Top 10 Medical Marketing KPI’s – Key Performance Indicators

Many Practice Managers Often Confuse Medical Practice’s Objectives and Goals with Medical Marketing KPIs and Healthcare KPIs & Metrics. Key Performance Indicators (KPIs) for healthcare marketing measure the effectiveness of marketing efforts in attracting new patients, retaining existing ones, and growing revenue. A strong KPI strategy should be aligned with the organization’s overarching business goals. 

Goals and Objectives for your medical practice can be as follows: (these are examples)

1. Increase daily patient count at location in Palo Alto California by 20 patients per day in the next 12 months 
2. Increase patient satisfaction by 30% at location in Palo Alto California in the next 12 months
3. Reduce patient acquisition costs by 10% at location in Palo Alto California in the next 6 months 

10 Most Important Medical Marketing KPIs 

In order to achieve these goals, objectives or desired business results, the practice manager or medical director of a practice has to typically consider “how”  to achieve these desired goals. Next step to select medical marketing software,medical marketing vendors, service providers and medical marketing consultants for these various tasks.  Sometime the practice manager or medical director has enough resources like an internal staff who can oversee these initiatives and provide status to the practice manager or medical director.  Once the practice manager or medical director has established a medical marketing strategy, he or she has to come up with KPIs to measure ongoing progress and success of each area.

Working with hundreds of healthcare providers, PatientGain.com has established that there are 10 key KPIs for your medical marketing strategy.  These are built into you PatientGain.com’s Medical Marketing Dashboards.

Most Important KPIs. There are many – actually hundreds of ways to measure what happens online to promote your practice/clinic. Some of them are simply “noise”- We recommend the following list as a best practice. It has worked for hundreds of medical practices across the US and Canada.

1. Actual Patient Count – no one will question you if your actual patient count increases
2. Number of phone calls – 73 percent of patients still want to “call you” 
3. Appointment requests/inquiries – Using apps on Facebook and your mobile site allow patients to request an appointment
4. Local SEO Rankings – Extremely important to optimize Google, Yelp and Facebook business pages
5. Organic SEO Rankings – Identify your top 10 key words, and measure your performance. Then expand and go beyond the top 10. 
6. Online Advertising & PPC Data & Metrics. Capture GEO locations, demographic data for better targeting
7. Cost per lead
8. Website conversion rate
9. Emails Marketing open rate
10. Non-Social Engagement 

Key Performance Indicators (KPIs) for healthcare marketing measure the effectiveness of marketing efforts in attracting new patients, retaining existing ones, and growing revenue. A strong KPI strategy should be aligned with the organization’s overarching business goals. 

Financial and ROI metrics 

These KPIs directly connect marketing activities to the organization’s bottom line. 

• Return on Investment (ROI): This is the ultimate measure of your marketing’s profitability. It compares the revenue generated from a campaign to the cost of running it. A positive ROI proves the value of your marketing efforts.
  • Formula: (Revenue−Marketing Spend)Marketing Spend×100the fraction with numerator open paren Revenue minus Marketing Spend close paren and denominator Marketing Spend end-fraction cross 100(Revenue−Marketing Spend)Marketing Spend×100
• Patient Acquisition Cost (PAC): The total cost to acquire a single new patient. This helps determine the budget needed for new patient growth.
• Customer Lifetime Value (CLV): The total revenue a patient is expected to generate for your organization over their entire relationship with you. A high CLV can justify a higher PAC.
• Cost Per Lead (CPL): The cost of generating a single new lead. Tracking CPL is important for managing expenses and optimizing lead generation campaigns.
• Revenue from Marketing Campaigns: Tracks the total revenue that can be attributed directly to marketing initiatives, using tools like tracking URLs and CRM systems. 

Patient acquisition and conversion metrics 

These KPIs focus on the effectiveness of your marketing funnel, from initial contact to becoming a patient. 

• Leads by Type: This KPI provides insight into which lead sources are most effective. Examples include form fills, phone calls, content downloads, and patient portal registrations.
• Conversion Rate: The percentage of potential patients who complete a desired action, such as scheduling an appointment or calling the office.
• New Patient Acquisition: A direct count of the new patients acquired over a specific period. It is often segmented by marketing channel to identify the most successful campaigns.
• Appointment Bookings: Measures the number of appointments booked through specific marketing channels, such as online forms or dedicated phone lines.
• Referral Volume: Tracks the number of new patient referrals, which is a strong indicator of brand reputation and patient satisfaction. 

Online and engagement metrics 

These digital metrics reveal how effectively your content and online presence attract and engage your target audience. 

• Website Traffic and Analytics: Measures visitor behavior on your website, including:
  • Unique Visitors: The number of individuals visiting your site.
  • Traffic Sources: Identifies where your visitors are coming from (e.g., organic search, paid ads, social media).
  • Bounce Rate: The percentage of visitors who leave after viewing only one page. A high bounce rate may indicate poor content or a confusing user experience.
  • Engagement Depth: Includes pages per session and average time on site, indicating how interested users are in your content.
• Online Reputation and Reviews: Monitors patient feedback and average star ratings on review sites like Google, Yelp, and Healthgrades. A high-star rating and a strong response rate to reviews build credibility.
• Local SEO Rankings: Measures your visibility in local search results, as most patients look for care close to home.
• Social Media Engagement: Tracks interactions such as likes, shares, comments, and follower growth to gauge how well your content resonates with your audience.
• Email Open and Click-Through Rates: For email marketing, these metrics show how many recipients open your emails and click on the links within them. 

Patient retention and satisfaction metrics 

These KPIs focus on building long-term relationships and improving the patient experience. 

• Patient Satisfaction Score (PSAT): Measures patient happiness with the quality of their care and overall experience, often gathered through surveys.
• Net Promoter Score (NPS): Gauges patient loyalty by asking how likely they are to recommend your facility or practice to others.
• Patient Retention Rate: The percentage of existing patients who return for follow-up care or additional services.
• Follow-Up Visit Rate: Measures the percentage of patients who complete a recommended follow-up visit. It is an indicator of strong care coordination.
• Appointment Cancellation/No-Show Rates: Tracks missed appointments to identify potential issues with patient communication or scheduling processes. 

PatientGain.com is a comprehensive, HIPAA-compliant platform designed to increase new patients for healthcare practices and streamline marketing, patient acquisition, engagement, and retention. It provides a suite of integrated applications and services, often using AI and automation, to replace multiple vendor solutions. Book a Zoom meeting and see some real examples and ROI of marketing and advertising of healthcare practices.