How Should New Patients be Tracked?
Updated: Oct 25, 2019
The focus of our last blog was the role of an external marketing consultant. Marketing is important to your business whether you want to replace patients that are lost for various uncontrollable reasons or you want to expand your schedule and grow your business. It should be done consistently but many times the office staff does not have the time to complete important marketing tasks. In this case, it would be beneficial to hire an external marketing consultant. Our poll last week asked "Is Your Practice Present on Instagram?" Sixty percent said "Yes" and 40% said "No". Instagram can be a great way to be discovered by new patients as well as engage with your current patients.
This week's blog will list what details need to be tracked on every new patient and why. Tracking new patients has proven to be very beneficial. If done the correct way, a value can be placed on these patients and the channels they are coming from. Once this value is identified, you can focus on the most cost-effective methods of marketing. Questions like "How many patients did the Radio Ad that cost $300 a week bring in?" can be answered analytically. It can then be determined if it is worth continuing to fund the radio ad or find another avenue to reach new patients.
What Should be Tracked on New Patients:
Date of Appointment
This will imply that the patient kept their appointment and you received production from them.
Analysis can be done on a daily, monthly, or yearly basis provided you record the date of the appointment.
Name and Contact Information.
This can be used to solicit referrals or reviews.
After their first appointment you can send an e-mail or text asking for them to rate you of their first experience.
New Patient or Reactivation
A 'Reactivated Patient' is responding to some sort of promotion for patients who have not been seen for a number of years.
Reactivation projects take a substantial amount of office staff time, however many times they are more cost effective than recruiting brand new patients.
Referral Source and Corresponding Channel
Sixty percent of new patients should come from referrals. It is the best form of internal marketing due to its low cost and powerful results.
Different forms of external marketing like print media and radio or TV ads are valuable for some specialties and locations but not for most.
Marketing channels include but are not limited to: Social Media, Internet Searches, Print Media, Organizations, Location, Referral from Friend, or Referral from Doctor
Treatment Plan Value
The amount that a new patient is worth can be determined based on this dollar amount.
The amount that a new patient costs can be determined based on this dollar amount.
Tracking marketing spend can also identify processes that are too expensive and provide a chance to make changes to marketing methods to make greater profit by lowering cost.
At Doctors CFO, we have a New Patient Tracker that makes it easy to create a personalized plan, record key information, and get built in analysis. Among the most important questions that need answered are "Are you meeting your monthly and yearly goals for new patients?" "Are you getting the most profit with the least amount of cost?"
We hope you are enjoying these articles and are passing them along to other practice owners and office managers. If you have a question that you would like answers to in a blog post, please email it to firstname.lastname@example.org. If you have not signed up for our blog, please do, so you can continue to receive these important insights and participate in our weekly polls.
Doctors CFO has a KPI tool to help you track your KPIs. You might also be interested in our New Patient Tracking Solution and a Salary Planning Solution, to see these and other products please go to please go to https://www.drcfo.com/shop.
Developing a management report is not easy and Doctors CFO currently has a robust model for most practice types that is customized for our monthly and bi-monthly clients. If you have questions on how this model applies to your practice or you are interested in applying the Doctors CFO model in your practice, via one of our annual, bi-monthly or monthly assessments, please reach out to us as email@example.com. Doctors CFO provides financial analysis and valuations for doctors and dentists in the United States. We also offer programs for new patient marketing, revenue and collection management, medical practice consultant, dental consultant, and practice analysis.
(c) 2018 Doctors CFO, All Rights Reserved
private practice consulting management consulting private practice consulting for doctors and dentists new patient acquisition new patients managing medical staff managing dental staff helping managing staff increasing patient revenue profitable practice increase practice revenue practice revenue get more patients practice growth management reporting medical KPI healthcare ROI practice manager practice analysis medical cfo medical consulting healthcare consulting medical office management practice management medical staff front office clinic management top dental consultants top medical consultants salary planning extend knowledge business specialist what do you struggle with new patients practice valuation business valuation equipment amortization equipment ROI equipment planning how to make more money in a practice Do private practice doctors make more money? How much does a private practice make? high impact healthcare consulting nexus medical consulting new jersey medical consulting axiom medical consulting orchard medical consulting medical coding outsourcing employers dental services dental clinics chicago medical billing and coding jobs near me emergency dental services near me medical billing specialist salary emergency dental services dental clinics north free dental clinics free dental clinics near me counseling private practice business plan medical practice consultant medical consulting jobs ohsu dental clinics dental services group medical billing and coding salary per hour medical billing jobs near me aps medical billing remote medical billing jobs starting a private practice in counseling private practice therapist medical consulting medical billing specialist private practice therapy how to start a counseling private practice how to start a private practice starting a private practice kareo medical billing private practice counseling american medical billing association medical billing jobs how much does it cost to start a medical practice start a private practice medical billing resume peak dental services medical billing and coding certificate dental clinics how much do therapists make medical billing salary medical billing and coding jobs start a medical billing company private practices near me medical billing from home how to be a good therapist start a medical practice dental services near me medical billing and coding online courses cost medical billing and coding pay medical billing and coding job description medical billing and coding classes pacific dental services locations medical billing denial codes and reasons medical billing and coding from home medical billing jobs from home accredited medical billing and coding schools online with financial aid medical billing and coding salary by state dentures and dental services work from home medical billing how to be a therapist medical billing and coding jobs from home how to become a therapist medical billing outsourcing free dental services for adults medical billing coding salaries medical billing and coding programs medical billing and coding online courses free medical billing and coding schools near me medical billing and coding salary medical consulting firm top medical billing company medical billing software dental health services what is medical billing medical billing training top accredited online medical billing and coding schools dental clinics for low income families dental clinics near me accredited medical billing and coding schools local free dental clinics medical billing and coding classes near me epic medical billing meaningful use in healthcare medical billing services low cost dental clinics near me free dental services medical billing classes accredited medical billing and coding schools online medical billing advocate medical billing certification what is medical billing and coding free emergency dental services medical billing and coding school medical billing company medical billing company medical billing and coding schools medical billing companies meaningful use healthcare