PVA & $VAMay 12, 2020
Hi, this is Dave Kats for Therapist Consultants and I have a tip for you.
You know, there are three statistics that you should be keeping in your practice. The first one is easy. The number of new patients you get per month. The average therapist gets seven new patients per month. You can simply count in your appointment book, "How many am I getting?" If you get more than seven, you're above average, you get less than seven, you're below average, but you should get to at least seven because with seven, you can build a full practice with seven new patients a month.
Now the other two statistics that are important are your patient visit average and your dollar visit average. Your patient visit average is the number of times the average patient comes to see you. If you take the number of visits you had this month, let's say, 120 and you divide it by the number of new patients, let's say 10, that means that your PVA was 12. The average person comes in to see you 12 times. Now that's not in a month or during their session that's over their lifetime. They come in 12 times. For your PVA you take the number of visits you had total for that month and divide it by the new patients. 120 divided by 10 is 12. I will tell you in the national average is 12 to 15 visits per patient with a therapist. You should check yours and see how you're doing.
The last statistic I want to talk to you about is the dollar visit average, and that's how much the person pays you on the average when they come in to see you. To do that, you take your collections for the month, let's say $10,000, and you take your patient visits, let's say 100, and you divide that and you come up with 100. The average patient is paying you $100 a visit. These statistics are very important because they tell you if you're starting to schedule less, they tell you if you're starting to charge less, they're telling you if the insurance company is cutting you down a little bit, they're telling you if you have to increase prices.
Those three statistics new patients, patient visit average, which is the total patient visits divided by the new patients, and dollar visit average the total collections by the patient visits is going to give you a lot of information on the finances of your practice.
This is Dave Kats. Thanks for listening
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