We continue to take a look at one of the most successful business programs ever developed for the healing community: The First 18 from Clinician Business Labs.
Dr Meghan Walker is the founder of Clinician Business Labs and the creative spirit behind the First 18 program. She is our guest today.
Lifetime Value Of The Patient Relationship
Clinicians drive better health outcomes when they engage with their patients over the long term.
When we look at the data related to revenue from patients, clinicians get a return on investment from about visit four onwards. And when we survey naturopathic doctors on average, most are getting just four to five visits with patients.
This goes to show, that when clinicians fail to deliver transformational care, their margins and profitability are actually really small.
On average, when we take a practitioner who's engaging in transactional care, the average lifetime value of a patient is $650. When we move their model to the delivery of transformational care that lifetime value to well over $3,000.
Because the patient understands why they're coming back. They understand what milestones and benchmarks they're aiming to get to. They have something to work towards. So it is an entirely different way of engaging your patients.
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