by: Dr. Michael Rothwell
- The first step in reviewing and maximizing return on investment is to define what the ROI means for your program. This establishes what you are hoping to achieve and the necessary benchmarks along the way.
- Cross-selling is important to increasing your client base services and therefore the revenue you receive. Providing your clients with a listing of the services and defining those services is a necessary step in the process.
- Upselling, the upgrading of current client services is an excellent opportunity to ensure you’re maximizing your interactions with clients, thereby maximizing your revenue stream.
- The reports most programs use to demonstrate their ROI focus on revenues received, accounts receivable to determine what is left on the table, number of services provided to determine your service mix, and your expenses and margins. The visit-to-revenue ratio is an important stat to follow.
- Your business plan and budget are the benchmarks to determine your success. Monitoring monthly is recommended.
