Patient retention is a more significant problem than patient acquisition for many medical practitioners. According to Solution Reach, patient attrition rates hover between 10% and 30%, on average. However, research shows that making patient retention an integral part of practice management can reduce attrition rates by as much as 70%. If patient retention is not among your practice’s top priorities, it should be. Read why patient retention is so important and learn some strategies that you can use to improve it.
Focusing on Patient Satisfaction
According to the data, 70% of patients leave a practice because of the practice’s indifference. That means that only 30% of patients leave because of uncontrollable factors like job loss, income reduction, relocation, and other major life events. This information shows that one of the best ways to raise retention rates is to create a better patient experience.
Keeping patients happy by making them feel valued can improve retention. Some ways to do this are treating patients as partners in their healthcare journey and using compassionate bedside manners when interacting with them. Keeping patients informed and following up with them after an appointment can also result in better patient experiences and retention rates.
Lowering Wait Times
Patient satisfaction is also affected by the wait time. Medical practitioners with wait times around 60 minutes received an average satisfaction score of 53 from patients. However, those whose wait times no longer than 10 minutes had average satisfaction scores of 77. For every 10 minutes of additional wait time, scores dropped between six and 10 points. Try to keep the office running as smoothly and efficiently as possible to reduce wait times and improve patient satisfaction.
Making Healthcare Convenient
Younger generations value convenience across all aspects of their lives, including healthcare. Convenience is among their top five priorities. Here are some elements of convenient healthcare:
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Ability to get test results without seeing a doctor
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Ability to view health information in one place
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Convenient location and hours
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Convenient scheduling
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Easy check-in
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Online bill pay
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Online registration
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Wait time visibility
Offices that are not doing any of the above may want to update their processes.
Asking for Feedback
A practice can not know how its patients feel unless they ask. Incorporate ways to solicit feedback from patients, both in-office and online. This feedback is valuable for learning and bettering the patient experience.
Making Patient Retention a Priority
Making patient retention a priority is an important investment for your business. Work with Doctor Genius to identify the best marketing and retention strategies for your practice. Call us today at 1-877-477-2311 to learn more about how our team can help.
Doctor Genius, located at 16800 Aston Street, Suite 270, Irvine, CA 92606, provides a range of services for practice success. We seek to meet our clients’ needs by providing a variety of marketing, SEO, practice optimization tools, and coaching to transform the healthcare experience. Though we work to provide the most accurate information, the content found on this website is solely intended for entertainment purposes. Therefore, we cannot guarantee that the information provided is entirely correct. You may not use the information on this site to cure, prevent, or diagnose a perceived medical issue. If you have healthcare-related needs, please speak directly to a healthcare professional. Never self-perform medical treatments discussed on this website. All images displayed are also for entertainment purposes only, and personal experiences may differ. Please note that the business tactics mentioned on this site might not be applicable to your industry or practice.
