If you are subscribed to either our Essentials, Essentials Plus or Growth membership packages , you are receiving a Lapsing Patient Report as well as a Lapsing Client report every month. These reports look very similar visually. You may be wondering what the difference is between the two, and how your practice can benefit from each report.
Here is the quick description of each:
- The Lapsing Patient Report shows a list of patients that have not had a transaction in the past 14 to 18 months. It is sorted by the first column, which is the number of months since their last transaction.
- The Lapsing Client Report shows a list of clients whose pets all fall into a lapsing (or perhaps lapsed) status. It is also sorted by the first column, which represents the most recent month that a patient in their household had a transaction at your practice. That patient is listed by name on column N. Notice column M. This is where the gold mine is, and I’ll talk more about that shortly.
It is helpful to determine what your lapsing patients are worth to your practice. You can figure this out this with a quick and simple calculation. Add up the number of lapsing patients that you have at any given time, and multiply that by your average revenue per unique patient (from your Practice Overview Report). You will likely find that your lapsing patients are worth tens, if not hundreds of thousands of dollars. What are you doing to recapture that revenue?
Back to the Lapsing Client Report. I mentioned the gold mine of column M. If you sort your spreadsheet by this column, by largest to smallest, you will likely see clients that have three or more patients that are lapsing or lapsed. These clients should be called right away! Have they moved? Did they switch veterinarians? Is it possible to get three patients booked for appointments with one phone call? Do not let these clients slip through the cracks.
It is extremely important to do some investigation into why they are lapsing in the first place. You may discover that some clients have left the area. This is a perfect opportunity to inactivate them from your system, which helps to keep your data clean. If they have switched veterinarians, try to find out why. If they had a bad experience at their previous visit, you may still be able to salvage the relationship, and get them to come back. Perhaps they never received a reminder from you that their pets were overdue. You should ensure that a reminder has been entered for the pet, and that you have current contact information, including their email address. Our Case Study Resource gives a recommendation for the timing and frequency that reminders should be sent, to ensure maximum response.
Below are two additional blog articles that may be helpful for you, as you are working with your Lapsing Client and Lapsing Patient Reports. You can continue to monitor the results of your client follow-ups with your monthly Practice Overview Report.
In a future blog article, I’ll talk about some things you can do if you have exhausted all traditional methods to recapture lapsing patients.