Reopening Results
In our last update, we reported seeing an increase in new patient accounts as States slowly started encouraging businesses to reopen. Since then, business has been soaring, and it is encouraging to see how quickly the situation has changed for many of our practices.
We reached our daily low of new patient accounts the week that ended on April 24th. That low was 57 per day. During the first week of May, our new patient activations began to climb, and our average daily activations jumped into the 200 range. The second week surged to over 500 and to over 700 in the third week. For the period following Memorial Day through yesterday, we averaged 921 new patient accounts each day. Last year, during the same period, we averaged 944. Obviously, business has returned, and if you are an office that has reopened, we certainly hope you are seeing similar results.
Those numbers become even more impressive when you consider that they are generated by only 70% of the practices that contributed new patient accounts in the 45-day period prior to the shutdown. With about 30% of practices still closed, the volume likely indicates some pent-up demand resulting from the shutdown, but more importantly, it seems to represent that most of your patients do not fear the personal contact required to seek treatment.
No doubt your office has implemented best practices to protect both your staff and your patients. With these measures in place, and with consumers apparently not fearing the contact needed to seek treatment, business volumes should remain solid even though we are finding our “new normal” way of working.
OrthoBanc Impact
OrthoBanc has been blessed beyond comprehension during the shutdown. Our staff all remained employed and continued to serve your needs and those of your patients. Practices used our patient lifecycle tools to their fullest extent to continue winning business remotely. Many new practices have joined our family, desiring to benefit from our tools and especially from our management of patient accounts that sustained so many practices during this period.
It has been a pleasure to serve your needs in these very unusual times. January seems like light-years ago, yet this year is flying by. I’d love to hear about your experience and how your business is doing. Send me an email using the contact information below. Until then, the OrthoBanc team wishes you continued success.
Bill Holt
OrthoBanc’s President/CEO
bholt@orthobanc.com
