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A Minute (Or Two) With Colin Receveur, Episode 15
– When a practice is not achieving the level of success they want, maybe they’re having cash flow issues.
– Maybe they’re not hitting the financial milestones they want, maybe they have holes in their schedule, maybe their staff and the doctor just don’t feel like they’re busy enough.
– A lot of times, these problems come back to the patient’s leaving out the back door and not new patients coming in the front door.
– The common mindset is, well, if I just had more new patients, I could fix all these problems, just spend more on marketing.
– That’s oftentimes what a doctor comes to us and says. “Well, I thought I needed 30 new patients a month. I actually need 50 new patients a month.”
– We’ve got a really, really cool graphic that we can do a snapshot of the practice and show, hey, here’s the positive, how many patients you’re gaining, and then here’s also the negative, here’s how many patients you’re losing.
– Oftentimes, you see this line going along of new patients and it’s about here, and then you see this line of losing patients and it’s just growing and growing and growing.
– The practice is net losing 20, 30, 40, 50 new net patients a month because of the attrition going out the back door.
– And understanding the dynamics in the practice, if you’re a practice that’s trying to survive on just new patients alone, you better be prepared to spend on marketing because that’s what drives that.
– If you’re willing to look at other strategies to tightening up and pulling some different levers to making sure the patients aren’t leaving after they come in, there’s a lot cheaper ways to grow your practice.