MANAGEMENT STRATEGIES
EVOLUTION, NOT EXTINCTION
In Part 2 of this article, we look at marketing strategies that help you break the mold to ensure you thrive in today’s new normal
BY TOM BOWEN
Last month we talked management strategies and how to implement new initiatives to leverage today’s opportunities. So, now let’s talk marketing (my favorite subject).
DEVELOP THE BRAND
There is still a very important place for external marketing. This includes your Internet practice, which is basically three forms of interaction: your website, social community, and ecommerce solutions.
The key to all external marketing is the brand. Be deliberate about your brand, and how it causes and retains perceptions in patients and potential ones. If you haven’t updated branding, or done brand extensions, now is the time.
Here are some key marketing initiatives that will enable you to grow and thrive.
TIME
WHAT. Spend better time with your patient.
WHY. It’s not about how much time you spend, it’s about how you spend it. As revenues trend lower with more third-party plans, remember that patient quality of life (your mission) and practice revenues are directly proportionate.
HOW. Whether it’s evolving your staffing model, utilizing equipment and technology, or changing how you schedule, figure out how you can free yourself up to spend more time on the biggest difference-maker of all—direct and detailed treatment discussions and recommendations.
FEEDBACK
WHAT. Engage your patient with diagnostic feedback.
WHY. It’s hard to think of a more important use of doctor time than direct conversation with patients regarding what we see and when we want to evaluate it again relative to changes that will occur.
We are certain that changes will occur. What remains uncertain (and the reason it’s so important we do the eye health evaluation again in a set time) is whether those changes will be as we expect them. And, if they aren’t, how will we know and what will we do?
HOW. Challenge yourself to be more specific with every patient in this kind of feedback, and make the case for active retention. The patient should hear directly from the doctor regarding exactly when—and how often—you need to evaluate a specific condition again. My take? At least five times, and preferably 10.
RETENTION
WHAT. Be totally involved in the next exam. Look at your recall success rate on first patient contact. Knowing the exact number is a management thing. Impacting the result is a marketing thing.
If this metric is below 50% (I prefer 80%-plus), you’re definitely not controlling your retention the way you need to in these times.
WHY. So many colleagues talk about growth in terms of getting more people through the door, when the real key is not that at all. It’s maintaining the right active rate for patients you already have! Like most issues of patient retention, this one falls on the doctor.
HOW. Strategies like diagnostic feedback and pre-scheduling are doctor strategies, not staff strategies. When the doctor is not completely engaged with the patient in these strategies (and in totally specific ways), retention and active rate outcomes suffer. And that puts unnecessary pressure on the new patient metric.
Think about it: If you’ve been in practice five years or more with 20% new patients, you should be booked solid. If not, it’s not a new patient issue, and it should be an easy fix—retention!
RELATIONSHIP
WHAT. Teach patients the importance of your relationship.
WHY. I’ve sat in too many exams where the doctor released the patient without mention or development of a relationship. Patients see what you do, but in these competitive, commoditized, and regulated times, they also need to know you value your patient relationships.
HOW. Patients live in a world where healthcare relationships are yielding to gatekeeper orders, and they need to know you’re all about life-long relationships despite trends in healthcare. How they love hearing this! It is a marketing rule: If you want someone to know something, tell them!
RECALL RATE
Q: What is your recall success rate on first patient contact?
A: Knowing the answer is a management thing. Impacting the result is a marketing thing. If this metric is below 50% (I prefer 80%-plus), you’re definitely not controlling the outcome the way you need to.
SCOPE & REACH
WHAT. Fully realize your scope of practice, and work on evolving a high-end niche.
WHY. All those battles fought for diagnostics and therapeutics are certainly coming home to roost. Combine that growth with frame lines and premium lens products that patients really want. People will buy what they want, not just what they need.
HOW. Make the most of who and what you are for your patients. If you haven’t already, expand your offering to include the full scope of medical optometry. And look at premium products as what they are—treatment recommendations, not luxuries.
All of this is more effect-and-cause than cause-and-effect. So, answer these two key questions: What effect do you want to have on people so they understand your brand (and extensions such as subspecialties)? What evolutions can you make in your brands and branding strategies to cause that? Answer these, and you’ll thrive in today’s new, albeit tougher, normal.
EVOLUTIONARY STEPS
Internal marketing…grow your people
External marketing…grow your brand
Practice growth…focus on current patients
Product offerings…meet wants, not just needs
Tom Bowen is executive vice president and co-founder of the Williams Group, in Lincoln, NE. In Part 1 of this article, he addressed management strategies to ensure business survival.