The Nuts and Bolts of A Successful Practice
The success of any business boils down to 4 essential components. If you have all 4 of these in place, congratulations! It is likely your practice is generating a solid 6 figure income for you year after year. If you have any weak links, your whole business model can lead to stress, instability, and severe problems.
1. Lead generation– There has to be a constant stream of new people hearing about your practice and taking interest
2. Lead conversion- A certain percentage of these people must become patients
3. Patient Retention– Low turnover equals more stability
4. Per Patient Revenue–Must make enough per patient to have a financially viable pratice
Now, we have heard from a lot of practitioners who seem to think that all of their problems are caused by poor lead generation. They just aren’t getting enough new patients in the door. Believe it or not, however, we have also worked with practices who only get 3-4 new patients a week and are still seeing between 100-180 patient visits per week and are grossing $3-500,000 per year!
How could this be? Well, their patient retention is very high. And they charge more per patient than their competition. They are using a specific methodology in their patient education and marketing that sets the stage for higher quality, more compliant patients. This can be done in a very ethical and honest way that helps the patient experience the deepest potential of the medicine you offer.
We are interested in putting together a teleseminar series that walks you through the details of each of these 4 components of practice success with a particular focus on patient education and retention. If this sounds appealing to you, we’d love to hear from you! Email us at info@buildyourdreampractice.net and let us know what your needs/wants are.
Kevin and Dominic