Rhino University EP #13: Tracking
Hi Rhinos Dr. FJ back for Rhino University Episode #13.
Let’s talk about one of the most important things you got to do when you own your own business. Tracking your Stats!
Tracking your averages, you need to know these things. It helps you get completely out of delusion. We had a client that said their communication is great, but then I asked, then why is your commitment rate only 20%? If it’s at 20% than you need to work on your communication. Tracking your stats takes you out of the delusion because stats don’t lie.
You want to know your stats.
What is your case average (lifetime value of the patient)? Now you know what you can spend on marketing.
If your case average is $1000 per patient, then you spend $1000 on marketing and get 10 new patients, you’re now spending $1000 to get $10,000. Lifetime value is good to know, but you won’t know unless you, TRACK IT.
If your office offers different therapies, like adjusting and decompression, you have to track each category like a different business so you really know which of your offerings is doing well and which is not.
As you delegate, tracking is also how you do Quality Control, to make sure everybody is doing a great job. You start seeing trends falling or rising, showing you where you need to put your attention in training.
By tracking you can also see if you’re spending money on marketing that’s bringing in low quality patients that aren’t really interested in what you do.
You have to know your numbers. This is the only real way to know the truth in how and where your office is thriving, needs help or needs to be released.
You might have a huge week and be so excited about your growth and the next week is just okay, well then your average is still the same and you haven’t really grown. When your Average grows, NOW you’ve taken the next step.
It’s really, really important to know and watch your averages.
We’ve had some clients that were wanting to hire on their first associate and what we had to do was go over their stats from their last 12 months and look at their worst month, THEN make decisions based on that month.
You don’t know how to get better if you don’t know where you’re at. Make sure you know exactly where your office is at. This is how you’re going to grow a super successful practice. Measure it and your performance gets better and you keep doing that.
Dr. FJ Schofield