifespan is the number of time periods (e.g. years) a patient sees you, on average. Patient…
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…
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…
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…
The best standalone telehealth platforms If your EHR does not come with a telehealth option, fear not. We have compiled a list of the best standalone telehealth platforms. From that list, we have picked our favorite three telehealth vendors for private practices. There are dozens of independent telehealth products well-suited for private practices. Expect to see…
The COVID-19 outbreak has rightfully frightened the world. Your patients are scared and worried for their and their family’s safety. Experts believe that the coming weeks will see the largest number of hospitalizations and office visits for the virus. Before things get better, they will get worse. Many specialists have closed their practices. If you…
If your healthcare or wellness practice is closed right now, you are not alone. 96% of small businesses are impacted by COVID-19. Half do not believe they can stay in business under these conditions for another three months. Due to mass layoffs, economic stagnation, taxes and accelerating unemployment, cash-strapped clients will defer all unnecessary expenses. While…
You’re juggling reminders, referrals, reviews, and revenue—while your team burns time across five tools and 20 browser tabs. A CRM can clean that up. The right one makes your business faster. The wrong one makes it slower—forever. But here’s the trick: it’s not about features. What matters most is how easy it is to connect,…
Provider Spotlight: Dr. Ashley Thompson of New Beginnings Chiropractic 🌟💆♀️🌱 In this spotlight, we sit down with Dr. Thompson, founder of New Beginnings Chiropractic in Wichita, Kansas—a practice grounded in personalized healing. With a deep understanding that true wellness goes beyond symptom management, Dr. Thompson takes a root-cause approach to help her patients reclaim their…
