Three Easy-to-Keep Resolutions for a Clean Database in 2021

How confident are you that your database is clean? Can you make accurate assessments about your business’s health with the data it contains? If you’re not sure, don’t worry—you’re not alone – not everyone enjoys data crunching, plus, Consult YHN has your back!

The importance of a clean database is that it allows your practice to operate more efficiently. As the leader of the practice, it allows you to set key business goals and effectively benchmark your progress towards achieving them. A clean database will support increased revenue by efficiently spending and/or saving money and improve patient satisfaction.

Think of quality data as the backbone of your business—it’s the central pillar that connects and supports all the facets of your business. With accurate data and reporting, you will confidently make decisions that will move your business forward.

What’s considered “data” within your database? These would be your appointment types, referral sources, revenue sources, etc. For example, are you running a Consult Database Program, Consult Upgrade event, or want to see how well your marketing campaigns are performing? Referral sources play a critical role in capturing your marketing ROI (Return on Investment) and identifying where your revenue-generating leads and sales are coming from. Referral sources should be labeled and updated properly so we can track your results and identify units sold and revenue generated per sale. If referral sources are not updated and tracked, you’re essentially throwing marketing dollars out the window.

There multiple benefits of tracking your marketing initiatives, but it is impossible without clean, consistent data. To run a productive and profitable practice, it’s vital to identify incorrect data, understand the root, fix it, and develop a plan for maintaining a healthy, more reliable database.

As we prepare for 2021, below are three resolutions for cleaning up your database, which will ensure it stays clean even after your other New Year’s resolutions have been forgotten:

1. Data Entry

Of course, it all starts with the data that’s being entered into the system. If there’s one takeaway from this blog post, it should be this: your data is only as good as the data you enter. As the leader, it’s up to you to ensure your employees are properly trained and understand the importance of entering accurate information into your Practice Management System (PMS). Everyone on your team needs to be on the same page when it comes to activities such as labeling opportunity sources and what each referral source represents. Once you have a process in place, don’t assume everyone is following it, day in and day out. Periodically poke around your database to ensure that it’s kept nice and tidy.

2. Data Audit

Second, audit your data to reveal any inconsistencies and/or errors. You might be surprised by the number of inconsistencies and how far they go back. If you and your staff are regularly inputting incorrect or bad data, this will cause a snowball effect—and no one wants a database full of duds! Once corrected, this will establish trust within your data. Our Sales Analytics team can help you get started by performing a PMS Analysis. This will help you get the most out of your PMS software by ensuring accurate tracking reports, patient lists, and QuickBooks integration.

3. Data Upkeep

The last step is upkeep. As previously noted, ultimately, you are accountable for monitoring the accuracy of your data. It’s not a ‘set-and-forget-it’ activity—consistency is key! Luckily, you don’t have to do it all alone. Working closely with your Account Manager, our Sales Analytics team will provide the insights and tools necessary to execute these steps and contribute to your business’s collective success rather than hindering it.

Remember: the more time you spend tracking and auditing your data today, the less you’ll spend correcting errors in the future. The reward for your hard work is a sparkling database that delivers better insights, better reporting, and sound business decisions.

Click here to learn more about Consult YHN’s Business Services and Financial Analyses or talk to your Account Manager today to get started!

About the Author

Laura Kegelman joined Consult YHN in 2018 and currently serves as a Strategic Planning Analyst. Her diverse professional background includes supply chain, forecasting, and marketing. Laura holds a degree in marketing from West Chester University in Pennsylvania. When she’s not working, Laura loves exploring the city she lives in (Philadelphia) as well as traveling to new cities and countries.

Top 5 Reasons a Business Plan is Key to Your Success in 2021

Exactly one year ago, my uncle decided to set out for an adventure of a lifetime. He rode his bicycle across the country from Astoria, Oregon to Astoria in Queens, New York. He took his time to research his route, his stops, the equipment he needed, and the different types of terrain he would face. He also enrolled in classes to learn skills in wilderness survival and bike repairs. Once he started his journey, he logged and documented everything, including mileage, and set daily goals for himself.

