Why do five star patient ratings matter? [Infographic]
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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…
Find Patient Churn Rate (PLV part 4)
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…
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…
3 patient self-scheduling workflows for private practices
Setting up patient self-scheduling If you allow patients to self-schedule appointments, how will these appointments get on your calendar? How do you prevent overbookings? How can you be sure that the dates and times that the patient sees are actually open? If your EHR offers scheduling through a patient portal, it should handle the conflict…
How to get patient reviews to increase your ratings
Asking for feedback is simple, but not easy. All of us crave to know how we measure up in this crowded world. Asking for patient reviews requires humility as well as an understanding of their importance. Knowing how to get patient reviews is critical for improving a clinician’s rating and care. A few clinicians and…
Find Patient Lifetime Value (PLV part 5)
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…
