St. Louis Unit Inquiry Tracking Worksheet Data Compilation 2017

1) Sales Close Rate

- Critical to track because they help you understand how successful you are at converting sales leads to actual clients - Requires tracking the number of referral inquiries you received during a given period as well as the number of new admissions/clients brought in during that same period - For more detailed information, these are the three suggested close ratios to track:

- Inquiry to Initial Consultation Close Rate - Initial Consultation to Admission Close Rate (specific definition of an initial consultation required) - Inquiry to Admission Close Rate *NOTE: This is the most important Key Business Indicator in this area which tracks how many inquiries become admissions to service (billing clients).

Formula (expressed as a percentage):

Inquiry to Admission # Initial Admissions Close Rate = # Initial Inquiries

2017 Inquiry to Admission Close Rates for Quarters 1 & 2 (St. Louis Unit Data):

# Initial Inquiries # Admissions Sales Close Rate

Solo Practice 112 53 47 %

Group Practice 164 54 33 %

All (Total) 276 107 39 %

2013 Home Care Pulse Benchmarking Survey (National Data):

Practice Revenue Sales Close Rate % of Total Practices (279 Participating)

$ 0-100,000 35 % 40 % NOTE: 65 % of Practices =

$ 100,000-200,000 51 % 25 % Independent Practitioner/

$ 200,000-500,000 30 % 23 % Stand Alone Agencies

$ 500,000 + 39 % 12 % Without Home Care Services

NOTE: MEDIAN (Middle) SALES CLOSE RATE = 37.5 % For Discussion and Contemplation:

How does your practice’s Sales Close Rate compare to your peers? What can you do to improve your Sales Close Rate?

2) Referral Source Category-All Inquiries (Drop-down Menu Choices)

Specifically what TYPE of Referral Source made the Initial Contact/Inquiry about your Care Management services?

3) Reason for Referral-All Inquiries (Drop-down Menu Choices)

Specifically what TYPE of Care Management Service was requested by the Initial Contact/Inquiry?

NOTE: ALL INQUIRIES data is compiled for each Initial Inquiry/Contact made to Care Management Practice and is listed on the Bar Graph in numbers by Total, Group and Solo Practices.

4) Referral Source Category-Admissions Only (Drop-down Menu Choices)

5) Reason for Referral-Admissions Only (Drop-down Menu Choices)

NOTE: ADMISSIONS ONLY data is compiled for ONLY Admissions that become Actual Clients for your practice. It is important to look at this data separately since they become customers for your practice since they ‘converted’ from Inquiries to Admissions. This data is listed on the Bar Graph as in numbers by Total, Group and Solo Practices.

For Discussion and Contemplation:

How does the Referral Source data for your practice compare with your peers?

Are you receiving the majority of your Inquiries and Admissions from Word of Mouth/Personal Sources? Are Attorneys one of your top sources for Inquiries and Admissions? What about referrals from Current/Previous Clients?

How do your Reasons for Referral compare to your peers?

Do you have a specialty/niche care management practice where the majority of Referrals/Admissions are for a certain type of client or service?

6) Initial Inquiry Communication Type (Drop-down Menu Choices)

Specifically what Communication Type (phone, email or face to face meeting) did you primarily receive for the Initial Inquiry and then for the Admission?

For Discussion and Contemplation:

Are there any surprises in the results of this data compilation? Do you receive the majority of your Initial Inquiries and Admissions by telephone? What about email? How do you compare with your peers?