If he didn’t hit one of his goals, then he looked for alternate ways to make up that time. His path continuously changed and challenged him—he rode on highways, gravel, paved roads, trails, and even over an international bridge in Sarnia, Ontario. With his focus, perseverance, and well laid out plan, he accomplished his goal: he rode 3,410 miles in 48 days.

His journey inspires me in so many ways. His work ethic and methods show that with proper planning and execution, anything is possible. Additionally, we need to spend less time thinking and more time doing.

Running your practice without a business plan or Annual Strategic Action Plan (ASAP) is like bicycling cross-country without a map or GPS and wearing a blindfold—it’s silly, it’s reckless, and it’s probably going to take longer for you to get to your destination.

The purpose of a business plan is to lay out both a short and long-term strategy for growth. It serves as the roadmap from where you are to where you want to be, outlining the individual steps and tools you need along the way. What’s your mission? Where do you see yourself in five, ten, twenty years? Where do you see your business in that same time? A business plan can help you answer these questions by allowing you to take a step back from the day-to-day demands of running the practice and focus on the big picture.

As a Consult YHN Account Manager, I work with Associates across the nation and hear what’s consistently working in their practices. What I’ve found is practices that create and execute a business plan are more successful than those that don’t execute one. Studies show that business planning can help you grow your business as much as 30 percent faster!

There are several key benefits of executing a business plan, including:

#1: It allows you to prioritize and set achievable goals.

Business plans don’t need to be overly complicated, but they do need to be executable and draw a clear connection between your actions and the results you plan to achieve. Goals like increasing revenue by 50 percent won’t seem as daunting when you have a plan that breaks it down into smaller, achievable steps. More specifically, a good business plan outlines SMART goals:

Use your plan to guide your sales and marketing strategies. It will ensure you keep track of what needs to happen, when, and in what order. For example, scheduling marketing strategies to promote a new product launch.

#2: It minimizes your risk.

Establishing a business plan isn’t just about setting goals—it’s about consistently tracking your progress toward those goals and making changes as your business grows and evolves. This will give you peace of mind that your business is heading in the right direction. Or, you’ll know that you need to make adjustments or try a different route altogether. There are two key financial statements you should build and regularly review as part of your business plan: Cash-Flow Analysis and Profit & Loss (P&L) Analysis. These help you to closely monitor the overall financial health of your practice and identify any potential cash flow challenges or opportunities.

There’s always a certain level of risk that comes with starting your own business. Some risks you can see coming from a mile away, but others are impossible to predict (like a global pandemic). Either way, it’s easier to handle issues when you’re actively looking for them. And the sooner you catch them, the less likely they are to snowball into a crisis.

#3: It allows you to make spending decisions with greater confidence.

As your business grows, there are some important spending decisions you’ll need to make: when to hire a new employee, whether you can afford to upgrade your equipment, whether you should open another office, etc. If you have a firm understanding of your practice’s financial health, you will have the information you need to make sound business decisions. A business plan is also invaluable in devising and executing an effective marketing strategy. It will help you determine how much you can/should spend on marketing to achieve your revenue goals.

#4: It’s essential if you’re seeking a loan or investment or want to sell your practice.

Would you ever invest in a business without understanding its business model or financials? Hopefully, not. And, neither would any investor. If one day down the road you decide to sell your practice, it will likely be worth more if you have a plan that shows the business is in good fiscal standing and has the potential to grow.

#5: It can help motivate your team and increase efficiencies.

A business plan that clearly communicates your vision and goals is one of the best ways to ensure your entire team is on the same page. Rallying your staff behind a common goal can also increase your collective efficiency and lead to higher levels of engagement. Knowing how their daily duties and actions relate to the business’s bottom line gives employees a greater sense of purpose and pride in their work. Be sure to regularly review your progress with your team, either during your Daily Huddle or monthly or quarterly staff meetings. This way, everyone knows what’s expected of them and can be held accountable for contributing to the practice’s success.

