The 7 Key Strategies to Building a Successful Medical Practice

Even in Tough Economic Times

By Peter J. Polack, MD

www.medicalpracticetrends.com
emedikon LLC 2009

Contents
Who Am I And Why Am I Providing This Information?.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 4... Strategy 1 Get Clear On the Difference Between Marketing and Advertising. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .5 . . . Marketing.vs ..Advertising. Improving.Your.Practices.Marketing.Efforts A.Quick.Word.About.Sales Strategy 2 Take Back Control of Your Practice.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .9 . . You.Cant.Manage.What.You.Dont.Measure Consider.Switching.to.an.EMR.(Electronic.Medical.Records).System Strategy 3 Keep Your Existing Patients Happy. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. 11 . . Clean.Up.Your.Coffee.Stains Stay.In.Touch Strategy 4 Turn Down Business.. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. 13 Strategy 5 Sponsor Charitable Events.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 Strategy 6 Speak in Public.. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .15 Strategy 7 Develop A Reputation As The BEST Place to Work. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. . 17 Summary . .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. .. . 19...........

2007-2008 www.medicalpracticetrends.com

Dear.Colleague,

Its.scary.but.its.true ..
very.day,.talented,.ethical.physicians.across.the.United.States.are. closing.down.their.private.practices.and.seeking.staff.positions.with. other.clinics ..After.investing.hundreds.of.thousands.of.dollars.in. education,.equipment,.staff,.and.facilities,.these.doctors.find.. themselves.unable.to.generate.the.revenues.. necessary.for.their.practices.to.meet.expenses . Heres.the.sad.reality.behind.most.of.these.failures: The.problem.isnt.talent,.training,.or.a.passion.to.help.others ..The.problem.is.they. dont.run.their.practice.like.a.business . . The overall success of your practice hinges on you learning how to run it like a business This.report.is.going.to.give.you.an.insiders.guide.on.how.to.both.run.and.market.your. practice.more.effectively ..Youll.be.armed.with.the.knowledge.you.need.so.. you.wont.be.overlooked.by.potential.patients . In.just.a.moment ..I.m.going.to.reveal.the.7.key.strategies.. to.building.your.medical.practice.even.in.a.tough.. economic.times,.but.first . . ..

Who Am I And Why Am I Providing This Information? .

Im.Peter.J ..Polack.MD.and.I.am.a.board-certified.ophthalmologist,.practicing.for.over.12. years,.both.in.a.solo.and.a.group.practice ..I.lecture.on.corneal.diseases.and.teach.courses. on.corneal.transplant.surgery.to.other.ophthalmologists ..In.addition.to.publishing.several. articles,.abstracts,.and.papers,.Ive.coauthored.ophthalmology.textbooks.and.write.a.regular.column.on.technology.for.Ophthalmology.Management.Magazine . I.am.a.managing.partner.of.Ocala.Eye,.an.ophthalmology.practice.in.north.central.Florida ... Although.it.is.only.a.medium-sized.practice.ophthalmology.practice.it.is.considered.to.be. in.the.top.2%.of.practices.in.the.United.States.by.Pinto.and.Associates,.a.leading.practice. management.consulting.firm .. And.the.primary.reason.for.that.success.is.our.ability.to.effectively.market.that.practice,.and. to.never.be.satisfied.with.the.status.quo ..You.may.also.be.asking.yourself,.Why.would.he. give.away.this.information.for.free?.Well,.Im.revealing.this.for.two.main.reasons: REASON #1:..I.love.our.profession ..I.think.what.we.do.is.incredibly.important.and.vital .. REASON #2:..I.hate.to.see.other.physicians.struggle.day.and.night.to.make.their.practices.. . . work ..It.doesnt.have.to.be.that.hard ..

After.reading.this.report,.for.more.resources.available.to.help.physicians.reach.their.goals. with.their.practices,.please.visit.us.at.Medical.Practice.Trends ..But.whether.you.choose.to. take.advantage.of.these.tools.or.not,.I.absolutely.want.to.see.you.and.your.practice.succeed .. Because.what.we.do.matters.and.we.need.to.be.able.to.help.as.many.people.as.we.possibly. can . Okay,.now.that.you.know.who.I.am.and.why.Im.doing.this,.lets.talk.about.The.7.Key.. Strategies.to.Building.a.Wildly.Successful.Medical.Practice.Even.in.Tough.Economic.Times:

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STRATEGY #1 Get Clear On the Difference Between Marketing and Advertising

Marketing.vs ..Advertising .. Its.something.that.many.businesses.never.quite.get.the.handle.on ...And.if.you.dont,.it.can.cost.you.and.your. practice.dearly . So.well.make.this.both.easy.and.simple .

