One of the simplest ways to increase your practice’s revenue is simply by reducing no-show appointments. The financial impact of no-shows can be huge for a chiropractic practice and amount to tens of thousands of dollars in lost revenue each year.
How much are no-shows costing your practice?
You might be surprised to learn just how much no-shows are costing your practice each year. The average chiropractic office experiences a no-show rate of about 5%. This may not seem like much, but taking a closer look at the financials reveals just how much of a financial impact no-shows can have on a practice.
The chart below demonstrates the potential loss in revenue from no-shows. The calculations are based on a no-show rate of 5% and an average chiropractic visit value of $65.
|Monthly Visits||No-Shows||Monthly Lost Revenue||Annual Lost Revenue|
How to reduce no-shows and increase profitability
One of the quickest and easiest ways to reduce no-shows is through text appointment reminders. Unlike emails and phone calls, people always read their texts. Industry data suggests that text reminders can reduce no-shows by up to 80%.
A practice averaging 500 monthly patient visits could potentially recoup $15,600 annually in lost revenue by using text reminders. That’s HUGE!
Text reminders offer a high return on investment.
At only $49/month, ChiroFusion’s text appointment reminders pay for itself in ONE saved appointment and can save your practice tens of thousands of dollars in lost revenue.
Practices that utilize text appointment reminders are also more efficient and have improved patient compliance.