There is a reason why we at Practice Lab frequently talk about reporting and key measures in private practice. It’s because these metrics actually affect your bottom line!
Keeping a habit of recording important metrics such as your average client attendance rate can help you to figure out the gaps in your practice and explore various solutions. For example, identifying that your practice experiences consistently low client attendance rate may prompt you to change your appointment-setting processes, cancellation policy and re-evaluate the way you build rapport with your clients.
Knowing the attendance rate for each practitioner in your practice can also identify whether low attendance is a practice-wide issue (in which case you could look into changing your processes) or a practitioner-specific issue (in which case you could explore ways to train the particular practitioner).
Another important reason for knowing these metrics is that you can reverse-calculate the performance of your business at maximum capacity. If your practice made $20,000 in a month at 75% client attendance rate, what could you have made had every single one of your clients turned up?
The calculator below does exactly that. Plug in your numbers and see what your revenue at 100% attendance could have been.
Of course, 100% client attendance is almost certainly impossible to achieve. This calculation is not designed to make you dwell on “what could have been”. Rather, it is designed to help you understand the impact that client attendance can have on your bottom line, and why it is critical to keep track of this.