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…
Search isn’t what it used to be. As Meddkit’s recent report points out, it’s no longer about keyword volume—it’s about how well your content meets the intent behind a question. Patients are still looking for care online—but now they’re asking tools like ChatGPT or Google’s AI-powered search assistant instead of scrolling through websites. That means…
This month, we’re excited to feature Christina DiBernardo, licensed mental health counselor and founder of Expressive Connections Mental Health Counseling in New York. Christina shares her journey to creating a practice rooted in connection, creativity, and individualized care. She draws from a wide range of therapeutic modalities—including art therapy, EMDR, CBT, DBT, ACT and more—to…
