In the U.S., losing a single patient due to dissatisfaction can result in the loss of more than $200,000 in revenue over the lifetime of the practice.
Lose the patient’s entire family of 5 and that’s a Million-dollar loss!
In addition, per the Technical Assistant Research Programs (TARPs), if you make one patient happy, they share it with four others.
If you anger one customer, it can spread to 10 or more based on the seriousness.
Put this into perspective: if you anger one patient to the point of leaving, you will need to satisfy at least two other patients to the point that they brag about you just to stay even.
Business Tip: “You can’t expect your employees to exceed the expectations of your customers if you don’t exceed the employees’ expectations of management.” – Howard Schultz
Letty Sanchez, Principal Consultant/Lead Business Strategist, AEM Executive Consultants