Medical marketing expert Naren Arulrajah recently published an article addressing “patient churn,” which refers to the rate at which medical practices lose existing patients and gain new patients [1].
The author reports that the medical industry overall loses more patients than they gain (48% loss vs 45% gain) [1]. The article provides an algorithm for practices to calculate their churn rate to see if a problem exists.
If your loss rate exceeds your gain rate, Arulrajah advises you not to take it personally – often, the churn rate does not reflect staff behavior or whether the patient likes you [1]. Factors such as office hours or ease of parking can influence whether a patient stays with the practice [1].
To reduce churn rates, Arulrajah recommends that:
Practices should market and “vet” patients who match the practice’s services and office environment.
When speaking with existing patients, mention the value of their positive reviews online.
Ask patients how their recent visits have gone – solicit their feedback!
Invest in technologies that allow you to spend more face-to-face time with your patients; patients “want your time” and “want to feel human [1].”
Have your practice’s providers and/or management team ever discussed churn rates?