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Improving Patient Retention

The Benefits of Improving Patient Retention

Topic: The Benefits of Improving Patient Retention

Many medical practices are now focusing on patient retention and acquisition for good reasons. This is because it can be more expensive to acquire a new customer than retain a current one. This is the reason why any medical practice needs to make patient retention their top priority. Ideally, it can be great for every patient to stay with your firm for many years, but most of them usually come for at least two visits and stop showing up. 

Regardless of the location and specialty of your practice, you will need to develop and grow the patient base to be successful. You see, repeat business is important if you need to have long-term success. This post explains the benefits of improving patient retention.

Loyal patients usually come back to your medical practice to purchase your products or services compared to new patients. Several studies suggest that existing customers are 50% more likely to buy new products than new ones. By now you may be wondering how you can motivate the current clients to do repeat business with your practice. Well, there are various factors that assist medical practices to have customer loyalty and bring repeat business.

Your medical practice needs to give a good first impression. When you offer services for the first time, make sure that everything is done properly including remembering your patient’s first name and welcome greeting. This can create confidence and trust between your new patient and you. It can also assist to create loyalty and even bring repeat business in the future.

It’s also important to stay in touch with new patients by using their preferred way of communication. Your new patients need to know that you are easily accessible and available to handle their health problems.

You can also start a loyalty program. Therefore, every time your patients visit the practice, you can give them incentives or loyalty points. Also, you can allow the patients to accumulate the points and then redeem them for a free consultation or service. Contact life science management consulting to see how you practice can improve patient acquisition and retention.

Loyal patients may already have a good relationship with your practice, and they tend to trust you more than new patients. Long-term patients are likely going to spend more money for every visit than new patients who are using your service for the first time.

This is due to this trust that is developed over the years as it makes them more confident to use recommendations and many other valuable services. The increased trust and confidence offers you a great opportunity to up-sell services and products. This can assist in increasing sales volume with little effort in getting new patients.

Topic Discussed: The Benefits of Improving Patient Retention

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