What does it cost to bring in a new patient? If you want your business to grow this might be the single most important number for you to know.
Why? Because if you want to sell an additional 20 hearing aids per month you will typically need to attract an additional 10-40 new patients depending upon the kind of patients you attract.
Multiply the cost per patient by the number you need to attract and you can estimate your business development and advertizing for the period.
To get your cost per new patients you simply divide your promotional expenses (business development, marketing, advertizing, etc.) by the number of new patients for the period.
If you want to realistically increase your sales this is a number you need to know.
Rick
