Dr. Vince Leone breaks down the real cost of acquiring patients through digital ads. Expect to pay $500 to $700 per new patient in mid-market cities, not the $1,000-for-10-patients deals from 2019. Doctors who don't understand these KPIs before spending big will lose money.
I tell doctors, they're like, I want 14 new patients. I'm like, okay, well, let me do the math. A new patient start, do you have $7,000 in ad spend and can you close at 50%? And he's like, what? $7,000? Yes, you have got to pay to play. You can't spend $1,000 on Facebook and expect to get 10 new patients a month. That was back in 2018, 2019. You could do that. Not anymore. 'Cause if you're spending, say, $500 to $700 per new patient start, That's actually okay. That's industry norm right now in a kind of mid-market type of city. Smaller markets like Dr. Pankin's, it's better. Bigger markets, Dallas, LA, Miami, is more expensive. It's just, it is what it is because there's more competition. So educate yourself on what the KPIs are, what the realistic KPIs are before you start dumping a bunch of money in because you actually may be profitable.