 

With a solid business plan and the right guidance and resources, any practice can become a million-dollar practice. Let us help you get there! Consult YHN will be hosting several Virtual Managing Business Activities (MBA) workshops to kick off the 2021 business planning process. These workshops help our Associates define their financial and organizational goals through the creation of their Annual Strategic Action Plan (ASAP) and Annual Marketing Plan (AMP).

About the Author

Jessica Shah joined Consult YHN in 2017 and currently serves as an Account Manager in the company’s Inside Sales Division as part of the Account Activation Team (AAT). Her diverse professional background includes sales, marketing, and planning experience, having previously worked in the healthcare industry as well as for the hospitality giant, Marriott-Starwood International. When not working, Jessica enjoys spending time with her husband of 13 years and her two energetic boys. They love to travel, entertain, and spending time with family and friends.

Own Your Success. Control Your Destiny. Your P&L is the Key to the Lock.

Whether you realize it or not, your business has a report card. Knowing how to read it and regularly reviewing it will empower you to control the performance of your business. Knowledge is power. It’s a cliché because it’s true. The more informed you are about the performance of your business, the better equipped you’ll be to make smart, strategic business decisions.

The report card in this case is your profit and loss statement (P&L), sometimes referred to as an income statement. When I start talking about P&Ls, often people’s eyes glaze over or they tell me “I’m not a numbers person.” The good news is – you don’t have to take a complex accounting course to glean helpful information from your P&L. However, as a business owner it’s important to understand the big picture of what it is: a report that shows the revenues and expenses of the business, and resulting profit or loss, over a specific time period (a month, a quarter, or a year).

Why is that important? And why can’t we just rely on your bank statement to tell us your profitability? Well, for a few reasons. The most important being that the P&L is the linchpin of the strategic planning process.

Step #1: Gather Information

Without a P&L, we either get stuck at Step One and can’t move forward, or we are forced to make some assumptions that may or may not be true, and therefore, compromise the validity of the rest of the process. With quality information from the P&L, you can gather several Key Performance Indicators (KPIs) that can then be compared to recommended benchmarks, including:

  • Average Selling Price (by payor types – private pay/insurance/third party administrators)
  • Average Margin per Unit
  • Gross Profit Percent
  • Expenses as a percent of revenue (i.e. advertising, payroll, rent, etc.)
  • Net Profit Percent

The analysis of these KPIs will give you an understanding of the financial health of your business above and beyond how much money is in your pocket at the end of the year.

Step #2: Identify Goals

Anyone who has read Stephen Covey’s bestselling book, 7 Habits of Highly Effective People, knows that you should always “begin with the end in mind.” So that means that before we can make a plan, we need to know what we are trying to accomplish. My question to you would be: How much revenue do you want your practice to generate? This is about the time that people switch from the glazed eyes to the dumbfounded look, and I often hear them say “I have no idea what’s even possible.” If you consider yourself to be one of those people, here are some guidelines that I would offer:

  1. Start with either your current revenue level or break-even point (the point at which you’ve covered all of your expenses and begin making a profit, which we can help you calculate).
  2. From that number, you should increase your revenue to the next desired level. When considering how much to add, consider either a percent growth rate or define the amount of money by which you need to grow to cover additional expenses. For example, are you looking to:
    • Pay off debt?
    • Incur capital expenditures for additional staff, locations, or renovations?
    • Purchase additional equipment?
    • Make personal investments (i.e. child’s college fund, retirement plan, buy a vacation home, etc.)?

When considering these or other factors, don’t just think short term. Whether you’re preparing the business for sale or planning to work in it for many years to come, we recommend identifying one, three, and five-year revenue goals.

