Your marketing agency sends you a report: “Your blog generated 45,000 impressions last month. Your Google Ads had a 3.2% click-through rate. Your email campaign reached 8,500 people.”
You nod. It sounds impressive. But then you check your actual patient numbers.
Last month, you acquired 7 new TMS patients. At $15,000 lifetime value per patient, that’s $105,000 in revenue.
Your total marketing spend: $28,000.
ROI: 375%
But you have no idea which part of that $28,000 actually generated those 7 patients. Was it the blog? The ads? The email? Organic search? Referrals?
Your marketing team says, “The blog generated 45,000 impressions, which means it’s working.”
But 45,000 impressions that contributed to zero new patients isn’t working. It’s a vanity metric.
This is the disconnect between marketing metrics and business metrics. Your marketing team is optimizing for metrics that look good in a spreadsheet but don’t connect to revenue.
You need to stop measuring marketing activities and start measuring marketing outcomes.
The Vanity Metrics Trap
Healthcare marketing is drowning in vanity metrics. These are numbers that look impressive but don’t reflect actual business impact:
Website traffic: “You got 12,000 unique visitors last month!”
Why it’s vanity: If those 12,000 visitors produce zero qualified leads, the traffic is worthless.
Impressions: “Your campaign reached 500,000 people!”
Why it’s vanity: Reach doesn’t equal engagement. 1 million impressions to disinterested people is worse than 1,000 impressions to high-intent people.
Email open rates: “45% of your audience opened your latest email!”
Why it’s vanity: Opens don’t equal patient acquisition. An email with a 45% open rate that produces zero clicks to your services is a metric that flatters without informing.
Click-through rates: “Your Google Ads had a 4.2% CTR!”
Why it’s vanity: Clicks are free. Conversions to patients cost money. A high CTR to a bad landing page is wasted spend.
Social media followers: “You now have 8,500 Instagram followers!”
Why it’s vanity: Followers who don’t convert to patients are an audience, not a customer base.
Blog rankings: “You’re ranking #1 for ‘depression treatment near me’!”
Why it’s vanity: Ranking #1 for a keyword is meaningless if the page doesn’t capture leads or convert traffic to patients.
Monthly recurring users: “1,200 people visited your website this month!”
Why it’s vanity: If those people never contacted you or scheduled appointments, they’re visitors, not prospects.
All of these metrics are easy to measure, easy to report, and easy to look impressive. None of them connect to revenue.
They’re the wrong metrics to optimize.
The Revenue-Connected Metrics Framework
Instead of vanity metrics, track the metrics that actually drive revenue for a neuromodulation clinic:
Tier 1: Lead Generation Metrics (Top of Funnel)
These measure your ability to attract interested people.
1. Total leads per week
- Definition: Number of inquiries (phone calls, form submissions, chat messages, etc.) from people interested in your services
- Why it matters: This is the absolute foundation. Without leads, you have no business.
- Formula: Sum of all inquiries from all sources
- Benchmark: 30–50 leads per week for an active marketing clinic; 10–20 for passive word-of-mouth
- Track: Daily, roll up to weekly
- Action threshold: If declining week-over-week, increase marketing spend or evaluate channel effectiveness
2. Leads by source
- Definition: Breakdown of leads by originating channel (organic search, paid ads, referrals, blog, social, direct, etc.)
- Why it matters: Tells you which marketing channels are producing leads, so you can allocate budget accordingly
- Formula: Count inquiries from each channel
- Benchmark: Varies by market; typically organic search produces 30–40% of leads for established clinics
- Track: Weekly
- Action threshold: If one channel is producing 0% of leads, consider reallocating that spend or investigating channel issues
Tier 2: Lead Quality Metrics (Middle of Funnel)
These measure whether the leads you’re attracting are actually qualified.
3. Qualified leads per week
- Definition: Number of leads that meet your clinical and financial qualification criteria (failed adequate meds, no contraindications, insurance coverage viable or can pay cash, etc.)
