Multiply the Health by the Impact to calculate your possible impact score. The higher the score, the higher priority that area should be in your clinic this year! YOUR SCORECARD
MARKETING BUDGET VS. REVENUE LOSS METRIC 4
METRIC RESULT
METRIC HEALTH
METRIC IMPACT
According to the Small Business Association of America, the majority of healthcare clinics should expect to spend between 5-8% of their annual budget on marketing. That math is pretty easy. If a Rehab Clinic is making $750,000 per year, their marketing budget should be between $40-60K per year or $3300-5000 per month.
15
2.1 %
1 2 3 4 5
1 2 3 4 5
Healthy
Unhealthy
Low
High
FINAL RESULT
1 Go ahead and calculate your current budget vs. the recommended:
1 2 3 4 5
1 2 3 4 5
÷
=
Healthy
Unhealthy
Low
High
Current Annual Budget
Current Annual Revenue
Current % of budget ( 0.05 = 5%)
(from page 35 )
FINAL RESULT
X
=
Current Annual Revenue
Recommended budget
Choose A Number Between 0.05 and 0.08 depending on how much you want to grow
1 2 3 4 5
1 2 3 4 5
Healthy
Unhealthy
Low
High
Now multiply BOX C by your average reimbursement per visit:
Now, if you’ve been underspending that number may look scary. But let me put it into context for you.
(from page 36)
2
3
FINAL RESULT
Reimbursment Per Visit
Yours
Example
Enter your current patient visits per month: Now what SHOULD they be? (Your Goal) : Subtract BOX A from BOX B:
1 2 3 4 5
1 2 3 4 5
a
100
X
Difference (Box C)
Healthy
Unhealthy
Low
High
b
175
(from page 37 )
FINAL RESULT
This is how much you’re losing EVERY MONTH by not having enough patient visits!
c
75
1 2 3 4 5
1 2 3 4 5
NOW ASK YOURSELF:
Healthy
Unhealthy
Low
High
(from page 38 )
FINAL RESULT
Am I spending the RIGHT amount on my marketing budget? You never want to waste money, but you do have to invest in order to grow. Marketing is always an investment, so don’t sell yourself short! As long as you put it in the right place, the return on your investment will come back to help you.
At Practice Promotions, we do more than help you do marketing tasks— we partner with you to prioritize growth and stability so you can reach your goals.
HOW DID YOU SCORE?
38
4 METRICS TO GAIN CONTROL OF YOUR NEW PATIENT VOLUME 39
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