It is hard to recover from last-minute cancellations and no-shows.
It makes the day o a business coordinator stressful. Doctors also feel the stress of understanding the negative impact of failed appointments.
Cancellation rate = # canceled visits / # scheduled visits Cancellation (or no-show) rate: # of broken appointments by hours should be low.
If you have 100 appointments scheduled and 20 failed appointments, the cancellation rate is 20%. The cost of canceled appointments is high.
Financial Impact of failed appointments on the overall success of your practice:
If your average production per patient is $300, the failed appointments in one month cost your practice $6,000. Multiple by 12= 72,000K per year.
Business coordinators play a pivotal role in preventing no-shows and last-minute cancellations.