5 Ways To Increase Your Clinic Profits

How do you get more new patients or hire more clinicians at your clinic and yet still remain profitable? This is the question, and I'm on a journey to get you the answer. I'm going to interview the best marketers and clinic owners across the world to give you access to their winning strategies from recruitment, marketing, operations, finance and more. So you can easily take action on the secrets to grow your clinic. I'm Rick Lau. Welcome to Clinic Boss Secrets. Hey, everybody, Rick Lau here. I spoke with Nick recently. He was a business coach in Australia and he talked about there's only five ways on how you could actually increase the profits of your clinic. Check out this podcast.

Now, I want to tell you about a concept I learned in business very early on from the wonderful Brad Sugars, an action coach. Really good company. Now, they propose that business owners want three things. They want customers, they want revenue, and they want profitability. But you notice on this slide, those things are in red. What that means is their outputs or outcomes. And you can't influence them directly. But what you can influence in business, you can influence customers by influencing the number of leads you generate and the conversion rate at which you convert those clients. You can influence revenue by influencing the number of transactions that a client comes for a new clinic and the average dollar sale that that client comes from by raising your prices, upselling and cross selling, et cetera. And you can influence your profit based on your revenue by looking at your margins. And you know, if you're not knowing your numbers and your benchmarks and looking at your numbers and the stuff that I've taught a lot of you guys, you know you're going to run into lower profits. But what, here's what I realized, Rick, and everyone watching today is I have spent years and years and years optimizing these five areas. And we do this in the ultimate physio build the ultimate physio clinic program. But there's one that I always had trouble measuring. I really, until I met Rick, I could not work out how to measure this variable. What do you reckon it is, Rick?

Conversion rates and actually number of leads.

Right? Both. Yeah. Well, I agree a number of leads I was reasonable at. But so with Google Ads, Google can tell you when a patient calls you, there's click to call and there's some data. Um, but it's not great. Again, it's not accurate. But Rick's absolutely right. Like conversion rate and what's, what's. One of the most common things is that I'll ask you guys, oh, how are you guys going on the phones. Oh, we converted 100%. Like, how. How many clinics have you heard that from, Rick? Every call we get, we make an appointment. And that's a. And that's a lovely assumption, but I'll tell you what, once you actually start seeing the data, you know, it's. It's really stark and it's really. It's very real. And Rick will show you behind the scenes to our clinics call hero data today, which would be really cool. But getting back to. Getting back to my theme, I couldn't accurately track conversion rate. I know that clinics have tried it before with, you know, checkboxes and spreadsheets and tools, but there was nothing that was all encompassing and actually related to, you know, tracking the calls, listening to the calls, measuring the value of, you know, reactivating a client. And so conversion rate, I thought, guys, I need a conversion rate strategy. And that was when I contacted.

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