Costs and prevention of patient defection.
Although other industries have recognized that increased customer loyalty brings increased revenues and profitability, few medical practices have sought even to measure patient retention or loyalty. When patients leave a practice, new patients must be attracted to replace lost ones at significant cost, often invisible to and underestimated by physicians. Understanding the lifetime value of a patient may be one route that leads to better patient loyalty practices and enhanced profitability.
Clarke
R N
RN
Boston University Health Care Management Program, 595 Commonwealth Avenue, Boston, MA 02215, USA. rclarke@bu.edu
D006801:Humans; D007182:Income; D007349:Insurance, Health, Reimbursement; D008389:Marketing of Health Services / Q000191:economics; D009937:Organizational Objectives; D017060:Patient Satisfaction / Q000191:economics*; D011216:Practice Management, Medical / Q000191:economics / Q000592:standards*; D014481:United States