As part of this process, Consult YHN’s P&L analysis tools and goal setting procedures will help you to create what we call Pro Forma P&Ls, meaning that they are projections of the future. As a result, you will have a figurative map with a big red star that says “you are here” at point A (current financial status) and pins at points B, C & D, which represent your destinations (financial goals).

Step #3 & #4: Devise Strategies & Implement the Plan

When choosing which strategies to implement, your Consult YHN Account Manager will help you quantify the financial impact of each option so that you can prioritize those that will have the most significant impact on both operational effectiveness and financial performance. Any changes to your processes, procedures, or marketing efforts should move you in the right direction toward achieving the agreed upon goals of your Pro Forma P&L.

Step #5: Track Results

While there are several additional KPIs that are important for measuring progress and evaluating behavior-based performance, the P&L should be prioritized as one of the tracking mechanisms reviewed on a routine basis.  As a parent, I pay close attention to my kids’ school report cards. I don’t want to wait until the end of the year to know how they did on any given subject. I want to know as often as possible how they are performing and whether or not there are specific subjects that need special attention to get them up to the scholastic levels where I expect them to be. In order to do so, I’ll either work with them myself or hire a tutor to make sure that they are getting the attention and support that they need and deserve. That way, by the end of the school year there are no surprises from final grades, and I know that I’ve done everything that I can to help them succeed.  Why would you treat your business any differently? By reviewing your P&L monthly, you’ll have an indicator of which areas need your attention and focus so that you can either fix it yourself or utilize your Consult YHN Account Manager to help, leaving you with no surprises and the security of knowing that you’ve done everything within your power to attain the goals you set out to accomplish. 

Another frequently asked question at this stage: “Is a monthly review really necessary? Wouldn’t quarterly be okay?”   Sure, quarterly is better than semi-annually or annually. But if you’re looking at your P&L monthly, and other tracking indicators even more often, then you have the luxury of knowing that you haven’t let too much time pass in case you’ve gone off course. If you wait too long, you may not be able to make up the lost revenue in time to achieve each target as scheduled. 

Step #6: Evaluate the Plan

Once you know how well you are tracking toward goal achievement, you can re-evaluate the plan itself: Are your goals still realistic? Is there anything that has thrown a wrench in the plan that requires you to re-evaluate? For example: Are you down a provider unexpectedly? Has your provider mix suddenly shifted due to a windfall of insurance or TPA patients? Did a pandemic strike the entire world and shut down the business for several weeks/months? In times like these, it’s critical to understand the impact on your P&L. You’ll need to re-consider your goals for the year, conduct a cash-flow analysis and catch-up analysis, and revise your business plan accordingly. Don’t worry if you don’t know where to begin with these tasks. That’s why you have a Consult YHN Account Manager.

A healthy P&L is important not only for the business owner, but for all of the stakeholders of the business. That includes the business owner/administrators, the employees, the patients, and by extension, the families of each of those individuals. By focusing on the financial health of your business and ensuring that you’re doing “All The Right Things,” you’re also doing the right thing for those who rely on your business to maintain their quality of life; whether it’s by means of a paycheck, better hearing, or improved communication with a loved one. Many people rely on your business to support them, so make sure that routine review of your P&L is part of your future plan to keep it healthy and thriving.

About the Author

Ridgely Samuel joined Consult YHN in 2005. She has held several positions within the sales and operations teams but has found her passion for developing others in her current role as a Training Manager. Ridgely has experience working as a financial analyst for a former Fortune 500 company, holds a degree in Business Administration from Wake Forest University, and is a certified Six Sigma Green Belt. When she’s not working or acting as a chauffeur for her two daughters, Ridgely can be found relaxing in a hammock with a novel, tossing tennis balls for her dog, or paddleboarding on the lake.

Nine Marketing ROI Stats That Might Surprise You

Is your marketing working?

In other words, is it generating business in a profitable way?

If your answer is “no” or “I don’t know,” then read on to find out why it’s important to have a clear understanding of your marketing return on investment (ROI) and its impact on your business.

