NEIL’S MARKETING CORNER
Stop the Drop How to Increase Patient Retention According to a WebPT survey of almost 7000 rehab professionals nationwide, PT clinics across the US see only 7-25% of patients complete their plan of care? That means that less than 1 in 4 patients don’t fully complete care, amazing! 75% OF PATIENTS DROPPED BEFORE THEIR RECOMMENDED PLAN OF CARE HAD ENDED. THEY MAY NOT RETURN OR REFER FRIENDS BECAUSE THEY DIDN’T SEE THE RESULTS. The solution: Track your patient retention rate, help them overcome obstacles, and stay connected with your patients during and after discharging for a condition. Read below for more ways to do that! How to Calculate Patient Retention Rate To calculate your patient retention rate, use the average number of sessions attended divided by the average number of sessions recommended across all of your Plans of Care. Online Bill Pay and Financial Plans Help Overcome Financial Drop-Outs Copays aren’t cheap – it’s no secret. That said, if a patient does understand the value and benefit of feeling better, they’ll be willing to stretch their budget as long as it’s an easy, pleasant experience. Work on plans you can provide that stretch out payment to make your services more affordable. Give conveniences such as online bill pay, to make payments easier. Train Your Team to Retain More Patients In most practices, patients will spend the more time with your therapists, assistants, and front office staff than you personally. Every interaction is critical to both setting their expectations for recovery and keeping the goal of the NEXT appointment in mind. Here’s how to train your staff to market for patient retention.
THE BEST TAX DEDUCTION FOR YOUR PRACTICE
How to Save and Make Money Have you planned out your tax reduction strategy yet? Now is the time to start thinking about reducing your tax liability for this year and how to maximize your ability to grow next year. The best tax deduction in any business is one that is 100% tax deductible while creating new revenue the following year. That is why marketing is your best investment, it is 100% tax deductible and generates you income. End of Year Benefits Postcards and Letters are a powerful way to get your new patient numbers up to overcome the holiday season slow down. Let your patients know that their insurance benefits will soon be expiring for physical therapy, and to act now to use them or lose them. Go online now to place your order and increase your patient reactivations while reducing your tax liability! www.practicepromotions.net/physical-therapy- marketing-store
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The Bottom Line Patient retention is a huge problem facing physical therapy owners today. There are many external factors that we don’t have control over, but there are still best practices that can improve your retention rates by enough to see a huge increase in revenue. Use your website, email, texting (HIPAA compliant), and in-person experiences to make each experience as convenient, friendly, fast, and easy as possible for your patients.
Practice Promotions Physical Therapy Marketing
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