Marketing is what you do to get a prospective customer to want to contact you. Advertising is a single form of marketing, typically the most expensive one.
Why.is.understanding.this.distinction.important?..Because.if.your.practice.isnt.generating.the.revenue.it.needs. to.thrive.and.prosper,.you.need.to.be.able.to.analyze.the.situation.to.determine.where.the.problem.lies .. Marketing.is.the.total,.systematic.effort.by.a.business.(your.practice).to.compel.its.customers.(your.prospective. patients).to.seek.its.product.(your.services) ..Advertising.is.simply.one.of.many.aspects.of.marketing . External marketing.is.the.face.your.practice.presents.to.the.outside.world.and.includes.advertising,.publicity,. public.speaking,.magazine.advertorials,.direct.mail,.etc . Internal marketing.is.how.your.practice.is.viewed.from.the.inside.(but.more.on.that.later) . If.youre.not.getting.any.calls,.emails,.or.contacts.then.youve.clearly.got.a.marketing.problem . If.you.dont.know.how.to.effectively.make.your.case.to.the.average.man.or.woman.on.the.street,.they.may.never. know.which.steps.to.take.to.safeguard.their.health .

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And.if.they.dont.know.how.much.you.care,.and.the.tools.you.have.to.help.them,.not.only.could.they.suffer.longterm.negative.consequences,.your.practice.will.fail.to.achieve.the.success.you.deserve .. Put.yourself.in.the.mind.of.your.typical.patient ..What.makes.one.doctor.different.from.another?..In.fact,.how. many.average.Americans.have.any.idea.of.the.difference.in.training.and.education.between.a.medical.doctor.and. a.chiropractor? Probably.not.as.many.as.you.would.hope ..And.I.would.venture.to.say.that.many.people.would.just.as.likely.seek. the.advice.of.a.chiropractor.or.naturopathic.practitioner.than.their.medical.doctor .. As.you.know,.the.years.of.training.that.goes.into.your.certification.makes.a.huge.difference.in.the.health.and. well-being.of.your.patients ...And.its.what.sets.us.apart.from.all.of.the.other.healthcare.providers ..Its.so.critical. that.our.patients.get.the.care.and.treatment.they.deserve,.and.it.is.up.to.you.to.see.that.they.get.that . So.is.advertising.a.medical.practice.a.bad.thing?.Not.necessarily ..But.you.need.to.have.a.way.to.track.patients. acquired.through.that.medium,.perhaps.with.a.distinct.phone.number.or.promotional.code.tied.to.a.specific.web. page ..If.you.cannot.identify.the.source.of.the.new.business,.you.dont.know.whats.working,.and.thats.money. down.the.drain .. And.make.sure.your.message.makes.sense ..Dan.Kennedy,.the.marketing.guru,.puts.it.this.way:.you.cant.pay.Tiger. Woods.$40.million.to.promote.a.vehicle.that.nobody.wants.to.buy . Improving Your Practices Marketing Efforts To.improve.your.marketing,.the.first.step.you.need.to.take.is.to.identify.your.practices.Unique.Selling.Proposition. (USP) ...A.USP.is.what.makes.you.and.your.practice.different.from.every.other.competing.practice . Think.about.it ...If.you.are.the.same.as.every.other.doctor,.then.the.only.thing.that.a.potential.patient.has.to.rely. on.in.choosing.between.you.and.other.practices.is.an.insurance.list ..You.have.let.your.practice.become.a.commodity . Instead,.you.need.to.differentiate.yourself.from.the.competition.by.making.a.clear.case.for.what.makes.you. unique ...Maybe.it.involves.specialization ..Perhaps.yours.is.the.only.practice.offering.a.particular.service ...Or,.it. could.involve.the.fact.that.you.offer.a.greater.variety.of.services.than.anyone.else..in.essence,.you.are.a.onestop.shop.for.the.entire.range.of.a.familys.health.needs .. Having.a.clear,.distinctive.USP.will.do.wonders.to.focus.your.marketing.efforts . For.instance,.our.USP.of.comprehensive.eye.care.for.a.patients.entire.life.is.summed.up.in.our.tagline,.Vision.

