3 Critical Steps in Growing Your Healthcare Practice

Today, healthcare practices have the same needs as regular companies. They need to grow. If you don’t grow, you shrink, because costs continuously go up and, in the case of healthcare, reimbursements will continuously go down. Most healthcare practices know that they want to grow, but most don’t know how. Sometimes they have a vague idea, but very rarely do they have a clearly defined strategy with a structured plan on how to accomplish their strategic growth objectives.

Most of our clients are healthcare providers and over the past 8 years, I have seen a lot of commonalities. The following list addresses some of the essential needs that every healthcare practice should be concerned about:

Have a Plan for Growth

Sound funny? Not at all. Don’t mistake an idea for a plan. The first step you have to go through with your practice is to create a strategic growth plan. This plan should be focused on the following:

  1. Identify your issues, challenges and problems. Don’t short-cut this process. Be honest with yourself. Have all the stakeholders in the company involved and most importantly, agree on the issues, challenges and problems. There is no possible way for you to have a practice growth strategy without agreeing on the issues at present. If you don’t agree on the issues, how can you agree on what you need to be done in order to grow?
  2. Strategic objectives: Once you have identified the issues, define your strategic objectives. Try to categorize them into short-term (12 months), mid-term (1-3 years) and long-term (>3 years) objectives. The purpose of defining the objectives early on is that, regardless of the operational issues you may face, your objectives should remain the same. Clearly defining your objectives will help you to stay focused on what you need to be done.
  3. Identify the opportunities: Before focusing on how you can get all of this done, take some time to identify the concrete opportunities that you want to realize. Make sure you focus on the opportunities that are aligned with your strategic objectives.
  4. Create a plan: The plan should be the last step and should address the following key aspects:
    • Identify projects, tasks and activities that need to be done.
    • Create timelines. Commit as a group to concrete delivery dates. Be realistic and don’t over-commit. Many plans fail because the timelines or expectations are not realistic.
    • Identify resources that are involved and, most importantly, define responsibilities. Who is doing what?
    • Lastly, create a schedule where the key stakeholders of the company meet, measure and monitor progress.

Create a Marketing Plan

There is no growth in healthcare without marketing. Unfortunately, too often the majority of marketing dollars are wasted on “feel good marketing” (these are marketing activities that make you feel good that you did something, but they are very ineffective … e.g. put a ad in the local paper). For effective healthcare marketing, there is a very strong likelihood that you won’t have all the needed skills in-house. At a minimum, you should have to have the following:

  • Excellent web capabilities: You will need the agility to quickly make changes to your website and react to needs, news and other necessities, all while maintaining a professional appearance.
  • Search Engine Optimization (SEO): If you don’t have a serious SEO effort, you will struggle to have a meaningful presence in Google’s search results. SEO requires considerable knowledge of search engine function and ongoing education as search algorithms constantly update. Running your practice and keeping your website up to date with the latest SEO practices will require expert help.
  • Search Engine Marketing (SEM): SEM is one of the best return-on-investment marketing activities available to you. If you don’t do SEM, you are missing out and are giving away business to your competition.
  • Creative Services: The need for ongoing creative services in an average healthcare practice that look professional are more then most people would think: forms, business cards, presentations, brochures, signs, ads, flyers, posters, etc…
  • Marketing Campaign and Project Management: Most practices fail making progress with any meaningful marketing efforts because they don’t have anyone with the ability to coordinate and execute a successful marketing campaign.

If you are like 90% of healthcare providers, you don’t have staff that can provide you with these services and don’t have the experience. Make sure you find trusted professionals that can help you with these things. Try to minimize the vendors (not more then 2, better if just 1) since there is a lot of coordination and collaboration necessary between all the different areas.

Create a Budget

Equally important in order to succeed with your growth is setting a realistic budget. Unfortunately, as with the other two points, most healthcare practices don’t create budget line items for some of the most crucial things in their business. Instead, many healthcare practices do a lot of ad-hoc spending and as a result, they either overspend or don’t spend at all. Both often result in failed objectives. Here are some suggestions in putting together your budget:

  • Make sure you have a line item for marketing. If you are afraid of spending too much in your budget for marketing, add up everything you spent last year and look at the number and see if it can support all your initiatives.
  • Marketing is a marathon, not a sprint. I would rather recommend going with a smaller budget, but committing to it for the long-term.
  • Be realistic. Make sure that your expectations are in alignment with your budget and your strategic goals and objectives. If your goal is that everybody in a 20-mile radius around your location should know your brand and your budget is only $20K per year, you are being unrealistic.