- Why it matters: Total leads are useless if they’re unqualified. A clinic with 20 total leads but 15 qualified leads is outperforming a clinic with 50 total leads but 5 qualified leads.
- Formula: Count leads that pass qualification screening (Step 3 and 4 from the 5-step process)
- Benchmark: 40–60% of total leads should be qualified (varies by marketing targeting)
- Track: Weekly
- Action threshold: If qualification rate is below 30%, investigate: Are you attracting wrong audience? Is screening process too strict? Is marketing messaging accurate about who qualifies?
4. Lead-to-consultation booking rate
- Definition: Percentage of qualified leads who actually book a consultation appointment
- Why it matters: A qualified lead who doesn’t book an appointment is a lost sale. This metric shows your sales/coordination effectiveness.
- Formula: Qualified leads who book / Total qualified leads × 100
- Benchmark: 60–75% of qualified leads should book (assuming they’re truly qualified)
- Track: Weekly
- Action threshold: If below 50%, investigate: Is scheduling process too complicated? Are coordinators following up quickly? Are patients second-guessing after initial contact?
5. Cost per qualified lead
- Definition: How much you spend on marketing to acquire one qualified lead
- Why it matters: Drives profitability of your marketing spend
- Formula: Total marketing spend / Total qualified leads
- Benchmark: $150–$400 per qualified lead (varies by market, channel, level of targeting)
- Track: Monthly
- Action threshold: If above $500, marketing spend is inefficient; investigate ROI by channel
Tier 3: Consultation Metrics (Lower Middle of Funnel)
These measure what happens once you’ve captured a qualified lead and they’ve booked.
6. Consultation show-up rate (No-show rate)
- Definition: Percentage of booked consultations where patients actually show up
- Why it matters: A booked appointment that turns into a no-show is wasted clinical time and lost revenue
- Formula: Attended consultations / Booked consultations × 100
- Benchmark: 75–85% (industry average is 75–80%)
- Track: Daily / Weekly
- Action threshold: If below 70%, investigate: Are you overbooking? Is scheduling too far in future? Are reminders not reaching patients? Are confirmations unclear?
7. Consultation-to-treatment conversion rate
- Definition: Percentage of consultations that result in the patient starting treatment
- Why it matters: A consultation is only valuable if it converts to an enrolled patient
- Formula: Patients who start treatment / Consultations completed × 100
- Benchmark: 50–65% (depends on psychiatrist’s assessment standards and treatment recommendations)
- Track: Weekly
- Action threshold: If below 40%, investigate: Are clinical criteria being communicated clearly before consultation? Are patients getting bad news during consultation? Is psychiatrist too conservative in recommendations?
Tier 4: Treatment & Revenue Metrics (Bottom of Funnel + Revenue)
These measure actual patient acquisition and revenue generation.
8. Monthly patients acquired (treatment starts)
- Definition: Number of new patients who actually begin treatment (first TMS session, first Spravato appointment, etc.)
- Why it matters: This is the ultimate measure of marketing effectiveness—actual paying customers
- Formula: Count of patients with first treatment appointment completed
- Benchmark: 5–15 new treatment starts per month for active clinics
- Track: Monthly
- Action threshold: Track trends month-over-month; 20%+ decline month-over-month warrants investigation
9. Patient lifetime value (PLV)
- Definition: Expected total revenue per patient across entire relationship (initial treatment + maintenance + potential retreatment)
- Why it matters: Determines how much you can justifiably spend to acquire a patient
- Formula: Average revenue per patient over 12–24 months
- Benchmark: $12,000–$20,000 for TMS patients (varies by protocol, maintenance uptake)
- Track: Quarterly (long-term metric)
- Action threshold: If declining, investigate: Are patients discontinuing treatment? Are maintenance sessions being underutilized? Are secondary treatments not being recommended?
