Every medical practice should have an accountant, specifically, a certified public accountant (CPA). Your CPA should not only do your taxes each year, but also provide you with financial statements on a regular basis. I’d recommend reviewing your profit and loss statement and your balance sheet with your accountant on a monthly basis. Don’t try [...]
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In my previous blog post, I discussed how even though we are in an age of electronic media, direct mail can still be an extremely profitable way to acquire new patients for many healthcare specialties. One important factor is to use a reputable list compiler to provide you up-to-date data and utilize the many demographic [...] Many physicians, dentists, audiologists, and physical therapists, have Curriculum Vitaes (C.V.’s). These “resumes” typically list their credentials and experience including education, any board certifications or fellowship training, and specialized experience. But, can a C.V. really be compelling as a marketing tool? Does a patient really care where you went to school? Most patients want to have [...] It’s important to be first. We typically remember who won the Super Bowl, but rarely do we remember who lost. Take the Olympics, many people will remember the gold medal winner for an event, but typically forget who won the silver or bronze. This is especially true for marketing. Your marketing efforts should place your [...] All businesses, medical practices included, go through various growth stages. New medical practices in their “formative” years can experience significant growth, but often plateau before reaching the next level. This plateau is referred to as a “nexus point”. Even mature medical practices in their “normative” years reach a plateau. This is especially true when trying to [...] Sometimes patients don’t get the clinical results that they want, no matter how experienced or skilled their doctor is. Unfortunately in medicine, it’s not always an exact science, whether it’s a cosmetic procedure or a matter of life and death. Last Friday, my wife and I made the difficult decision to put our 14 ½ year [...] Is marketing risky? Sure it is. There are two basic things that you have at risk if you don’t market effectively. The first risk is your investment. If you do it ineffectively you can spend a lot of money and not get a good return-on-investment (ROI). The second risk is to your reputation, affecting both your [...] The biggest concern I get from clients is that they don’t want to do anything to hurt their reputation. A doctor’s reputation is usually their greatest asset, so you certainly don’t want to do any marketing that could damage it. I’m often asked, “Is marketing my medical practice ethical?” and if so, “How can I [...] Many people make their New Year’s resolutions this time of year. What will YOU do differently next year? If your practice is not where you want it to be, you may want to make a list of things you’ll do differently to market your practice next year. Remember that you can’t do the same things [...] I’ve received a lot of questions about how to use a Practice Rep or “Medical Practice Liaison” effectively to build medical referral sources. The Practice Rep’s main function is to personally meet with the doctors and staff of other medical practices on your behalf, in order to establish credibility and build trust. Ideally, your Practice [...] |
    
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