One of the questions we are often asked by practices is how they can determine the value of a new patient to their business, relative to the cost spent acquiring that patient.
When it comes to running a business, it’s well established that you need to spend money in order to make money. Whilst this is a given when it comes to practice facilities, equipment and staffing; measuring return on investment from your dental marketing spend can often be a hard to define, murky process.
We recently surveyed 97 new patients to dental practices, who had booked their appointment on HealthEngine during May to July 2017. Patients were contacted seven days after their visit and analysis of their invoices revealed the types of procedures undergone and the average value of that first appointment.
- Average amount spent during their first appointment was $281. This ranged as high as $693 for relining of a partial denture (744) and adding a tooth to a partial denture (768)
- HealthEngine referred patients were twice as likely to be booking due to toothache or acute need (61%), rather than for a general exam and clean (31%)
- 55% of people had a comprehensive oral exam (011) at a median cost of $62, whilst 31% instead had a limited oral exam (013) for $51
- Six in ten patients (61%) had at least one intraoral radiograph (022), for a total average cost of $80. The cost per radiograph ranged from $30 to $58
- Referrals of new patients from HealthEngine generated $5.73 in revenue for every $1 of investment
So how can HealthEngine help you improve your marketing return on investment?
In addition to providing your practice with a professional online branding presence, HealthEngine can assist you in connecting with new patients looking for a dental provider. Our online appointment marketing system is trusted by over one million Australians for finding and booking their healthcare appointments. Offering the convenience of website or app interfaces, and the ability for users to search by location or specialty, we can take the hard work out of growing your patient base in today’s digital economy.
The true upside for practices is that HealthEngine only charges a minimal referral fee, and only for brand new patients we drive to your practice. When it comes to measuring your marketing return on investment using HealthEngine referrals, the numbers show that on average, $1 of outlay can generate over $5 of revenue for your business.
With such a profitable yield, plus the benefit of joining Australia’s leading healthcare bookings platform, can you afford not to be with HealthEngine?
Results based on a) invoices of 97 randomly selected patients comprised relating to dental appointments Australia-wide between May 2017 and July 2017 b) 2017 analysis of over 29,000 new patients referred to practices by HealthEngine