How many of you do follow-up reports to track whether clients actually implemented your recommendations? Thinking about offering this as an additional service but not sure how to structure it or what to charge.
Follow-up reports - tracking implementation
Eleanor, I do 6-month follow-ups for larger clients. Usually just a quick review of bills to confirm savings materialized. Charge about 20% of the original audit fee. Good way to maintain relationships and sometimes leads to additional work.
Hugh's pricing sounds about right. I find the follow-ups often reveal new issues too. Equipment gets changed, rates get updated, facilities expand. What starts as a progress check becomes a mini audit.
Bob, that's a good point about finding new issues. Do you structure it as a flat fee or still do contingency? Seems like contingency might be complicated for follow-up work since it builds on the original audit.
Eleanor, I do follow-ups as flat fees to keep it simple. The real value is in client retention and referrals. Hard to put a price on having clients who trust you enough to call when new issues come up.
Randy's right about the relationship value. I've had follow-up clients refer me to their other facilities or corporate contacts. The follow-up fee barely covers my time but the referral business makes it worthwhile.