Annual Pt Value
Found on the Collections Board, this metric will include the Average Annual Patient Value Trend in the Graph icon. You can also view definitions and additional information by selecting the Information ( i ) icon.
What is this?
Annual Pt Value shows you the average, annual value of your patients. This metric helps you see at-a-glance if the annual value of your patients is increasing or decreasing.
The Annual Pt Value is calculated by taking the last rolling 12 months of collections divided by the prior month's end active patients
Why is this Important?
This metric gives you an idea of how efficient your practice is. Are you really giving your patients all the care they need, or are you selling your services short? A practice can be seeing an avalanche of people, but if they are NOT effectively diagnosing all needs or getting compliance to their treatment plans, they won't be doing as much production as a practice with less Patient Visits and higher Production Per Visit. This metric will greatly affect the quality of life in and out of the practice.
This metric is directly tied to recall success, case acceptance, and AR procedures. If your practice has below average performance on this metric, trace the shortfall to either recall inefficiency, AR issues or treatment planning weaknesses, including diagnosis, presenting and coordinating the schedule. The higher your Annual Pt Patient Value is, the lower Patient flow is required to achieve your practice production and collection goals.
To learn how to view individual patient value, click here!