10. Treatment course completion rate
- Definition: Percentage of patients who complete the recommended full course of treatment (e.g., 30–36 TMS sessions) vs. dropping out mid-course
- Why it matters: Incomplete treatment courses reduce per-patient revenue and may indicate clinical, operational, or financial barriers
- Formula: Patients who completed full course / Patients who started treatment × 100
- Benchmark: 70–80%
- Track: Monthly
- Action threshold: If below 60%, investigate: Are side effects unmanaged? Are costs creating barriers? Is transportation difficult? Is engagement/motivation lagging?
Tier 5: Financial ROI Metrics (Business Impact)
These measure actual return on marketing investment.
11. Cost per new patient (patient acquisition cost)
- Definition: Total marketing spend divided by number of new patients acquired
- Why it matters: Determines whether your marketing spend is profitable
- Formula: Total marketing spend / Total new patients acquired
- Benchmark: $1,500–$3,500 per new patient (varies by market, channels, competition)
- Track: Monthly
- Action threshold: If above $5,000 per patient, marketing is uneconomical; if below $1,000, you may be underinvesting and leaving revenue on table
12. Marketing ROI
- Definition: Revenue generated from new patients minus marketing spend, divided by marketing spend
- Why it matters: The ultimate business metric—is marketing actually generating profit?
- Formula: (Total patient revenue – Marketing spend) / Marketing spend × 100
- Benchmark: 200–400% for efficient healthcare marketing (meaning $1 spent generates $3–5 in revenue)
- Track: Monthly
- Action threshold: Below 100% (meaning marketing spend exceeds revenue generated) means your marketing is unprofitable
13. Revenue per marketing dollar
- Definition: How much revenue is generated for each dollar spent on marketing
- Why it matters: Direct measure of marketing efficiency
- Formula: Total patient revenue / Total marketing spend
- Benchmark: $3–7 in revenue per $1 spent
- Track: Monthly
- Action threshold: Below $2:1 suggests inefficiency; above $5:1 suggests opportunity to invest more
Tier 6: Operational Health Metrics
These measure whether your system is working smoothly.
14. Lead response time
- Definition: How long between lead inquiry and first response from clinic
- Why it matters: Affects lead qualification and booking rates significantly
- Formula: Average time from inquiry to response
- Benchmark: Under 15 minutes during business hours; under 2 hours after-hours
- Track: Weekly (sample 10–20 leads)
- Action threshold: If averaging over 30 minutes, investigate: Are coordinators overwhelmed? Is process not optimized? Is technology missing?
15. Patient satisfaction score (NPS)
- Definition: Net Promoter Score measuring whether patients would recommend your clinic
- Why it matters: Satisfied patients generate referrals, which is lowest-cost patient acquisition channel
- Formula: % promoters (9–10 rating) – % detractors (0–6 rating)
- Benchmark: 50–70 for healthcare
- Track: Monthly (survey sample of recent patients)
- Action threshold: Below 30 indicates patient satisfaction issues that will tank referral-based acquisition
The Real KPI Dashboard: What Actually Matters
Here’s the metrics framework a neuromodulation clinic should actually track:
| Metric | Formula | Target | Frequency | Red Flag |
|---|---|---|---|---|
| Tier 1: Lead Gen | ||||
| Total leads/week | Count all inquiries | 30–50 | Weekly | <20 |
| Leads by source | Breakdown by channel | Organic 40%+ | Weekly | One channel >80% |
| Tier 2: Qualification | ||||
| Qualified leads/week | Leads passing screening | 40–60% of total | Weekly | <30% |
| Lead-to-booking rate | Qualified who book / Total qualified | 60–75% | Weekly | <50% |
| Cost/qualified lead | Total spend / Qualified leads | $150–400 | Monthly | >$500 |
| Tier 3: Consultation | ||||
| Show-up rate | Attended / Booked × 100 | 75–85% | Weekly | <70% |