First, let’s define marketing ROI: It’s the practice of attributing profit and revenue growth to the impact of your marketing initiatives. Simply put, if you spend money on marketing, it measures your return.

Now, let’s discuss why your marketing ROI matters. Here are the top three reasons it’s a critical element of your overall business strategy:

  1. You can identify any “red flags” or missteps in your current marketing strategy so that you can make the necessary adjustments to drive greater results. For example, if your call response rate for your marketing initiative is below the industry benchmark, you might need to reevaluate your target audience.
  2. You can make informed decisions about allocating your marketing budget and creating your marketing plan for the coming year. If you don’t know what works and what doesn’t, then you’re essentially gambling with your investment.
  3. You can analyze your ROI data and know for certain if and how much your marketing efforts are contributing to revenue growth.

Now that you understand why marketing ROI is important, we can dive into the fun part—the data!

We reviewed a year and half of data from a select group of practices and below are some insights and benchmarks we uncovered. Some stats might surprise you or, more importantly, motivate you to take a closer look at your own marketing strategy and reevaluate your plan for 2020:
  1. Direct mail still works— in 2018 and 2019, our practices sent out 525 direct mail campaigns, yielding an average of $1,320 in profit per campaign. Find out if your own direct mail campaigns are successful with our Direct Mail Calculator.
  2. Thinking about advertising in your local magazine? You might want to give that a second thought! With a high cost-per-campaign and a negative return, magazine advertising serves more as a brand awareness tool than a true opportunity driver.
  3. Patients routinely check your digital properties before picking up the phone. 421 digital campaigns resulted in 2,935 calls with a total profit of $1,058 per campaign—a whopping 502 percent return!
  4. Over half (55 percent) of our Associates’ referrals come from physicians. This is encouraging because patients that come from a trusted opportunity source are more ready to buy. So, keep working to establish relationships with physicians in your area!
  5. Five thousand direct mail pieces resulted in 15 calls and 6 appointments with an average response rate of 31 percent. Although this appears low, the industry benchmark for response rates is 0.25-0.50 percent.
  6. Wouldn’t you like to make two months’ revenue in just three days? It’s possible with the Consult Upgrade Program! A total of 32 upgrade events averaged $58,000 in total revenue.
  7. Did you know that 40 percent of co-op dollars available are currently going unused? Every co-op dollar spent results in $5.39 in revenue for our Associates. If you’re not taking advantage of your co-op dollars, let our marketing team help you use them strategically.
  8. Calling Out of Warranty (OOW) patients generated an additional $215,000 in profits for our Associates while calling Tested Not Sold (TNS) patients yielded an extra $86,000 in profits. So, pick up the phone! Or, better yet, let Your Patient Contact Center do it for you.
  9. Due to blank categories in our Associates’ practice management systems, there was nearly $1.7 million in revenue unaccounted for. Meaning, many practices don’t know where all of their revenue is coming from each month. Don’t be one of those practices — let our marketing team help you establish an organized process for labeling opportunity sources in your practice management software.

*Based on the Marketing ROI data from a select group of practices between Jan. 2018 – June 2019

Consult YHN’s Quarterly Marketing ROI Reports offer invaluable insights that ensure every marketing dollar spent today is growing your practice for the future. If you don’t already receive a report, talk to your Account Manager to find out how you can!

About the Author

Laura Kegelman joined Consult YHN in 2018 and currently serves as a Strategic Planning Analyst. Her diverse professional background includes supply chain, forecasting, and marketing. Laura holds a degree in marketing from West Chester University in Pennsylvania. When she’s not working, Laura loves exploring the city she lives in (Philadelphia) as well as traveling to new cities and countries.

How Healthy Is Your Practice? Let’s Do the Math!

Every year at your annual check-up, your doctor probably recommends routine lab work to ensure you’re in good health. Just like your doctor, you should be routinely checking your financials to monitor the health of your practice.

