The Metrics That Matter: Unlocking Growth for Your Practice

Hi, I’m Nicole McCance, a psychologist turned business coach for therapists. When I scaled my group practice to 55 therapists in just three years, I uncovered the secret sauce for sustainable growth: tracking the right metrics.

What shocked me was how much I didn’t know about running a business when I first started. Like most of you, I wasn’t taught this in grad school. But once I figured it out, tracking metrics became the compass that guided me to consistent growth and financial freedom.

If the idea of diving into data feels overwhelming—don’t worry, I’ve got you! I’m breaking it down into simple steps so you can focus on growing your practice without wasting time.

Prefer listening instead of reading? You’re in luck—I recorded a podcast episode all about this topic. Click here to listen!

Why Metrics Are the GPS for Your Practice’s Success

Think of metrics as your practice’s GPS:

• They give you clarity on where you are and the best path to take to reach your goals.
• They help you avoid unnecessary detours (like wasting money on ineffective marketing).
• They reduce stress by allowing you to make decisions based on data—not guesswork.

Without tracking metrics, you’re flying blind. You may eventually hit your goals, but it will take longer, feel harder, and cause more frustration. By staying on top of your numbers, you’ll save time, energy, and money—and outpace most practice owners who neglect this entirely.

The Weekly Metrics That Keep Your Practice on Track

1. Review Your Calendar

When: Monday Morning

What to Do:

• Log into your practice management software (like Jane—grab a free month here).
• Check your team’s schedule for the week.
• Look for gaps, no-shows, or patterns that might signal a problem.

Why It Matters:

• Spot retention issues early. If a therapist is booking consults but not converting clients into ongoing sessions, this is your opportunity to step in and provide coaching.
• Identify staffing needs. For example, if weekends are consistently fully booked, you know it’s time to expand your team.
• Address process gaps. If someone took a day off without notifying you properly, it’s a chance to refine your communication systems.

Really, these are all things you should be delegating to your admin if you have one. Learn more about all of the things I recommend you delegate to your admin in this podcast episode.

2. Check Your Sales Report

When: Weekly

Track:

• Number of consults completed.
• Conversion rate (how many consults become paying clients).
• Total sessions (new and recurring).
• No-shows and cancellations.

Why It Matters:

• A high no-show rate might mean your intake process needs work. For example, are clients receiving clear reminders and understanding cancellation policies?
• Conversion rates help you understand how well your therapists are turning consults into loyal clients. If there’s a dip, consider additional training or reviewing their scripts.

3. Monitor Google Ads Leads

When: Weekly

Track:

• The number of leads generated.
• Trends in lead quality (are they qualified or just inquiries?).

Why It Matters:

Google Ads are often the first step in your funnel. If leads drop, it’s a red flag that your ad strategy or SEO needs tweaking. Regular monitoring ensures you can address issues quickly, whether that’s a misstep in ad targeting or adjusting keywords to attract better-fit clients.

The Monthly Metrics That Support Long-Term Growth

1. Sales Report Review

When: The 1st of the Month

What to Do:

• Compare month-over-month performance to track trends.
• Identify what worked (or didn’t) in the previous month.

Why It Matters:

• Consistent upward trends indicate growth, while dips signal areas that need improvement. Catching these patterns early gives you the opportunity to adjust quickly.

2. Calculate Return on Ad Spend (ROAS)

When: Monthly

Track:

• Total revenue generated from ads compared to your ad spend.

Why It Matters:

• A strong ROAS (e.g., 400%) shows your marketing dollars are well-spent. If it dips, it’s time to meet with your ad team and adjust strategies to keep leads flowing.

3. Review Revenue and Gross Profit

When: Monthly

Track:

• Total practice revenue.
• Gross profit (what’s left after paying your therapists).
• Revenue per therapist.

Why It Matters:

• This helps you identify top-performing therapists as well as those who may need additional training or support.

4. Analyze Referral Sources

When: Monthly

Track:

• Who referred each client (e.g., doctors, therapists, past clients).

Why It Matters:

• Knowing your top referral sources allows you to nurture those relationships, whether by thanking them, keeping them updated, or inviting them to events. It’s also a great way to identify untapped opportunities for growth.

How to Stay Consistent with Tracking

Consistency is key, but it doesn’t have to be overwhelming. Here’s how to make tracking easy:

1. Schedule Time: Block out time on your calendar for both weekly and monthly reviews. Treat it like an unmissable meeting with yourself or your team.
2. Delegate the Details: Hand off the task of pulling reports to your admin or operations manager. They can organize the data so you can focus on analyzing it.
3. Document Patterns: Keep notes on trends, gaps, and action items. Use these insights to make data-driven decisions and refine your strategy.

What’s Next?

If you’re ready to scale your practice, consider this your sign to start tracking these metrics. By consistently monitoring your data, you’ll have a clear path to growth and less stress along the way.

Let’s Connect! Follow me on Instagram @nicole.mccancemethod and check out my podcast, The Business Savvy Therapist for even more strategies to grow your therapy practice and attract more clients.

Your Business Bestie, Nicole