Case Studies
My Vitals Pro Insight
The owner didn’t like the pace at which TPA was growing in his practice, and they were seeing a strong rebound coming out of COVID lockdowns, so they essentially dropped TPAs overnight at the beginning of 2022. They had the confidence to make that decision because they were able to use My Vitals Pro to see not only what percentage of their units were TPA, but also what percentage of their revenue was TPA (hint: TPA revenue is always about 1/3 of the TPA units as a percentage, so it’s ~3x the work for the same revenue as private pay business) and formulate a strategy for replacing that revenue with private pay business.
Results
The practice’s private pay units have increased steadily since dropping TPAs, and any fears around losing patients because of not participating have been unfounded, as total unit sales have increased due to converting sales that otherwise would have gone TPA to private pay. With My Vitals Pro, this owner was able to confidently make a strategic shift and then continue using MVP thereafter to evaluate the success of that strategy.
Case Study #1
TPA Strategy
Situation
This large practice with multiple locations had historically not taken any third parties, but during COVID, they started dabbling with TPAs as a strategy to offset other slowness in the business.
My Vitals Pro Insight
The owner noticed that this provider averaged around 16 hours of patient care per week. Towards the end of Q2 2022, the owner moved this provider to another office 2 days per week.
Results
As this provider’s patient hours doubled to 32 per week, her units have skyrocketed as well, from around 40 per quarter to almost 100 per quarter since the change. The practice is much more profitable and the provider is making more money than ever and much more satisfied with her role.
Case Study #2
Provider Utilization
Situation
A large, multi-location practice had one very talented provider who was spending all of her time in a relatively slow office in comparison to some of the other offices within the practice.
My Vitals Pro Insight
As the new owners began to dig deeper into the acquired clinic’s performance, using My Vitals Pro they noticed that while the acquired clinic generated ~4% more revenue than the original clinic, they had 20% more completed appointments. They had completed 1000 more appointments to make up a very small difference in revenue.
The new clinic was also almost always booked 100% looking 7 days out in the Schedule Utilization tool, while the existing clinic was closer to 75%. Digging further in, it became obvious that it was short clean & check appointments that were driving the big difference in completed appointment numbers.
The existing office patient recall strategy was to send clean & check postcards every 6 months to eligible patients, while the newly acquired clinic had historically always pre-booked clean & check appointments 6 months ahead of time for all patients upon leaving the office.
Results
As a result of this analysis using My Vitals Pro, the practice moved to an on-demand model for the new clinic – similar to the existing clinic, with postcards sent out every 6 months. Now the two clinics are much more in line with one another in terms of total number of appointments. This has cleared up the schedule for sooner new patient appointments and is also reducing provider burnout, both of which will also contribute to improved revenue numbers over time.
Case Study #3
Schedule Efficiency
Situation
This practice historically had 1 large clinic and at the beginning of 2022 acquired another large clinic of a very similar size, which makes for a very good apples-to-apples comparison between the two.