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For.A.Lifetime,.which.is.associated.with.our.name.and.logo.and.is.found.on.all.of.our.materials.from.our.letterhead.to.our.website .. If.you.have.a.catchy.USP.or.tagline,.you.could.even.have.your.receptionist.include.it.when.answering.the.phone:. Good.morning,.youve.reached.the.Jones.Medical.Center,.the.Number.One.Resource.for.Family.Health.Care.in. Smytheville ..This.is.Gina,.how.may.I.help.you? And.how.about.the.practice.name?.This.is.an.important.part.of.your.marketing.as.well ..The.best.scenario.is.if.the. practice.has.a.proper.name,.such.as.Dr ..Jones.&.Associates.or.the.Wilson.Medical.Clinic .. On.the.other.end.of.the.spectrum.is.a.non-descript,.plain.vanilla.name.like.Internal.Medicine.Associates.or.Doctors.Clinic ..Not.very.compelling,.are.they?.If.your.practice.has.a.name.like.that,.you.should.strongly.consider. changing.it ..And.dont.worry..patients.will.take.right.to.it . By.the.way,.if.you.are.going.through.all.the.effort.to.change.your.practice.name,.I.would.strongly.recommend. that.you.consider.copyrighting.it ..There.is.federal.copyrighting.and.state.copyrighting..usually.the.latter.is.sufficient ..Speak.with.your.attorney.or.contact.a.lawyer.specializing.in.intellectual.property ..A.small.cost.now.can. save.you.a.lot.of.money.as.well.as.grief.later . Having.a.well-rounded,.consistent.marketing.plan.will.put.a.very.clear.stake.in.the.ground.regarding.what. makes.you.and.your.practice.unique.and.valuable .. Once.you.have.that.nailed.down,.all.the.rest.of.your.marketing.components.will.fall.into.place ...Your.yellow.page. ads,.direct.mail.campaigns,.website,.phone.scripts.-.everything.will.be.based.around.your.USP..this.is.what.is. known.as.branding .. A Quick Word About Sales Almost.everyone.who.gets.into.a.service.profession..whether.its.medical.or.otherwise..did.so.because.they. love.what.they.do ... But.did.you.ever.consider.that.what.often.occurs.between.a.doctor.and.his.or.her.patient.is.the.process.. of.selling?. Honestly,.most.physicians.dont ...In.fact,.the.stereotype.of.the.slick-talking.salesman.is.one.of.the.most.reviled. among.us ...But.as.master.motivator.Zig.Ziglar.points.out,.nothing.ever.gets.done.or.built.without.there.being.a. salesman.involved . Convincing.a.patient.that.he.needs.a.particular.procedure.for.his.well-being.or.another.patient.that.she.should. be.compliant.with.a.new.medication..these.are.the.same.skills.that.effective.sales.people.use . 2007-2008 www.medicalpracticetrends.com
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For.example,.our.practice.has.had.an.optical.shop.since.it.was.founded.decades.ago,.but.it.had.always.been. considered.a.service.for.our.patients.and.not.really.a.retail.business ..The.idea.of.selling.more.upscale.types.of. eyeglasses.and.premiums.to.patients.seemed.distasteful.to.the.doctors ..But.we.brought.in.a.consultant.who. pointed.out.that.as.physicians.we.had.a.responsibility.to.our.patients.to.educate.them.about.the.benefits.of.certain.optical.products . It.only.took.a.couple.of.patients.returning.with.heartfelt.thanks.about.how.much.better.they.could.drive.during. the.day.with.their.new.polarized.sunglasses.or.at.night.because.of.their.anti-glare.coated.glasses.for.the.doctors. to.get.it . Of.course,.if.you.become.mercenary.about.it,.such.as.selling.supplements.to.patients.for.conditions.they.dont. really.have,.it.will.come.back.to.bite.you ..A.short-term.financial.success.will.turn.into.a.long-term.problem.with. your.reputation.and.credibility ..A.sign.of.inappropriate.sales.pressure,.using.our.optical.as.an.example,.would. be.a.high.rate.of.return.of.glasses..this.is.due.to.buyers.remorse,.and.it.is.a.lose-lose.proposition.for.both.the. patient.and.your.business . Learning.to.be.comfortable.with.the.idea.of.selling.is.critical.to.your.practices.success ...So.the.first.step.the.big. change.in.mindset.needed..is.for.you.to.grab.hold.of.that.fact.and.dedicate.yourself.to.becoming.as.much.of.an. expert.in.selling.as.you.are.in.medicine . We.dont.have.time.to.cover.everything.involved.in.sales.technique..there.are.complete.courses.on.that .... Bottom.line,.effective.selling.boils.down.to.two.basic.principles:

Find out what the customer really wants. Move heaven and earth to help them get it.
You.dont.need.to.talk.fast ..You.dont.need.to.use.pressure ...You.just.need.to.truly.care.about.what.your.patient. wants.and.finding.ways.to.help.them.get.it .

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STRATEGY #2 Take Back Control of Your Practice