| Consultation conversion | Treated / Consultations × 100 | 50–65% | Weekly | <40% |
| Tier 4: Revenue | ||||
| Monthly new patients | Count treatment starts | 5–15 | Monthly | 20%+ decline |
| Patient lifetime value | Avg revenue per patient | $12,000–20,000 | Quarterly | Declining trend |
| Course completion | Completed / Started × 100 | 70–80% | Monthly | <60% |
| Tier 5: Financial | ||||
| Cost per new patient | Total spend / New patients | $1,500–3,500 | Monthly | >$5,000 |
| Marketing ROI | (Revenue – Spend) / Spend × 100 | 200–400% | Monthly | <100% |
| Revenue per marketing $ | Total revenue / Total spend | $3–7 | Monthly | <$2 |
| Tier 6: Operational | ||||
| Lead response time | Avg time to first response | <15 min (hours) | Weekly | >30 min |
| Patient NPS | Promoters – Detractors % | 50–70 | Monthly | <30 |
How to Build This Tracking System
Step 1: Choose Your KPI Stack (Start with Tiers 1–3)
Don’t try to track all 15 metrics immediately. Start with:
- Total leads per week
- Qualified leads per week
- Lead-to-booking rate
- Show-up rate
- Consultation conversion rate
- Cost per new patient
- Marketing ROI
Track these for 2–3 months. Once you have consistent data, add Tier 4 and 5 metrics.
Step 2: Set Up Tracking Infrastructure
- CRM integration: Use your CRM (SimplePractice, GoHighLevel, etc.) to track lead sources, qualification status, booking dates, show-ups
- Phone tracking: Use a phone tracking service (CallRail, CallTrackingMetrics, WhatConverts) to attribute phone leads to marketing sources
- UTM parameters: Add tracking parameters to all digital ads and links so Google Analytics can attribute traffic to sources
- Appointment data: Connect your scheduling system to your CRM so patient start dates are automatically captured
Step 3: Create a Dashboard
Use Google Data Studio, Tableau, or your CRM’s native dashboard tools to visualize:
- Weekly lead volume by source
- Qualification rate trend
- Booking rate trend
- Show-up rate trend
- Monthly patient acquisition
- ROI trend
Update weekly. Share with leadership.
Step 4: Set Action Thresholds
For each metric, define: “If this drops below X, we take this action.”
Example:
- If show-up rate < 70%, implement automated confirmation calls 24 hours before appointment
- If qualified-lead-to-booking rate < 50%, audit coordinator training and scheduling process
- If cost per new patient > $3,500, investigate which marketing channels are inefficient and reallocate spend
Step 5: Monthly Review & Optimization
Every month:
- Review all metrics against targets
- Identify metrics trending wrong
- Investigate root cause
- Implement corrective action
- Track impact on following month
The Trap to Avoid: Metric Gaming
One warning: Once you start tracking metrics, your team will optimize for them.
Good: Your team improves lead qualification processes, increasing the % of qualified leads from 40% to 55%. More patients start treatment. Revenue increases.
Bad: Your team makes qualification criteria so strict that 95% of inquiries are marked “unqualified,” artificially inflating the qualification rate while actually disqualifying viable patients.
Set metrics that drive behavior you actually want. Include human judgment and clinical assessment in qualification, not just checkbox criteria.
The Bottom Line
Stop measuring marketing activities. Start measuring marketing outcomes.
Stop reporting on impressions, clicks, and opens. Start reporting on qualified leads, patients acquired, and revenue generated.
Your marketing agency might say, “Your blog generated 50,000 impressions last month.”
You should respond: “How many of those impressions converted to qualified leads? How many qualified leads booked consultations? How many consultations converted to patients? What’s the ROI?”
If they can’t answer those questions, they’re optimizing the wrong metrics.
Track what actually matters: the path from stranger to patient to successful treatment outcome.
Everything else is noise.
