The Remarkable CEO for Chiropractors 169 - Do You Know How Many Patients Are Dropping Out of Care?
In this episode, you'll learn about:
- Learn WHAT “Churn Rate” is and HOW to calculate it
- What is the REMARKABLE STANDARD for CHURN RATE?
- Define the terms and conditions for each stage in your patient’s journey
- Discover the 5 Criteria for making Patients INACTIVE
- The MRR (Monthly Recurring Revenue Model) is the most profitable business model
- If you want to grow your business, you have to know your business
Episode Highlights
05:11 - If you want to grow your practice, you have got to know your numbers, and your Churn Rate is crucial to know.
08:28 - The Churn Rate, or your turnover rate, is the number of patients that go inactive in a given time period, divided by the number of active patients that you have in that time period. 10:11 - A breakdown of the equation and the clear definition of inactive patients.
13:24 - When you have clarity in your KPIs, then your team can have ownership and accountability in its measurement.
16:29 - Uncover what makes up the definition of an active patient.
19:31 - Once you have your equation clear, you need to be monitoring your Churn Rate monthly, quarterly, and annually.
22:37 - An example of the churn rate in action and why it is much better than looking at hard numbers.
25:11- Dr. Pete sits down with Success Partner, Dr. Matthew DiDuro of SoftWave Tissue Regeneration Technologies. SoftWave TRT uses patented technology to reach an injured area at the cellular level to successfully turn on the body's natural healing process. Listen as they discuss how SoftWave works in the healthcare of your patients at a cellular level, its use in the field of both chiropractic and sports medicine, and how it can be a profitable ancillary service in your practice.
Resources Mentioned
To learn more about the REM CEO Program, please visit: www.theremarkablepractice.com/rem-ceo
For more information about SoftWave please visit: https://softwavetrt.com/
Schedule a Brainstorming call with Dr. Pete
Dr. Stephen’s Book – The Remarkable Practice: The Definitive Guide to Build a Thriving Chiropractic Business