In the ever-evolving healthcare landscape, health practices must stay ahead of the curve and find effective ways to grow. If you’ve opted for Power Diary as your practice management software, the strategic use of in-built reporting can help you do this efficiently.
Reports are an invaluable resource that can provide you with vital insights, help you make data-driven decisions, and ultimately fuel the growth of your health practice.
Power Diary’s Reports provide collated data on key performance areas in your health practice. Knowing how to read and use the data generated by these Reports to grow your business is essential.
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Power Talks: How to Grow Your Practice with Reports
This article is based on a Power Talks webinar presented by Damien Adler, Power Diary Co-Founder and Head of Customer Success, in conversation with Justin, Customer Support Agent.
The webinar covers:
- How to take the pulse of your business using Reports to identify trends
- How to use data from New Client, Retention, Financial, and other Power Diary Reports to simplify and supercharge your practice
- Expert tips and tricks, with real-world examples
How to Take the Pulse of Your Practice Using Reports
Reports play a vital role in understanding the health of your practice.
By interrogating key metrics and data points, Power Diary’s Reports allow you to gauge the health of your business and make informed decisions. Through detailed analysis, you can uncover patterns, spot emerging trends and identify areas for improvement.
Let’s unpack how to use and interpret a few of Power Diary’s most impactful Reports.
1. New Client Report
As a busy professional, you may not notice a drop in new clients until it’s too late to address the issue.
Power Diary can help you detect changes in new client acquisitions early, which can give you a headstart in pinpointing the cause; for example, maybe there’s a new practice in town receiving referrals that previously came to you.
The new client report allows you to view:
- New clients that are entered into your account
- The practitioner a new client has been allocated to
- Who referred the new client
- Whether the new client’s first appointment has been set
- The date of the client’s first appointment
Why Use the New Client Report?
A good indication of a healthy and thriving practice is a steady influx of new clients through word of mouth and via referrals.
Referring to this Report regularly allows you to track the rate of new client acquisitions and lets you identify and address changes in referral trends early.
Pro Tip:
Use this Report to view clients in your system who’ve never had a first appointment.
If there’s an issue with clients being onboarded into the system without actually being scheduled, this can help uncover potential problems in your administrative processes.
For example, you may find that new clients are choosing not to book a first appointment during their initial interaction with your practice, which tells you something crucial about your onboarding. Alternatively, new clients could need a reminder to schedule their initial appointment.
2. Retention Report
This Report can highlight potential weak spots in your practice, but it’ll also show you where you’re thriving.
If one of your practitioners has a low client retention rate, this functionality will show that to you.
Importantly, Retention Reports allow you to address or remediate low retention rates. For instance, a practitioner with a low client retention rate might have a weakness in their intake sessions that could be improved with training and support.
Starting the conversation with data makes all the difference in keeping things professional and constructive.
This report allows you to view:
- How many appointments any client has had in an episode of care
- The period of care (the date of the first appointment and the date of the last appointment)
- Average number of appointments clients have with each clinician
Why Use the Retention Report?
It’s a tool for identifying areas in your business that might need rehabilitation and, importantly, an excellent resource in supervision and professional development sessions.
The data can be used to start constructive conversations with practitioners or as a tool to guide the questions you should be asking.
Pro Tip:
If you pull a general Retention Report and notice a low average, you can group it by the default calendar. This allows you to see the appointments for each practitioner in a snapshot, giving you a quick impression of where the lowest appointment retention occurs. You can view this without pulling individual Reports for each clinician, and it can serve as a resource to start retention conversations if needed.
3. Financial Reports
Running a successful private practice necessitates making a profit.
That’s why Power Diary offers the ability to track the financial health of your business and lets you view your current situation through easy-to-use Financial Reports.
Pulling a Financial Report will show you invoices and payments, sales, aged receivables, and activity summaries.
Why Use Financial Reports?
You need to know how much money has been generated by your practice, and by which practitioners.
Financial Reports can show you who has paid, who hasn’t and can identify debts that are becoming excessively overdue, with a risk of non-collection.
Perhaps you run a practice that needs to report on the number of services provided. By generating a Group Report by saleable category, you can view a snapshot of how those services are performing overall.
Pro Tip:
Power Diary allows you to hone in on specific categories in Financial Reports. For instance, you can filter your search by “location” or the word “concession”.
Financial Reports can also be correlated with the Client Appointments Report. If you’re using the invoice column, it’ll include the invoice number; if there is no invoice number on the report, that means that no invoice has been raised against that appointment. If you’re worried that an invoice has been missed, the Report will help you see that!