If you follow these three crucial steps, your practice will be in better shape than it is today and you will have a competitive advantage over your competition, because they struggle with the same challenges. That’s a promise that is based on many years of experience in creating growth in healthcare companies.

Leave a Comment

Your email address will not be published. Required fields are marked *

Our Partners

partners
facebook marketing partner
google partner
shopify logo
hubspot partner program

Home Office

Phone

European Office

Agentur Webfox

Berlin, Germany

Join Our Newsletter!

@ 2023 Points Group / All Rights Reserved

Privacy Policy

This Privacy Policy governs the manner in which Points Group, LLC collects, uses, maintains and discloses information collected from users (each, a “User”) of the https://www.pointsgroup1.10web.me website (“Site”). This privacy policy applies to the Site and all products and services offered by Points Group, LLC.

PERSONAL IDENTIFICATION INFORMATION

We may collect personal identification information from Users in a variety of ways, including, but not limited to, when Users visit our site, subscribe to the newsletter, respond to a survey, fill out a form, and in connection with other activities, services, features or resources we make available on our Site. Users may visit our Site anonymously. We will collect personal identification information from Users only if they voluntarily submit such information to us. Users can always refuse to supply personal identification information, except that it may prevent them from engaging in certain Site related activities.

NON-PERSONAL IDENTIFICATION INFORMATION

We may collect non-personal identification information about Users whenever they interact with our Site. Non-personal identification information may include the browser name, the type of computer and technical information about User’s means of connection to our Site, such as the operating system and the Internet service providers utilized and other similar information.

WEB BROWSER COOKIES

Our Site may use “cookies” to enhance User experience. User’s web browser places cookies on their hard drive for record-keeping purposes and sometimes to track information about them. User may choose to set their web browser to refuse cookies, or to alert them when cookies are being sent. If they do so, note that some parts of the Site may not function properly.

HOW WE USE COLLECTED INFORMATION

Points Group, LLC may collect and use Users personal information for the following purposes:

  • To improve customer service
  • Information you provide helps us respond to your customer service requests and support needs more efficiently.
  • To personalize user experience
  • We may use information in the aggregate to understand how our Users as a group use the services and resources provided on our Site.
  • To improve our Site
  • We may use feedback you provide to improve our products and services.
  • To run a promotion, contest, survey or other Site feature
  • To send Users information they agreed to receive about topics we think will be of interest to them.
  • To send periodic emails
  • We may use the email address to respond to their inquiries, questions, and/or other requests. If User decides to opt-in to our mailing list, they will receive emails that may include company news, updates, related product or service information, etc. If at any time the User would like to unsubscribe from receiving future emails, we include detailed unsubscribe instructions at the bottom of each email.

HOW WE PROTECT YOUR INFORMATION

We adopt appropriate data collection, storage and processing practices and security measures to protect against unauthorized access, alteration, disclosure or destruction of your personal information, username, password, transaction information and data stored on our Site.

SHARING YOUR PERSONAL INFORMATION

We do not sell, trade, or rent User’s personal identification information to others. We may share generic aggregated demographic information not linked to any personal identification information regarding visitors and users with our business partners, trusted affiliates and advertisers for the purposes outlined above. We may use third party service providers to help us operate our business and the Site or administer activities on our behalf, such as sending out newsletters or surveys. We may share your information with these third parties for those limited purposes provided that you have given us your permission.

THIRD PARTY WEBSITES

Users may find advertising or other content on our Site that link to the sites and services of our partners, suppliers, advertisers, sponsors, licensors and other third parties. We do not control the content or links that appear on these sites and are not responsible for the practices employed by websites linked to or from our Site. In addition, these sites or services, including their content and links, may be constantly changing. These sites and services may have their own privacy policies and customer service policies. Browsing and interaction on any other website, including websites which have a link to our Site, is subject to that website’s own terms and policies.

CHANGES TO THIS PRIVACY POLICY

Points Group, LLC has the discretion to update this privacy policy at any time. When we do, we will revise the updated date at the bottom of this page. We encourage Users to frequently check this page for any changes to stay informed about how we are helping to protect the personal information we collect. You acknowledge and agree that it is your responsibility to review this privacy policy periodically and become aware of modifications.

YOUR ACCEPTANCE OF THESE TERMS

By using this Site, you signify your acceptance of this policy. If you do not agree to this policy, please do not use our Site. Your continued use of the Site following the posting of changes to this policy will be deemed your acceptance of those changes.

CONTACTING US

If you have any questions about this Privacy Policy, the practices of this site, or your dealings with this site, please contact us at:

Points Group, LLC

https://www.pointsgroup1.10web.me

150 Morristown Road, Suite 220

Bernardsville, NJ 07924

This document was last updated on July 24, 2014