Why spend one more dollar to make the phone ring any more than it already is, if you cannot convert the business that is presenting? Over the 20 years working in hospice, it amazes me how this important and critical growth function is not continually developed to be high performing. The key measures of success (KPIs) to determine high performance are, 1.) a 90-day 80% rolling referral to admission conversion rate, 2.) 80% of admissions occurring on the same day the referral is received and 3.) the average time to complete an admission being three and half hours.
There are 5 key elements to work on to achieve high-performance and are as follows:
- Do you know you are capturing ALL the referral inquiries presenting. These include professional, soft and napkin referrals.
- A super strong sense of URGENCY. Do you have a philosophy of “name, room number, go” and is the word wait a major part of your vocabulary?
- Eligibility Process. Do you have a consistent eligibility process in place or are single points of failure in play. This is the single largest invisible fact on a hospice’s growth.
- A 90-day pending list and work process. This list is the best place to get an admission today! Do you have a robust pending list and work process that is well organized, identifies the barriers as to why an admission did not occur and the counter-measures to blow through the barrier.
- Organizational commitment and wisdom. Are the entire organization’s resources drawn upon to achieve the KPIs.
Building a superior front end process to accept and act upon referrals is the life blood of any organization. At the Orlando November 20th and 21st Master Growth and Sales Boot Camp, you will study and learn how to strengthen and improve your referral inquiry to admission process. Learn more here, https://hospiceadvisors.com/product/hospice-growth-sales-two-day-master-class-boot-camp-orlando-2/ or call Kurt at 734.658.6162