If your lab work comes back and reveals you have a high white blood count, low hemoglobin, or high cholesterol, you probably know that this is bad news and that you’re going to have to make some adjustments to your lifestyle.

But what should you be looking for in your financial data?

Overall, your financials will obviously tell you a lot about your practice, however, analyzing even just a handful of numbers and doing some simple math will provide plenty of insights. Key Performance Indicators (KPIs) are the specific measures we use to determine the health of a practice. We then compare your practice KPIs to the “benchmarks” or “industry averages” to identify any successes, concerns, or areas for improvement.

I know math can be scary for some people. Not everyone is a numbers nerd like me. However, math is the language of business and I’m going to help simplify it for you. Here are a few of the most important numbers you want to identify and understand what they mean:

Income/Sales – The amount made on selling products or services

Cost of Goods (COGS) – The amount it costs the practice for the items sold or services rendered

Operating Expenses – All costs associated with running the practice

Now we’re ready to calculate some KPIs:

Income COGS = Gross Revenue ($)

Income ÷ Gross Revenue = Gross Profit Margin (%)

COGS ÷ Gross Revenue = COGS Margin (%)

Gross Revenue Operating Expenses = Net Income ($)

Net Income ÷ Gross Revenue = Net Profit Margin (%)

 

NERD ALERT!
Operating Expenses can be further broken down to show the percentage spent on specific items like payroll, marketing, or rent. Talk to your Account Manager about getting a Monthly Financial Analysis for this level of detail.

Time to compare your answers to industry benchmarks! We find the most successful and profitable practices have KPIs in these healthy ranges:

Gross Profit Margin = 60-65%
COGS Margin = 35-40%
Net Profit Margin = 10%-15%

Remember to check your work: Gross Profit Margin % + COGS Margin % = 100%!

Now that the math is done and you’ve compared the numbers, it’s time to read the results. Obviously, the benchmark ranges are the sweet spot, but let’s define what it means to be outside those ranges.

Above Average is GOOD when its…
Gross Profit Margin – You are more profitable than the industry average
Net Profit Margin – After expenses are paid, your practice has a healthy bottom line
Below Average is GOOD when its…
COGS Margin – Your prices are set well; you realize a healthy profit on each sale

 

NERD ALERT!
Gross Profit Margin and COGS Margin have an inverse relationship. If you find that ether is outside the ranges described above, a Pricing Analysis from Consult YHN can identify areas where small adjustments could be beneficial.

Congratulations, you just analyzed your financials!

This is a great start in understanding what your numbers are telling you and identifying potential areas for improvement. By continuing to regularly track and analyze metrics such as Opportunity Creation, Unit Sales, Third Party Attendance, and Closure Rates, you can make the necessary adjustments to help more patients and increase revenue.

For a deeper dive into your practice’s finances, talk to your Account Manager about taking advantage of Consult Tracking. Our business analysts are industry pros when it comes to providing actionable business intelligence—from breakeven and territory analyses to compensation plans and monthly tracking reports. Consult YHN also has several tools that can help you track your finances, including Wake Up Call and the Pro Forma tool, which you can access anytime via Navigator.

Start evaluating the financial health of your practice today!

About the Author

Kimberly Costanzo joined Consult YHN in 2017 and currently serves as a Business Analyst. Her diverse professional background includes revenue accounting, internal audit, system support, and project management. She holds an MBA from Stockton University in New Jersey. When not working, Kimberly enjoys spending time with her husband Chris and her daughter, Gianna, either at the local playground or playing competitive matches of Go Fish. She also serves on her daughter’s school board and volunteers in the community to promote emergency awareness.

Best Practices for Tracking PPC Leads

PPC (pay-per-click) advertising is a great digital marketing option for those looking for fresh prospects, especially if your market is flooded with traditional marketing efforts. The problem is that online marketing efforts can be difficult to track in the office.

