Medical Practice Review
Medical Practice Review
A Medical Practice Review can be compared to an annual patient check-up. It is often a way to spot and identify any deficiencies or concerns before they become a problem. Just as a patient check-up checks on the health of the patient’s overall health and well being, so does a Medical Practice Review check the true health and well-being of your medical practice.
We at Social Media Solutions for Doctors provide Medical Practice Review as part of the initial consultation service and practice development program for doctors and other medical practitioners. Our clients pay a nominal fee to receive this, as well as taking advantage of our mobile website design services and social media marketing program services which are designed to help grow practice income and profitability.
A Medical Practice Review: How Does It Work?
The Medical Practice Review is a vital tool to identify problems and unhealthy trends, such as:
- Ineffective customer service or patient care issues like follow up and appointment setting
- Compliance issues with state or other regulatory bodies
- Financial irregularities, like excessive expenditures or employee embezzlement
The assessment can also be used as a tool to improve, promote, and or encourage healthy trends.
You will also be able to confirm:
- Growth and development opportunities inside and outside of your practice
- Identify staff training and development needs
- Identify ways to create sales opportunities to new and existing customers
- How to best Measure and Monitor the return of your marketing investments and brand building
- Expand on ways to enhancements your practice or group marketing campaigns for new patient acquisition
The ability to measure and monitor your practice performance is key to longevity and financial stability and 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).
- Who is accountable for the results?
- How many of those consultations are now actually became paying patients?
Measuring Success and Accountability
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, 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.
- Set relevant meeting topics.
- Performance should be measured relative to goals.
- Identify the most consistent patient issues or concerns.
- Use of the post-care programs as a tool for up-sell opportunities.
Social Media Solutions for Doctors will provide professional assistance and guidance in matters relating to practice development and marketing. We also can suggest a list of topics for your weekly meetings and your monthly Newsletter.
Call Us Today to discuss scheduling a practice review and assessment. We are here to help!