PLV Calculator is a tool we use to calculate the total revenue a new patient will generate for your medical practice. By inputting these data points into the calculator, we can gain insights into the potential revenue that can be generated from each patient over their lifetime. PLV calculation will show you the total marketing return on investment (ROI) and, more significantly, how much you can afford to spend on marketing to bring on a new patient.
The data shown below is just a sample computation to show you how you can determine the Patient Lifetime Value for your practice. All you have to do is enter in the average value for each line:
The First Time Patient Visit Revenue is $100
Recurring Visit Revenue would be also $100 per visit
Average Visits per Year is 12 ( the patient doing a monthly visit )
Average Number of Years ( let’s say the patient has been visiting regularly straight for 3 years )
Your Lifetime Patient Value would be $3700
The calculator will then work the formula for you to determine your individual Patient Lifetime Value. You can run this calculator as many times as you like to find the PLV for all the different services you offer or the types of patients you encounter at your practice.
It’s important to note that while the PLV Calculator provides estimates based on historical data and assumptions, it should be used as a tool for strategic planning rather than an exact prediction of individual patient behavior or financial outcomes.
Visit https://marketingdr.co/patient-lifetime-value-calculator/ to find out more about PLV Calculator.