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
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.