Now that you understand your PVA, one of the wonderful ways you can use it is to be pro-active and reverse engineer your clinical schedule. If desired, by using your PVA you can create a schedule that allows for a growth-oriented practice.
For example, if your annual PVA is 25 and you see 100 return visits weekly, you need 4 NP starts each week to maintain that PVA. (PVA = RPV/NP) With this PVA, if you have more than 4 NP starts each week, your practice will grow; if you have less than 4 NP starts each week, it will shrink. When you are creating your schedule, consider how PVA can help you pro-actively optimize your appointment types.
Taking this one step farther, it is important to know your NP Conversion Percentage (NP Opportunities/NP First Adjustments)which can be used to determine how many NP spots you need in your schedule. For example, 8 NP opportunities each week with a 75% conversion will create 6 NPs. With this conversion, your practice will grow slowly and sustainably. Using this equation, you can ensure you have enough NP spots in your schedule to make your practice grow. An in-depth understanding of these principles will also allow you to create a waiting list practice, but that’s another story…
Have fun while you build your practice, increase your profits, and enjoy your life!
Dr. Jeff Scholten