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

Geoffrey Cooling is an Irish hearing care blogger and the author of The Little Book of Hearing Aids and Audiology Marketing in a Digital World. He has been involved in the Hearing Healthcare Profession since 2007 when he qualified as a hearing aid audiologist. He has worked in private practice and for a major hearing aid manufacturer. He has become recognised as an authority within the field of hearing care and hearing aids.

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