The 2022 Phonak benchmark survey indicated approximately 20% of practices new patients came from competitive practices in their market.
Do you know how many patients you might be losing to your competition annually? What would it mean to keep as many of your patients coming back to your practice as possible? Practices facing 20% or higher attrition rates have a huge opportunity to keep existing patients, by using easy and automated retention strategies with their existing database of patients. Regularly reaching out to your patients 4-6 times a year is recommended, and there are numerous automated ways to keep them informed.
Consider this scenario: On average, a practice has 250 patients eligible for recall due to expiring warranties after 3 or 4 years. If the practice initiates outreach, such as sending warranty or technology upgrade letters, and achieves a 10% response rate, approximately 25 patients express interest in learning about recent technology and scheduling appointments. These patients already have a strong rapport with your practice and are excited to be contacted. Our seniors are bombarded online by social media and other product information daily- and they have questions. Let us make sure your practice gives them the answers.
Assuming the front office excels at converting calls to appointments, with a 70% conversion rate, they schedule appointments for 17 out of the 25 interested patients. Your providers successfully treat 70% of these appointments, fitting 12 patients binaurally. This results in 24 ears fitted, with an average selling price of $2105 per ear. Implementing this process consistently could mean an additional $50,000 for the month, and potentially adding $600,000 annually to the practice.
How do you get these results all the time? The first step is maximizing the office management system and using it to market. Inner Circle members have access to CounselEar as our vendor partner and receive a 20% discount. The CounselEar team, in conjunction with your Phonak marketing representative, can help automate the process and work with your practice to show how to utilize their marketing communications consistently and effectively with patients.
If you are satisfied with your current OMS, then do not forget Inner Circle members have access to our OnPoint service which will support automated marketing efforts and ways to communicate to your existing database and keep your patients close to you and informed.
To learn more about CounselEar, OnPoint or Front Office Training and Coaching, please visit the Inner Circle dashboard .
