Solo full-time practitioner

Peter is a busy psychologist who has built a thriving private practice over many years.  His services are in demand and he has an excellent reputation amongst his peers and local general practitioners.  He is aware that clients and referrers are frustrated at the time it takes to get an appointment and often he is unable to respond to phone messages in a timely fashion.  Peter is frustrated by the number of short notice cancellations he receives but does not know what to do about it because he simply does not have the time to fill from his extensive waitlist.  After long days of client work he then spends at least a couple of hours a night organising himself for the next day.  He is finding juggling a private practice and family overwhelming and does not feel like any area of his life gets the attention it requires. 

Peter’s practice specifics:

  • 35 available appointments per week
  • 20 clients on waitlist per week
  • 5 new referrals per week
  • 11 client cancellations or rescheduling per week
  • 53 incoming calls per week going to message bank, but not all leave a message
  • Unknown number of new referrals that find another psychologist because phone not answered
  • Peter charges $210/hour for a client consultation

Maximum possible income per week = 35 x $210 = $7,350

11 client cancellations cost the practice = 11 x $210 = $2,310 per week (31% of possible weekly income)

 10 hours of Peter’s time completing admin = 10 x $210 = $2,100 per week lost consulting time completing admin tasks

 

At the end of the week:

Peter has seen 24 clients and had a turnover of $5,040

Peter has lost $2,310 from client cancellations because he did not have the time to fill from his waitlist

Peter lost $2,100 of his time completing admin tasks.  More than enough to pay for administration support.

Value of PsychAdmin

Peter’s turnover – $5,040

Loss – $4,410 client appointments and Peter’s time completing admin

If you add turnover to lost appointments and Peter’s time = $9,457 possible income

Therefore the practice loses 42% of possible income every week

Over a year (48 weeks of work) Peter’s practice loses up to $211,680 of potential income.

Utilising PsychAdmin service:

  • answering all incoming calls as a professional front of house for Peter’s practice
  • capturing all new referrals when they ring so they do not go elsewhere
  • managing appointment cancellations and movements at the time of call
  • managing waitlist so cancellations are filled to maximise available appointments

Potential Turnover – $7,350 (not including Peter’s admin time which has now been freed up to use as he chooses.  If he wants to consult he could and boost his income)

Loss – cost of PsychAdmin (in this case less than 2 clients per week at Peter’s fee)

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