Why patient Lifetime Value Is A Dangerously Flawed Idea 德国夜店发生枪击 莫迪或将改组内阁

Go to any seminar, pick up any book, listen to any course on marketing, and you’ll pretty quickly run up against the term "Patient Lifetime Value", or "Lifetime Value of a Client" or some other derivation of the theme. It’s an idea that’s seductively simple & makes great intuitive sense – "Of course, if I knew the average value of any new patient, it would be useful in my practice!" Without a few key refinements, though, this is a concept that can cost you a LOT of time, effort, energy, and money. In fact, until being taught these refinements, most doctors find themselves thinking "There must be something to this idea – everybody and their brother talks about it – so why isn’t it doing MY practice any good?" Explaining patient lifetime value Theoretically, it’s a great shorthand to understand the monetary value of each patient, which gives you an idea of how much you can invest in new patient acquisition. Its almost always explained with some derivation of the following: "I know you have some patients who have only one visit, and others who’ve had hundreds. But what if we took the average of all those visits? What is the average visit number for each of your patients? Well, if we take that number, and multiply it by your fee per visit, that gives us a dollar value that we can think of as the Patient Lifetime value. Over time, every new patient who walks through the door will, on average, generate that much in fees. So, logically, you can spend nearly that much to attract new patients and still be profitable!" Why the idea is dangerous to your practice It’s a simple concept to wrap your head around, and it makes a lot of sense on an intellectual level. But what these books, courses, and seminars almost never tell you is that just having ONE lifetime value number is a fast way to waste a LOT of money If you just look at the "patient lifetime value", which is an average across your entire patient base, you can’t determine what is COMMON to those patients who leave within a month, or what’s common to those patients who stay with you for years Just looking at this single "Patient Lifetime Value" number clouds a LOT of very useful information – For example, let’s say you get new patients primarily through yellow pages & referrals. It might be the case that only 10% of referrals quit within 45 days, while 60% of yellow pages patients quit during the same time frame When do you use patient lifetime value? That’s not to say that the concept of looking at average visits or dollar values is invalid – far from it, it’s one of the MOST useful things you can do in your practice WHEN you do it the right way. The most useful way to put this type of number to work is to look at it in a few different subsets of your patients, rather than as one catch-all number. For example, you might want to look at the average across all patients. Then look at the average value of patients who have more than 5 visits. Then more than 10 visits. You might want to look at the average value of patients who are under 20 years old when they join your practice, vs. over 50. Or, you might want to look at the average value of patients who come in through referral, vs. newspaper advertisement. Where does this get you? With many specific "patient lifetime value" numbers to work with, you’re in a much better position to understand exactly what is happening with your practice. There are 2 main takeaways from having these numbers at hand The 2 benefits of segmented Patient Lifetime Value numbers 1. It gives you a MUCH better idea of the kind of patient that you want to attract For example, if you find that patients who are over 45 years old and who came in through a referral have a patient lifetime value that is 500% greater than those under 30 who come in through the yellow pages… Then you most certainly want to work MUCH harder to attract the former. 2. It gives you a clear direction of where to put your marketing effort & dollars If you find that your "average" visit from a patient is 35, but that if they stay for more than 5 visits, the average visit number rises to 55 – Then clearly there is a LOT of benefit to be derived from encouraging patients to come back for at least their first 5 visits. This could lead you to reorganize how you handle your first visit, how you keep in touch with patients during their first 5 visits, and to generally re-consider how to make it easier for them to decide to come in during this critical early stage Taking the flaws out of Patient Lifetime Value So, next time you’re in a seminar, or reading a book, or listening to a course that inevitably brings up the concept of "patient lifetime value’, don’t just take it at face value – instead, take the time they’re using to explain this simple idea, and think about additional ways that you can group your patients to get a MUCH more useful average value understanding. And when people ask how you’re doing SO well, you can breezily tell them "Oh, you know – I’m just paying attention to Patient Lifetime Value" – and let them wonder why THEY’RE not getting it. Want to learn more? Understanding Patients Lifetime Value is one of the many strategies covered in Real World Growth Strategies for Your Practice an exciting new marketing program for Chiropractors. To find out more, call Scott at: 905-963-3771, or e-mail [email protected] Did you find this useful? Why not send it on to friends and colleagues and share the knowledge with others. Alternatively you can reprint these tips in your own website or newsletter, but please include the following information: ———————————————————————— Shawn Veltman is a marketing consultant and the creator Of the highly acclaimed Real World Growth Strategies program for Chiropractors. To find out more, e-mail ——— 相关的主题文章: