How To Reduce Patient Attrition and Improve Retention with HelloHealth

Patient attrition is the loss of patients from a healthcare practice. Have you ever measured your annual patient attrition rate? If not, you’re not alone. Many healthcare practices do not know this important metric, yet poor patient retention is costly.

Poor patient retention has been identified as a major revenue loss for many healthcare organizations. 43% of these organizations report losing more than 10% of revenue due to poor patient retention, and 19% say it costs them up to 20% of revenue.

These statistics highlight the significant relationship between patient experience, retention rates, and overall profitability.

Measuring Patient Attrition Rates

Patient attrition can be calculated by subtracting the number of patients who have been inactive for 12 months (those without an appointment during that period) from the total number of new patients in a year and then dividing this difference by the total number of active patients.

By multiplying the result by 100, you convert the rate into a percentage, which is the annual patient attrition rate.

The final result is your attrition rate: the percentage of patients who left your practice during the year. While the attrition rate for every clinic differs, the average in the U.S. is approximately 17%.

This means that, on average, nearly one in five patients may leave your practice—frequently because they didn’t receive the follow-up care and attention they expected.

Common Causes of Patient Attrition

Patients leave their providers for various reasons, many of which are preventable. Common causes of patient attrition include:

• Slow check-in processes.
• Poor communication.
• Long wait times.
• Poor billing experience.
• Lack of individualized care.

These issues can reduce your practice revenue and increase the cost of marketing to bring new patients to your practice.

The Cost of Patient Attrition vs. Patient Acquisition

Acquiring a new patient is much more expensive than retaining an existing one. Studies indicate that acquiring a new patient can cost up to 5 times more than keeping an existing one.

On average, it costs a general practitioner $286 per patient to obtain a new patient. This number can  more than double for other specialties like Dermatology or Geriatrics.

Strengthening the Doctor-Patient Relationship

The doctor-patient relationship is at the center of patient retention. Excellent medical care must be accompanied by compassionate, patient-centered interactions. Long wait times and impersonal encounters can turn patients away, even if the medical care is excellent.

Physicians must balance medical training with effective communication to offer their patients a welcoming and supportive environment. Moreover, understaffed practices may exacerbate these issues, resulting in rushed visits and reduced patient satisfaction.

Improving communication practices within your team and with your patients is one of the most effective ways to reduce patient leakage.

How hellohealth Can Help Your Practice Reduce Patient Attrition

hellohealth offers an integrated healthcare experience designed to improve patient engagement, health outcomes, and overall satisfaction.

Its patient-centric approach meets the demands of today’s consumers and offers features that directly impact patient retention.

hellohealth features include tools to improve patient engagement and administrative workflows. One key tool is the digital patient intake, where patients complete the intake virtually or online, reducing wait times and the use of paper forms. This essentially speeds up the administrative workflow and enhances the patient experience.

Two-way private messaging allows direct communication between patients and providers, thereby increasing trust and patient satisfaction. Keeping the line of communication open helps patients stay with your practice.

Additionally, hellohealth’s e-Forms allow patients to complete required forms before their appointments, further reducing time in the office.

For patients who need a secure way to make payments online, hellohealth offers electronic payments. Another feature is appointment management, which helps with scheduling and reducing no-shows to keep patients engaged in care.

Lastly, broadcast messaging provides patients with important updates, new services and health tips, further increasing patient engagement.

These features can reduce patient attrition and increase retention, resulting in better patient outcomes and a healthier bottom line for your practice.

Request a demo now and learn how hellohealth can help your practice.