4. Referrers Report
Nurturing relationships with referrers is an excellent way to grow your practice.
This Report is one of Power Diary’s most powerful tools, as it allows you to view referrer activity easily – i.e. your most loyal referrers, referrers who haven’t referred clients to your practice in a while, and so forth.
Why Use the Referrer Report?
Beyond allowing you to identify the status of your referrers, this Report lets you see how much has been billed on each referral to identify who your key referrers are.
Having this data allows you to generate thank you letters for strong referrers, and affords you the opportunity to touch base with practitioners who may have reduced their referrals to your practice.
Pro Tip:
For some excellent advice on managing your relationships with your referrers, head over to our article “How to Build Referral Relationships in Private Practice” and Power Talks webinar all about referral relationships.
5. Statistics Report
A statistical overview of your client base is a valuable secret weapon.
Power Diary’s Statistics Report allows you to view statistics such as client type, gender, age, status, and postcode.
Why Use the Statistics Report?
This Report allows you to see particular information that may be of interest to your practice.
For example, if you know that the majority of your longer-term clients are women in the 21-30-year-old bracket within a 30km radius of your practice, you can tailor your marketing efforts to target that demographic.
Pro Tip
Apply a column filter to any column of the report to get additional insights into where the bulk of your clients are coming from.
Apply an age filter to and check the average age range being served by the different clinicians in your practice.
6. Classification Reports
Classifications are custom-created labels that you can apply to clients. This Report allows you to run searches by applying a filter using one or many of these labels.
Why Use Classification Reports?
They allow you to identify clients according to specific categories assigned by your practice. This reporting method makes specific information available to you for marketing, funding, or external reporting needs.
Pro Tip:
Consider using the Classification Report to create communication lists targeted at specific client classifications. For example, if you have a classification related to an anxiety diagnosis, you could email or send an SMS to all clients under that classification regarding an upcoming workshop on that topic. We recommend using the super convenient in-built Bulk Send function in Power Diary that is already linked with client classifications.
Note: Power Diary gives you the choice to bulk send only to those who have opted in for marketing communications. You can manually toggle this permission on in a client’s profile or automatically collect marketing permissions via the intake form.
Another example of the effective use of the Classification Report relates to grant funding applications; if the specifications for a funding opportunity indicate a focus on a particular population demographic, you can use this Report to look at the percentage of your clients who fit that demographic.
7. Inactive Client Report
The inactive client report function identifies clients who haven’t returned or rebooked during a given timeframe. In essence, this will be the result of those clients’ status not having been actively updated in the system.
Why Use the Inactive Client Report?
This Report identifies clients who may have slipped through the administrative cracks. You can then reengage with those clients, which can be beneficial for both them and your practice – a clear win for everyone concerned!
8. Session Pack Expiry Report
The session pack expiry report shows you the status of Session Packs across the practice.
Monitoring the status of Session Packs allows you to proactively engage with clients to ensure continuity of care, and facilitate timely referral renewals or adjustments to treatment plans.
Why Use the Session Pack Expiry Report?
It will help you identify clients who’ve run out of or are about to run out of, funded sessions.
Pro Tip:
The effectiveness of your Reports largely depends on the use of column filters. Use these filters to focus on specific details you’re interested in! For example, if you set a filter on the “Sessions Left” column to show only clients with less than two unallocated sessions, you’ll generate a list of clients who need to secure a new referral. This will help ensure that their treatment continues without any delay.
9. Client Sources Report
The Client Sources Report is another effective way of identifying referrers and the marketing strategies that are working most effectively.
Using this Report, view how clients found your practice (for example, word of mouth, a social media advertisement, or a referral). An added bonus to this Report is the ability to view how much has been billed from each client source.
Why Use the Client Sources Report?
It allows you to quickly view which marketing efforts have the biggest impact on your practice.
If, for example, you’re spending on social media ads and none of your clients have reported seeing them despite your efforts, you could consider redirecting those funds to a more successful client source.
Pro Tip:
The best way to make this Report work for you is to ensure that you automate gathering client source information on intake forms.
Power Diary’s Reports feature can significantly contribute to the growth and success of your health practice. Knowing how to use Reports allows you to take the pulse of your business, assess trends and leverage data.
Whether it’s tracking new client acquisitions, monitoring retention rates, understanding the financial health of your practice, nurturing referrer relationships, or evaluating client sources, Power Diary’s reporting functionality offers valuable insights and practical tools for honing your practice’s performance.
For more information, have a look through these additional resources and don’t hesitate to contact our customer support.
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