In this episode, I'm joined by Jason Coppens of Coppens Business Strategies. You might want to have a pen and paper handy or just come back and re-listen. The content moves fast, but has a lot of value. We talk about the following:
- How he learned how to scale and build processes for growth.
- How helping to triple the rate of revenue growth of his wife’s practice was the beginning of the veterinary medicine niche.
- The 20/20/20/20 Rule and how it can help align your Profit and Loss Statement to ensure your profitability stays in check.
- The Key Performance Indicators (KPI’s) he likes to track and the returns the practice typically receives from these efforts.
- Dormant patients – someone not seen in 13 months reminders, phone calls, and a letter. Mix up communications. Call in the 13 months 10%-20%....18 month mark usually about 5% return on that.
- Dormant Patients coming back in….going up ratio 1:3. 90 patients going dormant per month. 30 will come back.
- Losing 60 patients each month…new patients vs. new clients. Get all the pets from each clients.
- New to the area
- New Pet
- Unhappy at current provider
- Forward booking – every client that walks in the door with an appointment walks out of the door with an appointment. That’s for all types not just annuals. The average is 10%-20% have those appointments booked. Never going to be 100%, but you need to ask 100% of the time.
- 60% is high but compare that to dentistry at 90% that’s too low for vet med.
- The industry trends and where veterinarians need to think about their business for the future.
- Implementing new ideas and why it’s so hard and we often fall short.
Coppens Website: https://www.cb-strategies.com/