Case Study
Case Study
Virtual Assistant for Dental Clinic
The solution improved customer satisfaction, increased new patient appointments, boosted operational efficiency, and contributed to a 16.4% increase in annual revenue
40%
New patient inquiries
16.4%
Increase in revenue
What challenge did the dental clinic face?
The dental clinic missed 15% of its calls during peak hours due to insufficient staff, leading to a potential annual revenue loss of $150,000.
What solution was implemented?
The clinic hired a virtual assistant for $10 per hour to ensure all calls were answered during business hours, capturing missed opportunities and increasing revenue.
What were the results of the solution?
The clinic recovered 750 missed calls annually, converting 180 new patients and generating an additional $144,000 in revenue. After deducting the $20,800 cost of the virtual assistant, the clinic achieved a net revenue gain of $123,200.
Overview
Let’s consider a mid-sized dental practice in California that misses about 15% of its calls due to insufficient staff during peak hours, translating to a potential revenue loss of $150,000 annually (as calculated in the previous analysis). By employing a virtual assistant for $10 an hour during business hours, this office could ensure all calls are answered, capturing lost opportunities and increasing revenue.
Cost of Hiring a Virtual Assistant
Assuming the dental office operates 8 hours per day, 5 days a week, the cost of a virtual assistant would be:
- Hourly Rate: $10 per hour
- Daily Cost: 8 hours x $10 = $80 per day
- Weekly Cost: $80 x 5 days = $400
- Annual Cost: $400 x 52 weeks = $20,800 per year
Revenue Recovery by Answering All Calls
If all calls are answered, the practice could recapture nearly all missed call opportunities.
- Missed Calls Converted: Previously, the practice missed 750 calls annually due to staffing limitations. With a virtual assistant answering all calls, these 750 missed calls would now be answered.
- New Patient Opportunities:
- Of the 750 recovered calls, 40% are new patient inquiries.
- Conversion Rate for new patients remains at 60%.
- Revenue from Recovered New Patients:
- Recovered New Patient Inquiries = 750 x 40% = 300 potential new patients
- Converted to Appointments = 300 x 60% = 180 appointments
- Average Revenue per Patient: $800
- Annual Revenue Gain = 180 x $800 = $144,000
Net Financial Impact
Gross Revenue Gain: $144,000
Annual Cost of Virtual Assistant: $20,800
Net Revenue Gain: $144,000 – $20,800 = $123,200
Percentage Impact on Revenue
If the dental practice’s annual revenue is approximately $750,000, the impact of recovering these calls would be:
- Revenue Increase from Virtual Assistant = $123,200
- Percentage Increase in Revenue = ($123,200 / $750,000) x 100 = 16.4%
Additional Benefits
- Improved Patient Satisfaction and Retention: Existing patients benefit from timely communication, leading to higher satisfaction and potentially more follow-up appointments.
- Increased Operational Efficiency: With a virtual assistant handling calls, in-office staff can focus on patient care without being distracted by incoming calls.
- Enhanced Practice Reputation: The practice is seen as more responsive, professional, and patient-centric, which can lead to positive word-of-mouth and referrals.
Conclusion
By employing a virtual assistant at $10 an hour to ensure that no calls are missed during business hours, a California dentist’s office could recover $144,000 in lost revenue and experience a 16.4% increase in annual revenue after expenses. The $20,800 investment in a virtual assistant yields a net gain of $123,200 over a year, making this an efficient and cost-effective strategy to enhance both patient acquisition and practice revenue.