It’s surprising how many medical clinics worldwide don’t measure simple data metrics such as patient feedback, numbers of new bookings, numbers of new patient inquiries, overall increase / decrease in clinic revenue, treatment success metrics or even total clinic expenses / overall revenue.
What data do you follow?
Even if the clinic does collect and analyze data, usually not everyone knows how to use this insight to set goals and objectives for their team and the next year.
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GCR offers a wealth of data but to start we recommend focusing on a few key performance indicators (KPIs). Set realistic and attainable goals and involve all members of your clinic team in the process.
1. GCR Score™
The industry-standard GCR Score™ is used by thousands of patients and clinics worldwide as a benchmark to determine the apparent level of quality provided by a clinic.
The lower your GCR Score™, the easier it should be to increase it. For example, if your GCR Score™ is 1.8, by identifying and acting on a few “quick wins” you might see a significant jump over a short period of time. If your current GCR Score™ is higher, say 2.9, a reasonable goal might be to reach 3.2 within six months.
And if your GCR Score™ is 4.2, attaining even minor incremental improvements will be challenging – a good problem to have! Note that you can see the GCR Score increase and decrease over time in the clinic dashboard by clicking the “Goal” button. Once set, goals will show up in reports for easy reference.
2. Patient Enquiries
The number of patient inquiries generated over the year is crucial to the ongoing growth of your clinic. When clinic reputation increases, so does usually the number of patient inquiries,
It’s also a good idea to track the patient inquiry channel so that you know over time where most of your patient inquiries are coming from (telephone, walk in to clinic, email, social media, online message etc, doctor referral, facilitator referral).
As an example, if your clinic books 97 new patients via the telephone per month on average, then your goal might be to raise that to 150 patient telephone inquiries by the end of 2017.
3. Patient Bookings
While patient inquiries are a good metric for the interest in your clinic, patient bookings are the ones that will directly influence your overall clinic revenue.
Following the example above in 2., how many of those 97 patients booked an appointment? Creating a percentage from this number will give you a “conversion ratio” – basically meaning how good your clinic is at converting patient inquiries into bookings.
A great goal to have for 2017 is to increase that number – for example from 32% to 56%.
There are a variety of methods to increase that number – the biggest of which is increasing your overall clinic reputation. (link to other article)
Free Resource: Download our ebook: Reaching new patients – the biggest mistakes
3. Global & Local Clinic Ranking
If you have set a GCR Score™ or review volume goal (covered in no.6), consider comparing your clinic reputation to other clinics to determine which ranking you think is achievable. For example, if your current GCR rank is #4 of 6 clinics in your city, your goal might be to reach #2 within the next year. Note that this is a relative measure that will depend on the reputation increase or decrease of other clinics as well as your own clinic.
Premium and Accredited clinics can use the GCR benchmark report to determine in which areas your clinic can rapidly improve.
5. Clinic Expertise, Facility or Service Rankings
If you are serious about working on your clinic weaknesses and strengths, you can compare your GCR Score™ to other clinics in individual areas for example, clinic facilities or certain success metrics. For example, if your clinic currently ranks #20 of 22 clinics for clinic service in your area, your goal might be to reach #14 within one year. Again, bear in mind that this ranking is partly dependent on the quality increase or decrease of other clinics in the GCR Index™.
6. Patient Review Volume
Since a higher volume of patient reviews can increase the GCR Score and visibility on search engines, you should also set a goal for patient review volume. Review volume is influenced by a number of variables, including number of treatment rooms, the amount of patients you treat, degree of patient satisfaction, and whether or not you ask them for reviews.
You can sign up your clinic here and get a GCR Score generated for your clinic free of charge. Or, for our plus, premium and accredited clinics, you can speak to your assigned GCR ambassador about setting and achieving your benchmark goals by contacting them here.