Unlock The Value In Your Healthcare Practice

Before looking externally for sales success, try looking internally

By Geoffrey Cooling

Environmental Forces - influencing competitive...I think we are all agreed that we are in tough economic times. I speak to business owners regularly who are chasing the silver bullet, the answer to their woes. They are all looking for the secret to enticing new Patients, to keeping the through flow in their Practices high. I am often asked about marketing, about new forms of marketing, in fact about any marketing that will drag in business.

One of the things I constantly ask is, “Have you unlocked the value within your Practice?” If your Practice has a legacy of three or more years, there may be a great deal of value locked into it. But how will you know? How can you ascertain whether there is unlocked value within your Practice? Try answering these questions honestly.

Do you have a well designed and structured Patient Journey?

Have you planned and structured each appointment on the Patient Journey?

Do you have a well thought out and structured Patient communication policy?

Have you set out clear strategies to increase Patient retention?

Have you set out clear strategies to encourage Patient referral?

Have you set out clear strategies to increase ancillary revenue within your Practice?

If you have answered no to any of these questions, you will have unlocked value within your Practice. Because each of the concepts I have asked you about depend on the others. By our nature we reach out to new things, we consider driving forward. Particularly when times are tough we tend to look outwards for solutions. Sometimes we forget to assess what we have, to look back or inwards.

Now is the time that you need to take stock of your business, to assess your Practice for unlocked potential. I guarantee you that if you apply modern thought in Practice management. Modern thought in Patient care, Customer care. You will increase your bottom line.

So look inwards to unlock the value within your hearing healthcare Practice



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About Geoffrey Cooling

my name is Geoffrey Cooling and I am the author here at Just Audiology Stuff. I have been involved in the Hearing Healthcare Profession for several years now. I initially worked as a Hearing Healthcare Professional for a large national retailer in Ireland. After several years in Practice I was approached to work for a manufacturer, where I was employed for five years. I am now the Co Founder of a business called Audiology Engine. We design websites, undertake content marketing and generally look after everything digital for audiological practices. I am also a contributor to many hearing profession periodicals and websites. I have written two commercially available books, The Little Book of Hearing Aids which is written for hearing aid consumers and Audiology Marketing in a Digital World which is written for Audiology Practice Owners. They are both available in Paperback and Kindle versions on Amazon. I also write for consumers on the website Hearing Aid Know, which is a website with the mission of demystifying hearing aids, their types and their technology. I have a great interest in commercial strategy as it applies to Healthcare in general and specifically to Hearing Healthcare. I also have a great interest in the psychology of sales and human interaction. I have been involved with social media for some time, both personally and professionally. I find the engagement and discourse on some social media channels fascinating. I instituted social media strategy for the company I worked for as an experiment. That experiment soon spread throughout the company and I am proud to say that the company is probably one of the most active in the industry. I would like to point out that all views, opinions and thoughts here are mine own. Unless of course they have been planted by the pod people, you just can’t take your eyes off the pod people. Those views do not necessarily reflect upon any views or opinions held by my employer, if I ever get another one. I think that our industry is in the middle of a time of huge change, I think that the change will be forced by both internal and external pressure. I think that private Independent Healthcare Practices will have to be smart and lithe of feet in order to meet these changes. I hope that some of my blatherings are of benefit to those Practices, Independent Hearing Healthcare Practices need to survive. I believe that if that occurs it will be of real benefit to Patients. I hope that I, and my writings will play a small part in their continued success.

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