You cant manage what you dont measure Thats.an.old.adage.but.one.that.is.critical.to.the.long-term.viability.of.a.practice ..My.late.father.was.also.a.physician.but.his.generation.was.never.really.concerned.with.such.concepts.as.overhead..there.always.seemed.to.be. something.left.over.after.all.the.bills.were.paid .. But.you.cant.run.a.medical.practice.like.that.nowadays ..Most.businesses.today,.especially.larger.ones,.keep.track. of.various.metrics.that.are.akin.to.the.vital.signs.of.a.patient ..And.it.is.the.job.of.a.certain.executive.to.make.sure. that.those.vitals.stay.within.normal.limits ..There.are.even.software.programs.available.that.show.a.dashboard. of.a.companys.financials.at.a.glance .. If.you.are.not.sure.where.to.even.get.started.with.metrics.and.benchmarking,.consider.hiring.a.practice.management.consultant ..Check.with.your.specialty.organization.or.your.local.medical.society ..Some.consultants.are. specialty-specific,.but.many.can.work.with.any.type.of.practice ..The.consultant.can.teach.you.what.metrics.are. important.and.how.to.measure.and.track.them ..That.way,.you.can.always.keep.your.finger.on.the.pulse.of.your. practice .. . Consider Switching to an EMR (Electronic Medical Records) System Its.been.said.that.Charles.Dickens.could.walk.into.any.health.care.clinic.today.and.totally.understand.the.systems.used.to.handle.patient.records ...Even.after.over.a.century.of.technological.advances,.every.patient.generates.a.long.and.lengthening.paper.trail .. Moving.to.an.electronic.system.isnt.just.trendy,.its.critical.to.your.business ...The.overhead.associated.with. maintaining.paper.records.is.quite.literally.burying.many.practices.in.lost.hours,.inaccurate.reporting,.and.inefficiency ..A.practice.with.centralized.charts.and.multiple.locations.can.count.on.chart.pulling.and.transportation. costs.of.five.dollars.or.more.per.record .. Washington.DC.has.made.it.clear.that.significantly.upgrading.the.medical.record.systems.across.the.country.is. a.huge.priority ..Why?.The.better.to.track.and.control.costs ..And.it.is.now.offering.carrots.(in.the.form.of.bonus. payments).as.well.as.sticks.(in.the.form.of.cuts.in.reimbursement).So.if.youre.not.already.using.EMR.software.in. your.practice,.nows.clearly.the.time.to.start .. Now.understand.implementing.an.EMR.system.changes.everything .. Literally.every.aspect.of.your.practices.procedures.and.protocols.will.be.affected ..In.essence,.its.like.starting. from.scratch ..None.of.the.standard.procedures.and.assumptions.your.staff.has.relied.on.up.until.this.point.will. still.hold.true.after.your.new.system.is.up.and.runningand.that.reality.has.to.be.factored.in.the.. planning.process .. If.yours.is.a.new.or.small.practice,.you.have.the.advantage.of.flexibility.in.adapting.to.how.your.new.EMR.system. works ..Larger.practices.will.most.likely.want.to.customize.the.EMR.system.to.some.degree . 2007-2008 www.medicalpracticetrends.com
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However,.long.before.the.boxes.of.hardware.show.up.on.your.doorstep,.you.and.your.staff.should.be.working. together.to.devise.new,.better.ways.of.working.once.the.system.is.fully.installed ..Take.a.good.look.at.your.workflow.and.draw.out.some.process.maps..once.again,.you.cant.manage.when.you.dont.measure ..Look.for.inefficiencies ..Just.because.youve.always.done.something.the.same.way,.doesnt.mean.it.cant.be.done.better .. Vendors.of.EMR.products.seem.to.appear.daily,.each.with.compelling.claims.of.cost-efficiencies,.product.features,. and.ease.of.implementation ..Trust.me,.move.carefully ..Implementing.a.full-blown.EMR.system.will.require.a. significant.investment.of.money.and.time ...Dont.be.too.hasty.in.choosing.a.vendor ..This.is.a.critical.decision.and. one.youll.have.to.live.with.for.years ... In evaluating EMR software product vendors, you should look for the following: 1.. The.vendor.should.have.at.a.least.a.moderate.market.presence.-.you.dont.want.to.be.up.and.running.. . . with.your.EMR.system.only.to.find.out.that.the.vendor.went.out.of.business . 2.. The.EMR.program.should.already.be.working.in.the.field ...Dont.go.with.a.just-released,.untested.product... . .this.is.an.almost.certain.recipe.for.disaster . 3.. Strongly.consider.an.integrated.platform;.i .e .,.a.system.that.contains.both.EMR.and.EPM.(practice.. . management).software ..This.can.avoid.a.lot.of.finger.pointing.when.there.is.a.problem . 4 .. Finally,.the.vendor.should.have.some.experience.in.creating.software.for.your.particular.field ...Make.sure.. . to.ask.for.references.of.existing.installations.so.you.can.get.first.hand.accounts.of.how.the.software.. . . worked.for.their.practice .. Theres.a.lot.more.to.a.successful.EMR.installation.than.just.the.software.and.hardware ..You.must.get.your.entire. staff.on.board.as.well ..The.surest.way.to.doom.your.EMR.implementation.project.to.failure.is.to.impose.it.on.your. staff.with.no.prior.discussion.or.consultation ..Its.perfectly.normal.for.people.to.resist.change,.and.the.prospect. of.transforming.every.aspect.of.the.offices.standard.workflow.is.bound.to.be.a.bit.overwhelming .. . You.need.to.persuade.your.staff.that.implementing.EMR.is.the.best.course.of.actionnot.only.for.the.practice. as.a.whole,.but.also.for.each.individual.staff.member ..Solicit.input.as.to.what.type.of.system.they.think.would.be. most.beneficial ..With.your.staff.on.board.every.step.of.the.way,.its.much.more.likely.that.youll.be.able.to.maximize.your.return.on.your.technology.investment . And.lastly,.in.making.the.changeover.to.an.EMR.system,.do.some.upfront.planning.and.take.the.process.in. manageable.phases ...Even.with.a.plan,.things.will.not.go.smoothly.start.to.finish ..Setbacks.and.problems.are.an. inevitable.part.of.any.technology.change.effort ..Before.you.go.live,.have.multiple.contingency.plans.in.place.in. case.of.system.failure .. An.added.benefit.of.an.EMR.system.is.one.of.internal.marketing:.it.gives.your.practice.the.impression.of.being. state.of.the.art ..Dont.believe.it?.What.if.you.walked.into.a.doctors.office.and.they.were.making.appointments. on.a.paper.calendar?.And.writing.receipts.on.a.carbon.paper.ledger?.Wouldnt.seem.very.high.tech,.would.it? Although.it.will.likely.be.a.significant.investment,.moving.to.an.EMR.system.is.a.unique.opportunity.to.rebuild. the.way.your.practice.runstake.all.the.time.you.need.to.make.it.better!

