Just how important are your Top Spending Patients to your overall revenue? You understand that they generate the most revenue per patient, but how reliant are you on those individuals? Would your business hit serious financial difficulties if they were no longer your patients?
How it’s Calculated:
The total amount of revenue generated by your clinic split into five equal revenue groups. The first group will be made up of your highest revenue generating patients and will therefore have the smallest number of patients. The fifth group will be made up of the lowest revenue generating patients and will therefore have the largest number of patients.
Useful for:
- Understanding just your quintiles assists with marketing campaigns – really look after your Top Quintile, nurture patients to move them from the Second Tier up to the Top-Tier, and minimise resource allocation on the lowest quintile.
Further Insight:
- Top Tier Patients – Make sure you treat these patients especially well – your business is most likely very dependant upon them and you’ll want to make sure they keep coming back. How are you going to treat them differently to everyone else because they are different?!
- Other Tiers – Devise clear marketing strategies for each of the segments to move up to higher tiers, where differentiated services are provided or perhaps begin increasing resources allocated to them.
Questions to ask yourself: