Are We in for Economic Turmoil or The Sky’s the Limit?: Part 2

Posted December 06, 2024 in Uncategorized | 6 minute read

Are We in for Economic Turmoil or The Sky’s the Limit? Four-Part Series Blog #2
The 10 Most Important Basics Heading into 2025

Basic #1: Beginning With the End in Mind – Self-Evaluation SWOT Assessment

Starting your journey toward meaningful change in your practice begins with a clear, unflinching look at where you are today. A SWOT (Strengths, Weaknesses, Opportunities, and Threats) analysis is an invaluable tool to start the process. But it’s not just a one-person exercise; it requires input from everyone on your team—those who understand the nuances of the practice and who are willing to speak openly without fear of reprisal.

To kick things off, gather your staff and ask them to be brutally honest. It’s crucial that the evaluation includes every facet of the practice—from the skills of the doctor and staff to your office environment and your marketing efforts. This is a comprehensive approach that looks at all angles, and everyone should contribute, knowing that their ideas will be heard.

• Strengths: Start by listing your practice’s A+ qualities. This might include your doctor’s expertise, patient satisfaction, high-quality equipment, location, or top-notch customer service.
• Weaknesses: Now, get real. What areas need improvement? This could range from something as simple as poor parking to bigger issues like outdated technology, slow response times, or overly high pricing compared to competitors. Be specific and detailed in this section.
• Opportunities: Don’t hold back here. No idea is too small or far-fetched. Whether it’s tapping into new treatments, targeting a new demographic, or rebranding your practice, this is where creativity should flow. Remember, even ideas that initially seem off-track might spark something that turns out to be valuable.
• Threats: Finally, take stock of external factors that could be standing in your way. This could include a growing number of competitors, changes in insurance policies, or new regulations affecting your business. Be aware of these challenges, but also think about how you might pivot to overcome them.

Once you’ve completed the analysis, you’ll have a clear map of your practice’s current state and potential paths forward. Key takeaway: Your weaknesses may become your greatest opportunities. Tackling them head-on will position you for success.

Basic #2: Lead Management – Turning Calls into Consultations

A steady stream of incoming calls is an excellent sign that your marketing is working. But if these calls aren’t converting into consultations—and eventually procedures—then you’re missing out on a major revenue opportunity. Many practices assume their staff is adequately trained to handle calls, but often the problem isn’t with the staff’s intentions; it’s the missed cues and lack of proper follow-up.

Every staff member, from reception to the doctor, is part of the sales process. It’s important to remember that these initial calls aren’t just inquiries—they’re opportunities to convert a potential patient. Staff should be trained not just to answer questions but to move the caller through the process and gently nudge them toward booking a consultation.

You may want to consider implementing a clear protocol for handling leads, including:

• Promptly answering calls to avoid losing prospects.
• Using positive language that engages and builds rapport.
• Following up with a confirmation or reminder call ahead of the scheduled consultation.

Remember, it’s not just about filling your schedule—it’s about qualifying leads before they ever sit in front of the doctor. Staff training is key to making this process work efficiently.

Basic #3: Understanding Retail Medicine – The Emotional Decision

In aesthetic medicine, patients aren’t just seeking a service—they’re looking for an experience. Aesthetic decisions are deeply emotional. It’s not like general healthcare, where logic often drives decisions. Here, self-esteem, identity, and appearance play a huge role. This emotional aspect makes the patient experience paramount.

While technical expertise and outcomes are important, what truly drives decision-making is how a patient feels when interacting with your practice. If patients don’t feel heard, validated, and understood, they’re unlikely to return or recommend you to others.

To succeed in retail medicine, focus on the following:

• Personalized experiences: Patients want to feel unique, not like just another number in a waiting room. From the moment they contact your office, they should be treated as individuals, with their needs and desires carefully considered.
• Empathy: Your staff should not only be trained in technical skills but also in emotional intelligence. Handling patient concerns with empathy and understanding goes a long way in building trust and loyalty.
• Creating a connection: The way you present options, the tone of your communication, and even the environment of your practice all contribute to making the emotional connection that patients seek.

Understanding the emotional nature of the aesthetic decision process can dramatically improve your conversion rates, and ultimately, your revenue.

Basic #4: Where Great Customer Service Begins – Phone Skills Matter

The first point of contact with a patient is often over the phone, yet many practices overlook the importance of effective phone skills. In a high-end practice, each phone call can be worth thousands of dollars in potential revenue. A poorly handled call could lead to a lost patient, a lost procedure, and ultimately, lost income.

Your phone receptionists and other frontline staff are your first line of defense in turning a call into a consultation. If they don’t exude warmth, professionalism, and attentiveness, that’s a lost opportunity.

Training your staff in:

• Active listening: Allowing patients to express their concerns fully without rushing them.
• Engaging conversation: Asking the right questions to guide them toward the information they need.
• Follow-up: Providing clear next steps and ensuring they leave with a sense of trust in your practice.

Another factor to consider is the role of the doctor. Even though your staff may be responsible for the majority of patient interactions, your personality—how you communicate and engage with patients—also plays a significant role. Practices with doctors who exude warmth and approachability tend to build stronger relationships with their patients, increasing satisfaction and retention rates.

Conclusion: The Path to Sustainable Success in 2025

As we approach 2025, the key to weathering any economic challenges lies in focusing on the fundamentals of patient care and practice management. By conducting thorough self-assessments, refining your lead management strategies, acknowledging the emotional nature of retail medicine, and ensuring your team is equipped with strong customer service skills, your practice will be well-positioned for growth—regardless of the external climate.

The sky’s the limit when you have a solid foundation built on a well-trained team, clear processes, and an unwavering commitment to exceptional patient care.