Is Your Practice Leaking Profits Into Your Competitors Pockets?

Posted on September 15th, 2016 Category Uncategorized - No Comments

In my years of practice and the past 7 working directly with Doctors and Medipreneurs to help them build and grow their practice by implementing “Trust Based New Patient Attraction Systems”…there is one thing that continues to baffle my mind.

Most become so consumed and enamored by the newest, brightest shiny object and unproven marketing tactics and they throw tons of money at those things…when they’d be way better served to call time out for a short time while they look to find and fix the holes in their practice that are leaking money right out of their business.

Often right into the wallets of their competitors. YES…You do have competitors. Hundreds of them who are constantly looking to persuade, manipulate and grab the attention of prospective patients before you do.

Below I’m going to briefly lay out for you 3 areas I’ve discovered in 95% of practices that you can immediately fix to seal your profit leaking bucket and give you a competitive advantage that can potentially double and triple your profits.

Profit Booster #1: Non-Patient Conversion Follow Up – With the national average of cash case conversions hovering around 30-40%, this is probably one of the BIGGEST area’s doctors can boost profits. Practice Management Consultants teach old school traditional selling that has doctors convinced that if they don’t “close” a prospective patient to care on the spot that day, once they walk out the door, they are gone and lost forever.

So much more money could be generated with a simple, systemized and in some cases automated follow up strategy. If you are truly a patient centered business then your priority should be to get as many prospective patients into your practice in order for you to positively impact there life. Having a way to follow up with individuals that walk away without choosing to pay out of pocket and begin care is by and far one the greatest profit boosting strategies you can implement.

Here’s an actual strategy for you…Incorporate both OFFLINE and ONLINE communication sequences to every prospect that doesn’t convert to care. HINT: Don’t try to defend your solution or sell them further on why they should begin care with you…that will create hidden sales pressure and you’ll lose TRUST. OFFLINE could include a Handwritten Thank You Card that gets mailed that expresses your gratitude for them choosing to seek you out and meet with you. Two weeks later a simple letter that gets mailed out that simply checks in on them to make sure they are doing ok and gives them 3 things to do at home to make themselves as comfortable as possible.

Your ONLINE communication could simply be a series of automated emails that get sent out every week featuring a different patient testimonial. The most powerful testimonials include either a raw video or picture of the patient. First and last name. Age and Occupation. Condition specific testimonials have even more impact. Imagine an unconverted Knee Case that receives testimonial after testimonial, week after week from your office with nothing more than “We hope you’re doing ok. Here’s a patient who was a Knee Pain Sufferer just like you who was skeptical at first but soon found relief. Perhaps you can relate to her journey.

Profit Booster #2: Unconverted Phone Call Inquiry Appointment Scheduling Magnet – Unbeknownst to most clinic owners, their office receives multiple phone inquiries a month from prospective patients that don’t convert to actual scheduled appointments by staff members who are answering phones. If your case average is let’s say…$3000.00…and you lose one new patient a month because your staff failed to schedule a caller to an appointment. That equates to $36,000.00 a year. $4000.00 case averages = $48,000.00 a year in lost money. $5000.00 = $60,000.00 in lost revenue.

The truth is majority of clinics are losing more than one new patient a month by staff not scheduling callers to appointments. So how do you fix this leaky bucket? The biggest mistake clinics make is by telling their staff to “close” harder. This will never solve the problem. In fact the last thing you want your staff to do is to try and convince callers to schedule an appointment once they’ve indicated they aren’t ready to do so.

Instead here’s something that can transform how your staff handles these situations that occur on the phones…

Here’s an actual strategy…Create an information packet that can be mailed out to a prospect that isn’t ready to schedule an appointment. When a prospect indicates to your staff that they aren’t wanting to schedule, instead of trying to close them…simply offer to mail them information in order for them to learn more about who you are and how you may be able to help them. Now you can capture the callers full contact information and gives your staff another opportunity to leave the door open to schedule in the future and now you have multiple ways to future market to these folks. My done for you Shock & Awe Marketing Packageshave solved this hole for multiple offices and the money generated as a direct result is in the tens of thousands of dollars a year.

Profit Booster #3: Referrals – I can say with certainty that 99% of all clinics have absolutely no system in place for generating referrals. Most rely on the doctor asking patients to refer family, friends and co-workers and many doctors aren’t consistent or are too afraid to ask for fear of appearing needy or too salesy. Then there’s those doctors who live in what’s referred to as “The Should Be World”. That’s where things should be just because. Just because you are a nice guy or gal. Just because you have the latest and greatest gadgets, equipment or technique you use. Just because you love your patients up and get them results…they should refer to you RIGHT?

WRONG! Clinics are leaving hundreds of thousands of dollars on the table by not having some sort of referral system in place that automatically occurs every time a new patient signs up for care.

Asking for referrals can boost referrals…but there’s a way more sophisticated and reproducible way to give yourself the opportunity to double and triple the number of referrals you’re currently getting.

Here’s an actual strategy…Recognize and Reward patients who actually refer someone to you. Even if they don’t turn into an actual patient you MUST always somehow, someway RECOGNIZE and REWARD. When you do this the right way what you do is create what’s called the Pavlovian Response to Referrals. A patient who shows themselves to be a potential referrals source will refer multiple times when shown appreciation, gratitude and are rewarded as such.

Click Here to learn how Dr. Beckner is helping Doctors and Medipreneursattract more new patients that pull prospects towards them instead of creating sales pressure that turns prospective patients off.

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