The grow your practice interesting story...
One evening, a well-known practice consultant and former practice owner, a case manager, a doctor, and the owner of a tech company and marketing agency were having dinner. They were discussing the challenges that doctors had shared with them regarding growing the practices and increasing their earnings.
They listed the top couple of challenges that doctors shared with them that kept their practices stuck in a revenue range with minimal year over year growth. Then created viable solutions for each.
Challenges Facing Practices:
- Too many patients leave treatment early because their pain is gone or the insurance runs out and they aren't actually corrected.
- Case acceptance rate on larger cash cases is too low unless the doctor personally handles every patient education consultation.
- If the doctor handles every patient education session, the practice cannot grow as they can only sit with so many people per day.
- It's very difficult to train staff to close larger cases or properly present reports of findings.
- There's not enough time to create a strong report of findings for each patient, so the practices are often forced to settle for a one page check box document that outlines the treatment program and price.
- Co-decision makers that aren't present at the report of findings stop the patient from seeking treatment too often.
- The front desk is often overwhelmed and can't spend enough time to qualify new patients over the phone. The result is that there are too many new patients that aren't either qualified or prepped properly for day one.
- The no-show rate on new patient appointments is too high.
Do any of these issues sound familiar? Do you face others?
Well, these 4 successful business people came up with solutions to the challenges, and they are working. These solutions work because this group has a ton of experience, owning, consulting, and working with practices.
Here are the Solutions:
This actually handles numbers 1, 2, 3, 4, and 5 above.
- The case manager said that it was hard to convince people of the value of longer-term or high-dollar treatment program without something well written and comprehensive that would make for a great presentation.
- The doctor had great input about what should be in the ROFs, and the time it takes a doctor to deal with this whole process, and that it would be best to minimize the time a doctor needs to be involved.
- The consultant said that patient education on high-value cases, like arthritic knees, spinal decompression or certain non-surgical orthopedic treatments, could be improved with a step-by-step program that walked a patient through their condition, what could happen if they didn't seek treatment, the potential dangers of using drugs or surgery to handle these conditions, the value of the care plan, and more… but it would have to be fast and easy to use.
- The tech company owner said, my team can build that. In a matter of months, with the input of doctors, consultants, case managers, and business owners, the first rendition of the ROF Assistant - originally called the LMN portal, the rapid report of findings builder, was launched.
The reports are quickly created, require no technical understanding, contain testimonial videos, procedure videos, and encompass all that the doctor, consultant, and case manager needed.
The system is inexpensive and is helping integrated practices nationwide close more cases for higher dollars. In addition, the system has helped many doctors train staff so that they don't need to present every report of findings, thus saving amazing amounts of time.
These reports can be viewed by the patient at home so the co-decision maker can see the real truth behind the treatment and become well educated. This also helps control the information that the patient or co-decision maker may use to decide. The Internet is full of misinformation that may not be our friend.
It's far more effective to send an in-depth report of findings to a patient than to give them a page or two that outlines price and services.