Today’s business climate does not look or feel anything like it did 20 years ago. Many physicians are attempting to transition or start practices with a focus on cash pay, aesthetic patients with much less of a focus on insurance patients. While the thought behind this is logical, the application often falls short of the concept.
Physicians with a focus on the aesthetic market have to approach their practice as a business if they want to thrive in today’s market. Aesthetic patients must be treated not just as a patient but as a customer. Because they are spending their own hard-earned money and not being referred by an insurance company, they will shop your services in the exact same way they make other expensive buying decisions. They will read multiple online reviews, ask friends, price shop, etc., all with a myriad of factors influencing their decision. If you do not understand this process and do not tailor your business plan to attract these patients, your practice will never thrive regardless of how good you are as a physician.
Targeting and Planning
Competition is fierce and the focus you must have on reaching your target demographic must be razor sharp. What is your PPC/SEO strategy? How do you plan on negotiating and evaluating your advertising? What are the key components to choosing the proper software, support, & EMR for your practice? What is your plan for developing a payroll and benefits solution that fits your business now and can grow with it over time?
Our clients have seen tremendous success with our Practice Launch Solution. The number of factors that are missed when a physician attempts to do everything on his/her own is staggering. How will you measure your marketing efficiency? What steps will you take to ensure that leads to your office are followed up on effectively to convert those into patient appointments? How will you train your staff effectively to ensure that the patient experience at your practice is one of excellence? What procedures will you have in place to ensure consultations are converted to cash-paying patients? Additionally, the process of hiring and training a staff is exhausting.
If you are a plastic surgeon, you should be considering your own operating facility within your practice. It is much less expensive than many think, and the return on investment in a aesthetic practice is substantial. Who will handle accreditation of this facility? As aesthetic plastic surgery is a reputation- heavy market, what steps will you take to proactively manage your online reputation? What will you do if an unsatisfied patient begins posting negatives all over the web? How will you handle anesthesia services and contract negotiation to keep your operating costs down?
All of these questions are concrete steps that must be taken when starting a practice. The difference in the way your practice appears to your patients, feels to your employees, and performs among your peers relies on whether you proactively plan for all of these components of your business. Thriving practices do not just happen and you cannot allow yourself to believe that being a good physician is enough in today’s market. Many excellent physicians have practices that are struggling to survive because they do not understand the economy of aesthetic medicine and how it has evolved.
Vision’s Practice Launch Solution addresses each detail mentioned above and more. We start by assisting in site selection based upon economic demographics to ensure your practice is centrally located among clients who can afford your services. We work with you to ensure a smooth, patient friendly layout that provides a calm and confident environment. We assist you in hiring and training a competent staff that will be an extension of your vision. We ensure your pricing is competitive with your market and manage the accreditation of your facility if applicable. An in-depth launch strategy is developed including your website, SEO, online reputation management, and advertising pertinent to your market. Finally, we help you structure your lead management system to ensure timely follow up of all patient leads to ensure maximum patient pull-through and sales.
In short, we prepare your practice not just to provide excellent clinical care to your patients, but also to thrive financially.. By planning efficiently, you can obtain the standard of living and job satisfaction you have dreamed of since you began your training.