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STRATEGY #3 Keep Your Existing Patients Happy

Master.marketer.Jay.Abraham.makes.the.claim.that.there.are.only.three.ways.to.grow.any.business:

1. Get new clients 2. Sell more to existing Clients 3. Increase prices

Too.many.businesses..medical.practices.included..focus.almost.solely.on.getting.new.clients.(or.patients) ...We. tend.to.put.all.our.attention.and.resources.into.generating.new.leads.and.bringing.in.new.patients . Now.I.certainly.dont.recommend.you.put.a.stop.to.all.your.marketing.efforts.at.bringing.in.new.patients ..I.do. think,.however,.that.all.of.us.are.too.prone.to.overlook.the.opportunities.available.in.the.customers.we.already. have ..And,.yes,.it.is.best.to.think.of.them.as.customers,.not.merely.patients ..Because.in.addition.to.having.their. problems.solved,.patients.are.also.looking.for.a.satisfying.experience.and.great.customer.service . Think.about.it ...Its.a.lot.easier.to.get.an.already.satisfied.customer.to.do.more.business.with.you.than.someone. who.has.no.knowledge.of.you.whatsoever ...A.patient.who.already.has.had.a.great.experience.with.your.practice.and.its.services.is.clearly.more.inclined.to.come.back.over.and.over.again,.as.well.as.to.recommend.you.to.a. friend . Clean Up Your Coffee Stains Coffee.stains,.according.to.John.Pinto,.of.Pinto.&.Associates,.can.be.literal.or.figurative ..These.are.the.little,. sometimes.subtle.things.that.make.a.big.impression.on.patients ..And.this.is.part.of.what.is.known.as.internal. marketing . Have.you.ever.been.to.another.doctors.office.and.noticed.a.splotch.on.the.waiting.room.carpet?.Well,.anybodys. office.can.have.an.occasional.coffee.stain . But.what.if.it.is.there.the.next.time.you.visit?.And.the.next?.Makes.you.kind.of.wonder.if.that.doctor.ever.washes. his.hands,.doesnt.it? In.short,.a.coffee.stain.is.anything.that.makes.a.patient.have.second.thoughts.about.her.decision.in.choosing.. her.doctor .

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Other.coffee.stains.include.a.rude.front.desk.person,.a.doctor.who.always.keeps.patients.waiting.a.long.time,. filthy.bathrooms,.an.ugly,.outdated.officewell,.you.get.the.picture . So,.clean.or.replace.the.carpet,.fire.that.rude.employee,.and.get.on.your.partners.case.about.his.work.habits. .its.all.good.for.the.bottom.line . Stay In Touch If.you.ignore.your.customers,.you.fall.off.their.radar ...They.tend.to.forget.about.what.a.great.job.you.did.for. them ...And.over.time.they.grow.more.open.to.other.options.for.your.services . Thats.the.reason.its.so.important.to.stay.in.touch.with.your.patients.regularly ..There.are.many.different.ways.to. accomplish.this,.for.example:

