Welcome therapists and group practice owners! I’m Nicole McCance, a psychologist turned business coach for therapists. I built my group practice to 55 therapists and multiple 7-figures, and then I sold it.
Can you tell me your growth rate this quarter, or what percentage of your inquiries booked a consult call? Most owners can’t, because until now there was no way to track therapy practice growth without a human keeping spreadsheets (I know, I paid one). Now, I’m walking you through the practice growth dashboard inside ClinicMonk™, my CRM for therapy practices, where every number that matters lives on one screen and tells you exactly what to fix. (I’ve made it pretty for you, too!)
P.S. Not a huge fan of reading blogs? (I’m more of a podcast girl myself) You can listen to my podcast episode all about this topic by clicking here or watching the video below!
What Your Practice Growth Dashboard Shows You
The dashboard tracks every lead that came in over any period you choose, whether that’s the last day, week, 30 days, or a whole quarter, and shows you your growth rate compared to the period before.
The number I get most excited about is the growth rate, this is the percentage your practice has grown over a specific amount of time. When that number jumps, you finally know it’s time to hire (and maybe that new office is coming sooner than you thought).
Please don’t make big business decisions based on a 30 day period, though.
I always want you looking at your metrics over 90 days, a whole quarter, and the dashboard lets you do that with one single toggle. You can’t grow what you can’t track, and now you CAN track it.
Hot Tip: Your EHR is where clients live once they book. If you don’t have one yet, use this link to try Jane App free for 2 months. It’s still my favourite.
Why Did My Leads Suddenly Drop? 3 Things That Are Usually Broken
Once your leads are tracked over time, you’ll see your upswings after investing in Google Ads, SEO, or a new website. You’ll also know immediately when leads drop, and when that happens, one of three things is probably broken (jot these down!).
When leads drop, check these three things:
- Your Google Ads. If leads fall off, something changed on your ads company’s end, like the keywords. Contact them right away and show them your numbers, because you’re paying them your hard earned money.
- Your website. Internet gremlins come out at night and break things. I’ve worked with over 1,000 therapists, and I’ve seen mobile go wonky, booking buttons stop working, and contact forms that suddenly send nowhere. When highly interested people stop reaching out, look for friction on your site.
- Your consult calendar availability. I want your intake coordinator working at least 20 hours a week and offering 40 consult calls, because they’re 20 minutes each. If those slots fill up, fewer people can book, and your leads drop with it.
Where Are Your Leads Actually Coming From?
The dashboard also tracks your inquiry method, because it changes your decisions.
Most people book online, and research tells us they do it after 7pm when your clinic is closed, so please let them book themselves (give them that dopamine hit!). If everyone in your town uses the contact form instead, that’s where your social media and emails should send people, and if you’re seeing a lot of missed calls, you’ve found your next hire (an admin!).
The 3 Conversion Rates Every Therapy Practice Should Track
These are the therapy practice metrics most owners have never seen in one spot before, and each one points to a specific fix.
1. Booking Rate
This is the most ignored stat in your practice. Your booking rate is the percentage of all your inquiries that booked a free consult call, and my goal for you is 70%. These are motivated people who reached out and then bounced.
A low booking rate usually comes down to three reasons:
- Slow response rate. ClinicMonk™ sends an immediate text and email to every lead, but humans are hard sometimes, and maybe your admin isn’t working the system. Hire your admin as an employee with clear KPIs for response time, and ClinicMonk™ tracks how often they hit them.
- Unqualified leads. If a marketing agency is feeding you people looking for free therapy, insurance, or third party billing when you’re private pay, go back to your marketing and tweak it. You’re bringing in the wrong people.
- Availability. There’s a direct correlation between availability and sales. In every industry, the calendars with the most availability get more bookings.
2. Show Rate
A 90% show rate means only 10% no-showed or cancelled. If people are booking but not attending, the usual culprit is too much time between booking the consult and showing up for it.
You can’t control someone who books three weeks out, but you can have your intake coordinator offering consults within 48 hours, because people who reach out want to get in soon. ClinicMonk™ also sends a pre-engagement campaign telling them what to expect, which keeps them showing up.
3. Consult Call Conversion Rate
The goal is 70% of consult calls converting into booked clients. If it’s low, the most obvious answer is training.
Give your intake coordinator my consult call script, add your own secret sauce (you kill it on consult calls, I know you do), then record yourself role playing it, let them take it away for a few days, and have them role play it back to you.
Please don’t stop the role plays until you hit your consult call conversion goal. A lot of you train once and wonder why they keep falling, but learning to convert is like learning to ride a bike. It takes multiple tries with you holding the back of the seat, and it’ll be worth every minute.
The other reason conversion is low is therapist availability. Your intake coordinator has found the perfect fit, but that therapist only works two four hour shifts that don’t suit the caller, so they bounce. Availability equals sales, which is why I suggest every therapist works three five hour shifts.
Hot Tip: Follow me + send me a DM on Instagram saying “CONSULT CALL SCRIPT” and I’ll send you my free guide!
Track Your Practice Growth and the Small Tweaks Add Up
They say using a CRM bumps your revenue by 30%, and now you can see why.
Everything is on one dashboard, so you spot the broken thing immediately, you fix it, and you keep growing, while the owners without one miss it entirely. That’s also when your anxiety goes down, because you can finally see that all your hard work is working.
Want more strategies for growing your therapy practice? Follow me on Instagram and listen to the Business Savvy Therapist podcast for strategies and real talk about scaling a 7-figure group practice without burning out.
Your Business Bestie,
Nicole
