What’s the payback to a practice?
Invest on the front end
The biggest costs in neurofeedback are in training and in the time it takes you to see patients. Our experience is to invest more in training, mentoring, and excellent equipment for the fastest payback. Being productive with patients is the payback many times over. If it takes you six months longer to be really productive, and we’ve seen new clinicians need 12 months, it costs you a lot. Remember, one patient is going to bill $2,000-$4,000, depending on your situation. Seeing patients even one month sooner matters.
The more competent and confident clinicians are, the faster they can add patients. Being successful with patients makes for a successful practice. The faster you are successful, the more demand you’ll experience for neurofeedback. So your goal is to get skilled at neurofeedback as quickly as possible.
You need some projections. If the average patient comes for 35 sessions total (some will come more, some less), and it costs “X” dollars per patient, how do you assign the cost of your time? Are you doing the work yourself? Include the intake which is longer and may involve additional tests and assessments. Are you adding patient hours, or is this simply replacing hours that you already have filled with other appointments? Will you be able to get help via technicians, and if so, how soon, and who works out best? How do they get trained?
Computing the numbers
It’s very helpful to do a cash projection by month. Neurofeedback Solutions has a spreadsheet model that can help compute cash projections for a practice. The model is customized per client, because each practice is unique and has its own parameters. Contact us if we can help.