Birthday cards Anniversary cards Monthly newsletter

Holiday greeting cards Thank you cards or gifts Gift Certificates

Also,.maybe.even.a.personal.call.just.to.see.how.theyre.doing.after.receiving.services.at.your.clinic ..Is.everything. going.well?..Have.the.results.been.as.good.as.hoped?. In.a.long-standing.practice.tradition,.our.surgeons.call.our.patients.the.night.of.their.procedure.to.check.on.them. .youd.be.amazed.how.much.they.appreciate.that . Let.your.patients.know.you.care.about.them.as.individuals ...Stay.in.touch.with.them ... Then,.when.you.do.send.them.a.direct.mail.letter.or.postcard.or.email.announcing.a.new.service,.they.see.it.as. information.from.a.friend.who.cares.about.them.and.their.well-being ...Not.as.some.kind.of.sales.pitch . So.take.the.time.to.develop.an.ongoing.contact.system.with.your.patients ..Youll.not.only.see.an.increase.in.repeat.business,.youll.also.be.able.to.use.these.personal.touches.to.motivate.referrals.which.is.the.most.effective. way.to.bring.new.patients.to.your.practice . And.speaking.of.contact,.make.sure.that.you.have.a.functional.recall.system,.whether.it.is.an.automated.one.or.a. manual.one.where.you.simply.use.employees.to.mail.cards.or.call.patients.directly ..The.first.thing.a.good.practice.management.consultant.will.do.when.asked.to.help.a.stagnant.practice.is.check.its.recall.system ..This.can. be.a.significant.source.of.lost.patients .

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STRATEGY #4 Turn Down Business

What!? Turn down business?! Trust.me,.this.one.strategy.can.mean.the.difference.between.a.successful.practice.and.one.that.runs.itself.into. the.ground . Its.not.just.the.number.of.patients.you.see.that.drives.your.revenue ..Its.the.quality.of.the.relationships.you. develop.with.your.patients ... Research.has.proven.over.and.over.again.that.the.80/20.rule.holds.true.in.just.about.every.business.operation ... Over.time,.you.may.discover.that.80%.of.your.referrals.and.positive.experiences.come.from.20%.of.your.patients.(and.if.you.have.a.retail.component.to.your.practice,.they.may.even.be.responsible.for.80%.of.its.revenue) .. Conversely,.a.different.20%.of.your.patients.may.be.responsible.for.80%.of.your.problems:.complaints,.refunds,. verbally.abusing.your.staff,.non-compliant,.etc ..In.short,.patients.that.are.just.too.big.a.pain.in.the.butt.to.deal. with ... These patients represent business you just dont need. Think.about.it ..Do.you.or.your.staff.have.the.time.or.energy.to.deal.with.high.maintenance.patients.wholl.never. be.happy.and.never.provide.you.any.referral.business?..When.instead,.you.can.focus.on.the.patients.who.appreciate.what.youve.done.for.them,.come.back.again.and.again.for.more.services,.and.tell.their.friends.all.about. how.wonderful.their.experience.was?.. Those.are.the.kinds.of.patients.you.want.to.be.spending.your.time.and.energy.on .. Im.not.saying.you.should.treat.anyone.with.anything.less.than.total.courtesy,.professionalism,.and.respect ...Not. in.the.least ..When.someone.comes.to.you.for.your.help,.you.have.a.clear.and.total.responsibility.to.work.to.solve. their.problems . However,.you.should.recognize.that,.in.some.cases,.a.patients.needs.could.be.better.served.by.someone.other. than.you ..Look.for.potential.cross.referrals.with.practices.you.get.along.with..and.perhaps.even.those.you.dont. .who.may.offer.a.particular.service.that.you.either.dont.offer,.or.is.not.cost-effective.for.you .. Something.to.think.about . If.you.do.have.to.formally.dismiss.a.patient,.be.sure.to.document.the.reason.(breakdown.in.doctor-patient.relationship,.poor.compliance,.etc .),.give.the.patient.a.list.of.alternative.physicians,.and.tell.the.patient.that.you. are.available.for.emergencies.until.he.is.established.with.his.new.physician .

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STRATEGY #5 Sponsor Charitable Events

Doing.the.right.thing.not.only.feels.good,.its.good.for.business . If.you.let.your.business.operate.according.to.the.lowest.level.in.Maslows.Hierarchy.of.Needs,.youll.always.remain.there ...Sure,.the.bottom.line.for.any.practice.has.to.be.paying.the.bills.and.making.sure.you.and.your.family. get.fed ... You.will.find.real.fulfillment.in.your.business..and.your.business.will.achieve.its.maximum.potential..when. you.start.taking.the.major.step.towards.helping.your.community ...And.one.of.the.best.ways.to.give.back.to.your. community.is.to.take.the.lead.in.sponsoring.regular.charitable.events . Im.sure.that.if.you.spent.five.minutes.you.could.brainstorm.15.to.20.different.local.causes.in.your.community. that.could.use.extra.support.right.now ...Were.all.facing.a.tough.economy ..Many.of.your.own.neighbors.are.struggling ...As.licensed,.practicing.physicians.we.all.feel.an.obligation.to.help.those.in.need ... And.it.will.be.good.for.your.practice.as.well ..How?..There.are.several.reasons .. First.off,.by.sponsoring.events.your.name.and.your.practice.will.get.known.across.your.region.as.one.of.the.key. contributors.to.the.community ...Make.sure.to.let.all.your.patients.know.what.youre.doing.and.how.they.can.participate ...For.example,.it.may.be.clich,.but.you.could.certainly.put.a.giving.thermometer.in.your.clinics.waiting. room ..At.a.minimum,.you.should.create.flyers.about.the.event.and.distribute.them.to.your.patients .. Secondly,.you.should.use.this.event.as.an.opportunity.to.network.with.other.leaders.in.the.community ...Ask.them. for.their.help.in.making.your.event.succeed ...And.dont.forget.to.offer.to.help.them.with.their.programs.as.well. .people.can.always.use.more.volunteers ..By.running.your.event,.and.working.with.others.on.theirs,.you.will. become.part.of.a.local.network.of.public-mined.professionals ...Almost.certainly,.youll.wind.up.building.both. personal.and.professional.relationships.in.the.process ..Thats.definitely.good.for.your.business .... Third,.its.good.for.employee.morale ..Our.staff.has.been.involved.with.major.charitable.events.such.as.the.March. of.Dimes.and.a.Bicycle.Ride.benefitting.the.local.Hospice.clinic ..They.wear.t-shirts.emblazoned.with.our.practice. logo.and.it.is.a.great.source.of.camaraderie.for.all.of.them . Finally,.its.good.karma:.what.goes.around,.comes.around ...Doing.good.for.your.community.will.usually.pay.you. back.in.spades .

