7 best practices to grow your healthcare business

by Janice Allen
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If you want to improve the efficiency of your healthcare practice, it’s not much different than growing another business. Practices that promote innovation and growth should not be overlooked, although a physician’s skills may seem completely different from those of a business leader. Healthcare is a constantly evolving sector and it is essential to provide care to people in need in an effective and efficient manner. At the end of the day, both require you to understand how to communicate with the customer and how best to meet their needs. Here are seven best practices your healthcare company is likely to overlook:

1. Market your practice

It may seem rudimentary, but marketing isn’t just for ordinary businesses. To grow your practice, it is necessary to do at least the basic amount of marketing so that patients in your area who are looking for a provider are aware of your practice. Your healthcare marketing strategy should focus on providing patients with valuable content and resources in accessible ways using websites, social media, paid advertising, search engine optimization, email marketing, and more. For your marketing efforts to be effective, they must be patient-centric. This means that your efforts should focus on who the patient is, what information is important to them, and building a relationship with the patient.

Related: This healthcare startup grew to 450 employees in 5 years. The founder has 3 important tips for aspiring entrepreneurs

2. Promote a customer-centric environment

Many organizations are not currently set up to accommodate customer involvement in their personal health decisions. Traditionally, decisions about a patient’s health care are largely left to the physician. Consumer-centric healthcare means providers must focus on delivering an experience that keeps customers loyal and provides value. One way to ensure customer satisfaction is to ask patients about their expectations and ask for feedback after their visit so you better understand what’s important to them.

3. Use New Technologies

While you don’t have to rush to buy the latest equipment and technologies in your field, keeping abreast of new practices and what is essential to ensuring your practice remains competitive can improve your business. We live in a technology-driven world, which means patients expect a high-quality, seamless experience. Investing in practices such as telehealth, patient texting, and online scheduling can greatly increase the accessibility and positive experience of your practice.

4. Use social media to connect with consumers

Everyone can see how the internet has changed healthcare by making information easily accessible to patients, but it can also change the way you, as a doctor, interact with your patients. Like any business, a strong online presence can significantly increase consumer interaction and thus revenue. Patients and consumers alike want to connect with your business and understand the value they get when they choose you as their physician. By leveraging social media, you can interact with your audience on a deeper level by providing information about yourself, your practice, and your specialty. Use stories to answer burning questions and post about new practices your company uses so patients can see your work and plan a visit.

Related: Manage a healthcare business? Why patient experience should always be your number one priority

5. Provide excellent staff

It’s common knowledge that a business cannot run well without a great team that gets it all done. Your healthcare practice is no different. Every member of your team will contribute to the patient experience in a positive or negative way. In addition, the relationship between team members forms the basis for the office and determines whether the work will be harmonious or hostile. While you may have found and hired great staff, good training is what really brings the team together. One way to improve your team is to listen to patient feedback. Since your staff is in regular contact with patients, their suggestions are important if you want to improve patient care and satisfaction.

6. Analyze data

Just as any business depends on consumer data to predict buying trends to grow their business, healthcare professionals use data to predict medical trends. Ultimately, business growth depends on forecasting and anticipating needs, and healthcare is no different. Predictive modeling is a statistical technique that uses machine learning and data mining to predict and predict likely future outcomes. For example, by analyzing the data around a simple Internet search for “flu,” health care providers can determine when and where a flu outbreak may occur. This can then be used to better predict caseloads and visits, as well as peaks in care, resources and people needed. It could significantly improve healthcare by making it more proactive.

7. Get Help!

As a physician, you may not be the most knowledgeable when it comes to implementing new and efficient business practices. That’s okay – you can find someone who does! To help you focus on giving your patients the best possible care, outsource these skills by hiring someone who is able to tackle the areas you are unfamiliar with. Perhaps you are not used to the accounting side and cash flow of your business. Hire someone skilled in handling complicated and complex issues related to staffing, financial and legal requirements to support and improve the operations of your practice. Make a plan to outsource repetitive tasks to a third party, such as billing, transcription, scheduling, and marketing. Just as your patients turn to you to improve their health, it’s important that you also have access to experts who can help you improve your practice.

Related: This essential tool is a must for healthcare practices

Running a healthcare practice is like running a business. You need to optimize the customer experience and make sure you can help as many patients as possible. While you perform your duties as a physician, providing a positive and high-quality experience to your patients will keep them coming back!

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