1. Inquiry to Assessment Ratio - This metric tracks how many inquiries from potential clients or their families lead to in-home assessments. A lower ratio may indicate that your initial communication or intake process needs improvement.
2. Assessment to Client Conversion Rate - This measures how many assessments turn into paying clients. If the rate is low, it may mean you need to improve your assessment process or how you communicate the value of your services.
3. Client Retention Rate - This metric tracks how long clients stay with your service. A high retention rate suggests satisfaction with your services, while a low rate could indicate issues with caregiver quality or client/caregiver compatibility.
4. Caregiver Retention Rate - Retaining skilled caregivers is vital, especially those trained in caring for veterans. High turnover can lead to inconsistency in care, which can be particularly challenging for clients.
5. Client Satisfaction Scores - Regularly survey your clients and their families to gauge their satisfaction with your services. This could include the quality of care, communication, scheduling, and caregiver professionalism.
6. Client Referral Rate - Measure how many new clients come from current clients and their families. A high referral rate often indicates high satisfaction with your services.
7. Professional Referral Rate – Measure how many new clients come from professional sources such as doctors or social works (reference back to the marketing section of this playbook). A high referral rate often indicates high satisfaction with your services.
8. Average Hours per Client - This measures the average number of service hours provided per client.
9. Revenue Growth - Monitor your overall revenue growth from veteran services to assess the financial health of your business. Understanding what percentage of your revenue comes from veterans will help you to make decisions around marketing dollars in the future.
10. Cost of Client Acquisition - This measures how much you're spending on marketing and sales efforts to gain a new client. If this cost is high, you may need to refine your marketing strategy to target dementia clients more efficiently.
11. Other Marketing Metrics