Some people will simply say “Google” or “I saw your website” when you ask them how they heard about you, but they may not know to tell you they saw your paid ad—or even realize that they clicked on an ad! Another issue is that there’s an added complexity if you are running other initiatives like direct mail. A patient may say they got the mail piece, but their phone call is tracked to an online initiative.

So what do you do?

There are two sides to the equation: how your digital marketing vendor should be tracking your PPC and how you track it once prospects reach your practice. Let’s start with the first—the best practices when it comes to how a vendor can track their PPC efforts:

  1. Landing Pages – PPC best practices include having a landing page related to your paid ads that feature a contact form that you can track to that specific page. What is a landing page? This is a simplistic stand-alone web page where a visitor “lands” after clicking your ad. This page is designed to have one single focus and for the audiology industry that’s typically to contact your practice. It should include enough information to be relevant to the ad but not a recreation of your entire website; less is more in this case.
  2. Form Submissions – By featuring a contact form on the landing page, visitors can quickly and easily send you their information. This form submission is emailed to the practice and can be translated as that visitor asking your practice to reach out to them. The quicker you can reach out to them, the more likely you’ll book a new appointment.
  3. Google Analytics This tracking effort is typically set up by your PPC provider but may be even more important if you’re managing this effort in-house, especially if you’re not using a PPC-specific contact form or call tracking. Google Analytics tracks an overwhelming amount of data and one of the most helpful tools is the ability to set “goals” which could be contact form submissions or smartphone click-to-calls. If you’re not using a landing page, you can track the number of visitors to the specific page you’re directing your ads to.

Ok, you’ve gotten the lead. Here’s how can you track those prospects in your office:

  1. Office Follow-up – Someone in your practice should be following up on any prospects, both from phone calls and form submissions, within 24 hours of being received during business hours. Checking your voicemail after lunch (if the office breaks for lunch) and first thing in the morning can ensure you’re following up with those who want to hear back from you. Also, often times, you can set up the forms to be sent to multiple people so that an FOP and management can get them. This way the FOP can follow up quickly and management has a “receipt” of the contact and make sure any tracking matches.
  2. Call Tracking – Call tracking can be incorporated on both your website and PPC landing page to optimize tracking. By using different tracking numbers on your website and your landing page, you’ll be able to track PPC-specific leads. Tracking all calls from your website is a generally good idea so that you can understand how many prospects are calling to make appointments and how many are current patients. Some call tracking providers feature a technology called “dynamic number placement” which is great to implement in your tracking. The idea is that the numbers on the website automatically change depending on where the site visitor has come from—meaning organic search, PPC ads, and even social media channels! In other words, you’ll be able to track incoming calls from all of your digital efforts, not just your PPC. Call tracking is also helpful when patients are calling the digital tracking number but indicate that they received a mail piece. You would attribute this call to your digital efforts because it’s the effort that spurred the person to contact the practice.
  3. Practice Management Software – Making sure your front office staff understands that you’re running PPC ads can be very helpful when it comes to tracking in your practice management software. This way, they’ll know to ask callers which initiative they’re calling from as well as which referral source to use. Also, call tracking can help ensure you’re listing the correct referral sources as it can help you differentiate between general “online” activity and PPC-specific activity.

Why is tracking your PPC important? For ROI of course! Because digital marketing is happening in real time and doesn’t feature tangible collateral for someone to save until they’re ready to act (like direct mail), it can provide a shorter buying cycle.

Still not sure how you can track your digital marketing efforts? Consult YHN can help! 

The Consult YHN Marketing team can translate reporting into actionable items and make suggestions on how to improve your current tracking efforts. We can also consult on your overall digital marketing strategy, including reviewing proposals, developing budget suggestions, and more.

Contact marketing@ConsultYHN.com to get started today!

About the Author

Rachel Atar joined Consult YHN in 2015 as Marketing Account Executive. With experience in multiple industries, Rachel has consistently helped small businesses navigate marketing for their end consumers. Prior to joining Consult YHN, she was Taylored Home Health Care’s Marketing Manager.