Why Your Practice is hemorrhaging money (and how to stop the bleeding)

Retention is a business imperative. Focusing on patient retention isn't just "nice to have"—it's essential for a profitable practice. By leveraging technology and focusing on the patient experience, you can build a loyal patient base that fuels your growth for years to come.

Miro

7/25/20253 min read

Let me tell you a quick story.

Last year, I had lunch with Dr. Emily, a friend who runs a solo practice in Ohio. She’s smart, hardworking, and had a waiting list out the door. But she was stressed.

“I’m killing myself here,” she said. “I’m working 60-hour weeks, burning cash on ads, and my staff is quitting left and right. But my bank account? Barely floating.”

I asked to see her numbers.

Turns out, she was making $150/hour on new patients—but losing $200/hour on no-shows and last-minute cancellations. Her retention rate? 58%.

Here’s the brutal truth:
You can’t growthack your way out of this problem.
You can’t Facebook-ad your way to success if your existing patients feel like replaceable cogs in a machine.

The $10,000 patient (and why You’re losing them)

Let me introduce you to Mrs. Thompson.

She’s 48, has three kids, and’s been coming to your practice for 8 years. Last year, she:

  • Bought $800 in premium lenses

  • Referred her husband and two teens

  • Left a 5-star review that brought in 3 new patients

Her lifetime value? $10,000+

Now meet Mr. Garcia.

He’s a first-time patient who came in for a routine exam. You spent 20 minutes with him, wrote a script for contacts, and never heard from him again.

His lifetime value? $0

Which one is your practice built for?

The 3 Silent Killers of Patient Retention

1. “We’ll Call You… Eventually”

You know that post-visit email you send? The one that says, “Thanks, come back next year!”? That’s like handing a patient a business card and saying, “Call me maybe.”

What actually works:

  • Same-day follow-up: “Hey [Name], this is Dr. [Your Name]. How are those new glasses feeling? Need any adjustments?”

  • Proactive care: “Your contact prescription expires in 3 months. Let’s get you refitted before you’re stuck with blurry vision.”

2. “Our Staff is Just Here to Collect Paychecks”

Your front desk isn’t the problem. Your systems are.

Example:
Patient calls to reschedule. Your staff says, “The earliest slot is next Tuesday at 3 PM.” Patient hangs up and books with your competitor who offers same-day slots.

Fix it:

  • Empower your team: “If a patient wants to switch appointments, don’t say ‘no.’ Say, ‘Let me find you a better time.’”

  • Automate the easy stuff: Let patients reschedule online. No approval needed.

3. “We’re Just a Transaction”

You’re a healthcare provider, not a car wash. But if your patients only remember you for the $120 exam fee, you’re losing them.

How to fix it:

  • Remember the small stuff: “I saw your post about the marathon—congratulations! Let’s make sure your sports glasses are fitting well.”

  • Be human: When a patient mentions their kid’s college acceptance, send a card. Not a mass email.

The 10-Minute Fix That Saved My Practice

Three years ago, I was Dr. Emily. I was tired, frustrated, and watching my revenue flatline. Then I tried this:

  1. I fired my old PM software. (RIP, 2005-era system.)

  2. I hired a part-time “patient whisperer” (a.k.a. a receptionist who actually likes people).

  3. I started acting like a doctor, not a CEO.

Results:

  • No-show rate dropped from 22% to 8%

  • Retention jumped to 85%

  • Revenue increased 37% without adding staff

The secret sauce?
I stopped treating patients like transactions and started treating them like… well, like people.

Your Homework (No, Really—Do This Tonight)

  1. Call 5 patients who haven’t been in for a year. Not your staff—you, the doctor. Say:
    “Hi [Name], this is Dr. [Your Name]. I noticed it’s been a while since we saw you. Is everything okay with your vision? We miss you!”

  2. Delete your “reminder” email template. Replace it with:
    “Hey [Name], just checking in! How are those new lenses working? Let me know if you need any tweaks. – Dr. [Your Name]”

  3. Fire your PM software if it can’t do these 3 things:

    • Auto-send follow-ups based on visit type

    • Let patients book online (24/7)

    • Track patient history in a way that’s useful, not just a list of dates

Final Thought: You’re Not a Hospital. Act Like It.

Hospitals can get away with being impersonal. You? You’re a small business. A neighborhood service. A trusted advisor.

The patients who leave you aren’t doing it because of price. They’re leaving because they felt like a number.

Your job isn’t to acquire patients. It’s to keep the ones you already have.

Now go fix your damn systems.

P.S. If you’re still using paper forms, we need to talk.