How Well Is My Business Really Doing?

What’s the difference between 2 identical practices where one has a patient retention rate of 67% and the other a few points higher at 80%? 

Answer: Almost £100,000 more revenue over 5 years.

In order to truly understand how well your business is doing you need to understand and answer some simple questions. 

- How many active patients do I really have, and how often do they come back?
- On average how much does each patient spend on a treatment and what other treatments might they be interested in?

- How many patients have I lost in the past 2 years and why?

Being able to answer these questions exactly is the first step in effectively managing your practice.

Knowing this basic information allows you to understand the shape of your business and put effective plans in place to grow. 

All this information is probably available somewhere, but collating it into simple 1 page report can be difficult.  The information is only useful if it is easy to produce and readily available every Monday morning.

This presentation will look at simple ways of producing basic management information as well as exploring what typical benchmarks should look like.

Dan is a Senior Business Consultant with Allergan’s European Business Consulting Team. He specialises in the areas of strategy, financial analysis, practice efficiency, marketing and training, together with other general practice management issues.

He has more than 20 years experience in sales, marketing, training and general management gained through working in the pharmaceutical industry in the UK and across Europe. Prior to joining Allergan, he served in a variety of management roles in a leading pharmaceutical & healthcare company, including country Business Manager Ireland, European Sales Manager and National Training & Development Manager, as well as front line sales and marketing experience.

He earned his BSc(Hons) in Biochemistry from the University of Lancaster and has completed numerous management and industry courses, gaining his MBA in 2004.

The Allergan Business Centre is part of the Allergan Medical Institute and is dedicated to providing practical business insights to medical aesthetic clinics by delivering progressive training and education to clinicians, practice staff and management teams. They deliver business advice through: Online Video Training, Business Roadshows held all over the UK & Ireland and individual one-to-one meetings with one of their Business Consultants.