Medical Practice Management
Oct 02

Physician Practice Marketing

Before you can market your healthcare practice effectively, you have to be sure you have a solid strategic foundation. Unfortunately, many healthcare providers and professionals have never received training in how to think about business strategy. Here are some questions to ask yourself about your healthcare practice…………..

1. Define the marketplace for your services, including potential patients, competitors, and referral sources. What is your share of the market? What could it be?

2. Define who your patient is, and who your patient is not. How are your patient needs changing?

3. Describe the payer/reimbursement environment? How can you increase your leverage and improve your payer mix?

4. What services do you offer? Is this the optimal mix?

5. What is your financial profile? Where are you making the most money? Where are you losing money?

6. Where do your patients come from? What are opportunities to get more patients from those sources? From other sources?

7. What threats could hurt your practice (i.e., reimbursement changes, new entrants, etc.)?

8. How is the patient’s experience of your practice? What is your brand promise to patients and referral sources, and do you keep that promise?

9. Is your location and retail presence helping or hurting you?

10. What is the edge that sets your practice apart? What is your proof of this edge?

11. How is your relationship with the local hospital(s)? How can you gain more leverage and benefit from this relationship while providing value back?

12. How do you describe your practice to others? Is your message compelling?

13. How do you get visible in the community? What is working and what else should you try?

The above questions are only a start. There is so much more that you should be thinking about when you market and grow your practice. To learn more, you might want to check out this program: www.healthcaremarketinginstitute.com

About Reed Tinsley, CPA

As a top advisor to physicians, I help increase practice profits by delivering hands-on, expert medical accounting/tax support, practice counsel, and revenue-building strategies. Read more →