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The cost to your business of a practitioner leaving may be more than you think. Have a play with the numbers to get a customized estimate of the cost to your business.
A new practitioner sees fewer patients until they get their schedule full. They have more new patients that carry higher acquisition costs. Until you hire a new practitioner you have vacant appointment slots. Plus, a certain number of your patients will leave, following the practitioner to their new office.
60
40
26
$80
Fewer appointments per week (60 − 40) × Weeks until full (26) × Average price per appointment ($80)
$41,600
8
4
$50
Difference in new patients per week (8 − 4) × Weeks until full (26) × Cost of acquisition ($50)
$5,200
Experienced practitioner appointments per week (60) × Weeks to replace practitioner (4) × Average price per appointment ($80)
$19,200
30
$500
Patients that leave (30) × remaining lifetime value ($500)
$15,000
$81,000
Recruitment costs mostly include the time spent in the hiring and training process. There are often advertising and “welcome pack” costs as well.
15
$200
Hours spent to hire (15) × Hirer hourly rate ($200)
$3,000
Hours of training (30) × Trainer hourly rate ($200)
$6,000
Advertising costs ($500) + Welcome pack ($200)
$700
$9,700