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STRATEGY #6 Speak in Public

Another.great.way.to.put.your.practice.on.steroids.is.one.that.most.doctors.never.consider: Go.to.meetings.and.tell.people.what.youre.doing . All.across.your.community,.there.are.clubs,.groups,.and.organizations.that.meet.regularly.for.breakfast,.for.lunch,. and.for.networking ...Lions,.Kiwanis,.Rotary,.Meetup,.LeTip,.Chambers.of.Commerce..just.take.a.stroll.through. the.yellow.pages.or.do.a.quick.search.on.the.internet.and.youll.uncover.a.wide.variety.of.different.opportunities. to.present.what.you.do . Similarly,.you.can.teach.a.course.at.your.specialty.Academy.meeting.on.a.particular.procedure.you.perform.or. some.tips.on.practice.management.for.your.colleagues . Now.if.youre.one.of.those.who.would. rather.be.a.funerals.main.. attraction.than.speak.at.one,.you.probably. should.get.some.training.before.hitting.the. platform ...Dont.despair ..There.are.some. wonderful.programs.out.there ... For.example,.your.local.. Toastmasters.Club.will.give.you.training,. support,.and.plenty.of.chances.to.hone. your.rhetorical.skills ...If.you.dont.have.a.. Toastmasters.chapter.nearby,.find.a.group. of.friends.and.set.up.a.regular.meeting. with.them.to.exchange.tips.on.giving. presentations ...Regardless.of.the.structure,.find.some.safe.and.supportive.venue. where.you.can.practice.speaking.in.front.of. others . Once.youre.comfortable.in.front.of.an.audience,.start.looking.for.opportunities.to.speak ..Your.topic.should.be. something.of.general.interest.to.others.that.they.would.find.useful ... For.example,.if.you.specialize.in.a.particular.procedure,.you.could.create.a.talk.on.that .. Your.talk.shouldnt.be.a.direct.pitch.for.your.services ..If.you.do.that,.you.wont.get.many.opportunities.to.speak. because.groups.dont.invite.people.to.come.advertise.themselves.at.least.not.overtly ...An.event.organizer.for.a. 2007-2008 www.medicalpracticetrends.com
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group.like.the.Rotary.Club.wants.a.speaker.who.has.something.useful.and.interesting.to.offer.to.their.group . Many.speakers.find.it.easier.to.get.scheduled.to.talk.if.they.have.a.book.to.discuss.at.the.meeting ..Being.an. author.lends.an.additional.level.of.credibility.to.your.talk ...It.doesnt.even.matter.if.the.book.was.self-published!.. The.fact.of.having.written.a.book.just.immediately.changes.your.positioning.from.speaker.to.author/speaker . . . . . . Again,.you.might.be.asking,.

Why go through all this effort? .

The.point.is.your.getting.your.name.and.your.message.out.in.front.of.more.and.more.people.in.your.community ... Remember.our.earlier.chat.about.the.importance.of.having.a.USP?..Well,.giving.regular.speeches.to.potential. clients.where.you.show.that.youre.the.local.expert.on.a.specific.topic.clearly.makes.you.the.number.one.choice. for.that.specialty ..With.a.bit.of.self-promotion.via.press.releases,.etc .,.you.could.even.find.yourself.on.the.front. page.of.your.hometown.newspaper ...Wouldnt.a.little.positive.recognition.be.good.for.business?.. So.put.together.a.fun,.fascinating,.and.valuable.talk.on.your.favorite.subject.and.tell.as.many.about.it.as.possible ...After.all,.if.youve.got.something.special.to.share,.you.have.an.obligation.to.let.others.know .

