Your Fortune Is In The Follow-Up
Most specialists that I speak with about their practice (during the initial 10 min. Strategy Session), typically tell me that they need one thing the MOST – New Patients.
Yes, we all would love more new patients, right? Who wouldn’t?
But typically, as we dive into their situation a little deeper, the same common problem rears its ugly head – follow up or actually lack of.
Let me explain…
How do you follow up?
Here’s a typical scenario. A prospective patient either calls, emails or Facebook messages your practice for EITHER:
- More information about a particular procedure
- To possibly schedule an appointment if all of their questions are answered
What happens in either of these scenarios, at your practice, if your team is NOT able to get them scheduled? (ahhh: The Million Dollar Question)
How many steps are in your follow-up protocol?
I’d bet for most of you the answer is NONE. Don’t feel bad though, most are in the same boat.
Start Here for New Patients
Before, I repeat, before you spend anymore $$ on marketing for new patients, take a long hard look at just how many you are potentially losing from LACK OF FOLLOW UP.
Let’s look at the math & how much this could be costing you, shall we?
Do You Know How Many New Patients You Lost Last Month?
Let’s focus in on the phone for a minute. Do you know how many potential new patients are lost each week due to lack of follow up? Average = 6-8 per week (Yikes!)
That’s over 20 a month.
How’d you like an extra 20 patients a month? Do you have the capacity to handle that type of increase?
So let’s pretend that your team is fantastic, they know how to follow up and convert prospects to scheduled patients and your average is ONLY 7/month.
What’s that costing you?
Here’s the math:
Typical lifetime value of a patient is $4,000 (depending on your specialty and area of practice could be more or less)
7 new patients lost per month x 12 months = 84 per year
$4000 x 84 = $336,000
That’s a lot of extra money floating around. Heck, even if you get half of that, we’re talking a $100,000 bump just from simply following up and knowing how to convert.
Studies show that on average, five to nine follow-up touches are required to make the sale, but most practices stop after one (the initial call or email).
The results should SCARE you…hopefully into action.
Here’s the deal
The fortune is made in the follow-up BUT no one wants to put in the hard work initially to build out a system that can be automated.
I leave you with this….
Honestly answer these questions:
- How many leads are currently in your pipeline that need to be followed up with?
- Do you have a well documented multi-step follow up plan in place that can be tracked?
- What is the average lifetime value of your patient?
Mardi Gras Offer
We’re in Mardi Gras season down here in Louisiana and with that, I’d like to throw out a special offer to you.
The first 7 docs that want help with creating a follow up system (Free of Charge) email: jeff@TheAuthorityPractice.com
First come, first serve basis.