Simplicity is the key to success. Even Steve Jobs of Apple said he attributed his success to being able to say NO so he stayed focused on what really mattered.
Too many practices find themselves overwhelmed with technology, staff, and complexities that end up hindering their progress rather than helping it.
Top Cosmetic Practice Metrics to Increase Revenue and Efficiency
For example, they buy a new technology to reach a new patient demographic, but it quickly becomes a burden on their office space and budget.
They didn’t consider how costly and time consuming it is to market to that new demographic, so the technology is quickly collecting dust.
Or, they bring on a new software that is supposed to solve their lead problem. But don’t take into account the learning curve needed for their staff to use it properly.
So, the staff is confused and frustrated. And they can’t get good data in and out of it since it’s not integrated with their other software they already use.
Or, they only focus on one thing and that is new patient leads. But they don’t consider where those leads are coming from and if they’re good quality.
They also don’t consider why these leads aren’t converting so they spend more to get more leads and the loop continues.
Unintended Miscues that Can Cost Your Practice
When things get too complicated in your practice, that increases the chance of bad things happening. For example:
- Mistakes happen that shouldn’t have…
- Staff is confused and turnover is high…
- Money is spent and wasted needlessly
- Patients leave because of dissatisfaction and on and on…
If this resonates with you, it could be time to simplify. Here’s how:
A cosmetic practice’s revenues are a function of just a few key metrics that let you know if you have a healthy or sick cosmetic practice.
And, once you monitor these few key cosmetic practice metrics weekly, monthly, quarterly and annually, you will never again be blindsided by a dip in your revenues. Because you can see it coming and have time to fix it.
Cosmetic Practice Metrics Examples:
- How many leads per week?
- How many of those leads can your receptionist convert to an appointment?
- How many show up (or don’t)?
- How many consults can your coordinator convert to paid procedures?
Focusing on and improving the above numbers is where the magic happens. These are the fundamentals that make up 80% of your success so they are well worth focusing on.
The rest is just “busy stuff” taking you away from your focus on what is producing your results.
Once you have these numbers right, then you can open up to other opportunities. Only IF they can help you increase these numbers.
To keep this simple, use this simple PDF form at the end of each week to ensure you are on target to reach your monthly goal or meet with your staff now to brainstorm how to turn things around.