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STRATEGY #7 Develop A Reputation As The BEST Place To Work

And.not.just.for.doctors.either ...Every.staff.member.at.your.practice,.from.nurse.to.receptionist.to.the.kid.who. troubleshoots.your.network..everyone.who.works.in.your.office.should.feel.like.this.is.the.very.best.place. theyve.had.the.pleasure.at.which.to.work . Our.practice.in.central.Florida.employs.nearly.140.full.time.staff.members,.and.our.turnover.rate.is.under.5.percent ..And.the.local.technical.school.tells.its.newly.trained.medical.assistants.that.they.should.apply.to.our.practice.because.it.is.one.of.the.best.places.to.work.in.the.area ..And.no,.we.didnt.pay.them.to.say.that . Each.year.at.our.Holiday.Party,.a.formal.sit-down.dinner.with.dancing,.we.honor.employees.for.their.longevity .. And.we.have.had.several.who.have.been.with.us.for.over.25.years! Having.people.love.their.jobs.and.want.to.stay.isnt.an.accident ..When.the.practice.was.founded,.we.made.the. conscious.decision.to.treat.our.employees.well ...Of.course,.that.means.we.treat.every.single.one.with.courtesy. and.respect ..We.do.not.tolerate.anything.less ...And.were.not.stingy.when.it.comes.to.doling.out.rewards..everyone.gets.profit.sharing.as.well.as.great.benefits.and.a.top.notch.work.environment ..This.is.another.form.of. internal.marketing . I.will.admit,.however,.that.we.do.all.of.this.out.of.purely.selfish.reasons .. Getting.a.job.with.us.isnt.easy ...We.take.the.hiring.process.very.seriously ...We.look.for.top.candidates ..We.do. background.checks ...We.even.call.references ..We.give.second.and.third.interviews . You.need.to.have.not.only.the.right.qualifications.to.work.for.us,.but.also.the.right.track.record.of.quality,.professional.achievement . But.once.you.become.part.of.the.team,.we.treat.you.like.family ...And.why.not?.... Consider.the.cost.of.losing.a.good.employee ...Other.staff.members.have.to.make.up.the.slack.until.a.replacement. is.hired ...Theres.the.time.involved.in.creating.the.classified.ad,.reviewing.resumes,.conducting.interviews,.and. then.making.the.hiring.decision ... Then,.when.the.new.employee.comes.on.board,.they.need.several.weeks.to.several.months.of.training.to.get. anywhere.the.level.of.productivity.of.the.person.they.have.replaced ... So.replacing.a.great.staff.member.can.be.extremely.costly ..

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And.then.theres.the.somewhat.intangible,.yet.very.real,.element.of.atmosphere ...When.your.entire.practice.is. pulling.together,.working.together,.all.for.the.common.good.of.the.patients.and.the.business,.its.just.obvious.to. anyone.who.steps.inside.your.waiting.area ...You.can.read.it.in.the.faces.of.your.receptionist,.your.office.manager,. and.your.IT.guy ...They.like.working.here.and.it.shows . I.once.had.a.patient.tell.me.that.she.was.going.to.have.all.of.her.companys.employees.switch.to.our.practice. after.she.had.visited.us ..Why?.Because.she.was.impressed.with.the.way.our.doctors.spoke.to.our.staff.members . Now.thats.some.powerful.marketing .. You.cant.create.this.kind.of.practice.by.accident.or.overnight ..You.need.to.set.this.level.of.employee.satisfaction. as.one.of.the.core.goals.for.your.business ...Youll.need.to.develop.policies,.procedures,.and.compensation.models. all.around.these.objectives ...So.theres.real.planning.and.real.work.involved . But.the.payoff.to.your.practice.will.be.huge .

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SUMMARY
There.you.have.it.--.the.7.key.strategies.you.can.use.today.to.build.a.successful.medical.practice.even.in.tough. economic.times:

Get.Clear.On.The.Difference.Between.Marketing.And.Advertising Take.Back.Control.of.Your.Practice Keep.Your.Existing.Patients.Happy. Turn.Down.Business. Sponsor.Charitable.Events Speak.in.Public. Develop.A.Reputation.As.The.Best.Place.To.Work

If.this.seems.a.bit.overwhelming,.dont.be.discouraged ..You.dont.have.to.do.all.of.them.at.once ..Pick.one.that. seems.right.for.now.and.then.take.massive.action.to.make.it.happen ...Then.move.on.to.another,.then.another,. and.so.on ..As.the.motivational.writer.Robert.Ringer.says,.Nothing.Happens.Until.Something.Moves . Little.steps,.one.at.a.time,.will.eventually.take.you.and.your.practice.very.far .. And.if.youd.like.some.help.along.the.way,.please.feel.free.to.contact.me ...Thats.why.were.here . . . . Sincerely.yours,

Peter.J ..Polack.MD.FACS

P .S ..For.more.information.about.our.other.services,.along. with.many.free.resources.you.can.use.in.your.practice,. please.make.sure.to.check.out.our.website: 2007-2008 www.medicalpracticetrends.com

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