Social Media Solutions for Doctors provides this information as part of our consultation service and practice development program for doctors and other medical practitioners. Our clients pay a nominal fee to receive this, as well as using our mobile website design services and social media services to help grow the practice profitability.
Suggested Weekly Topics Checklist
The Annual Practice Assessment: How Does It Work?
The annual practice assessment is a vital tool that can be used to identify problems and unhealthy trends, such as:
- Customer service or patient care issues or concerns
- Compliance issues with state or other regulatory bodies
- Financial irregularities, such as embezzlement
The assessment can also be used as a tool to discover, promote, and encourage healthy trends, staff promotions, or new hire needs in your practice. You will also be able to confirm:
- Growth and development opportunities inside and outside of your practice
- Staff training and development needs
- Promotional opportunities for new and existing products and services
- Discussion and measurement of the return on your marketing investments and brand building
- Making additional enhancements to your practice or group marketing campaigns to ensure the furthest reach and highest yields for new patient acquisition
The ability to measure and monitor your practice performance is key to longevity and financial practice success.
How to Gauge the Health of Your Practice
You must be able to:
- Identify how many leads your marketing efforts produce each week.
- How many of those leads are converted by your staff to actual consultations (a 24-month history review is recommended).
- How many of those consultations are now actual paying clients?
The Measure of Success
A conversion rate (CR) rule of thumb is to have no less than a 55% closure rate for all email leads and phone call inquiries. For consultation closure conversion (CCC), there should be a rate of no less than 80% closure for face-to-face consultations to clients becoming paying patients.
- How much revenue was generated by that effort for the week?
- How many upsells with patient financing offers and acceptance occurred for the week?
Your EMR, accountant, practice manager, and office staff should be required to provide you with the necessary updates from the tools and reports generated on a weekly basis. You must know what your closing ratio is for leads, calls, etc.
You can then use the information provided to set your goal and growth targets. Monthly budgets should grow by no less than 15% above the prior month or over what you did last year. Break up your goals in daily, weekly, monthly increments to ensure annual growth.