Physical Therapy Software | The Ugly Truth About Your No Show Costs
Are you anxious about wasted time when patients don’t show up for their appointments at your physical therapy practice? No-shows (NS) and No Future Appointments (NFA) can certainly slow down your patient flow and rob you of the opportunity to help your patients get better. But they also affect the bottom line of your practice and diminish your profitability.
Even patients who donâ€™t miss their appointments should always have a follow-up appointment scheduled to ensure care plan compliance and consistent patient flow for your practice. You should also keep in mind that you might have to return any payments received when a patient stops treatment. Naturally, you won’t be getting any referrals from patients who don’t get better, which further increase the amount of lost income due to NS and NFA.
It is important to know exactly how much income your practice is losing due to NS and NFA. If you replace the assumptions below with your own numbers you can calculate your estimated NS/NFA loss per month, just like in the following example.
The average payment for one Patient visit is $89.00
Two no-shows per day cost you $178 per day:
2 x $89 = $178
Ten no-shows per week cost you $890:
10 x $89 = $890
=> Annual Cost
In a year your loss of income is $46,280:
Â Â Â Â Â Â Â Â Â 52 x $890 = $46,280
You can reduce this lost income by taking action on all of your practiceâ€™s NS and NFA with bestPTâ€™s scheduling and ticket system. Plus, you can view NS and NFA trends at a glance on your Radar Chart. Â When you make sure all of your patients have another appointment scheduled, relationships improve and your practice grows along with your profits.