Metrics

Patient Lifetime Value (PLV)

The total revenue a practice can expect from a single patient throughout their relationship, including all visits, procedures, and purchases.

What Does This Mean?

Patient lifetime value is crucial for understanding the true cost of lost patients and the value of retention efforts. In optometry, a patient who returns annually for 10 years represents $5,000-10,000+ in total revenue. In dental, this number can be even higher. Understanding PLV helps practices justify investments in patient acquisition and retention.

Examples

  • An optometry patient who spends $500/year for 10 years = $5,000 PLV
  • A dental patient with regular cleanings plus occasional procedures
  • The long-term revenue impact of each lost patient

Related Terms

Patient Retention

The ability of a healthcare practice to keep existing patients returning for ongoing care rather than losing them to competitors or inaction.

Patient Acquisition

The process of attracting and converting new patients to a healthcare practice through marketing, referrals, and operational excellence.

Recall Rate

The percentage of patients who return for scheduled follow-up appointments, particularly annual exams or routine care.

mybcat Solutions

Learn how mybcat addresses patient lifetime value (plv):

Patient Recall Service

Bring Your Patients Back Before They Become Lapsed

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Medical Answering Service

Every Call Answered. Every Patient Captured.

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Explore More Terms

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