Top-Down or Bottom-Up Strategies for Your Private Practice?

Patients naturally want the best of what you have to offer—and want to be told what’s the best, even if they can’t necessarily afford it right now. Top-down products naturally have a certain emotional appeal, as well as a status attachment. Your private practice is no exception.

One of the key areas that we see private practice owners frequently making mistakes is with the description, pricing, and “feel” of your products and services.

Too often, the tendency is to present in price from the bottom up, rather than the top down.

And too often, this turns out to be very expensive mistake.

Why you might ask? It really comes down to some basic human psychology. Patients naturally want the best of what you have to offer—and want to be told what’s the best, even if they can’t necessarily afford it right now. Top-shelf products naturally have a certain emotional appeal, as well as a status attachment. Healthcare is no exception.

If you think otherwise, not only are you doing your patients a disservice, you’re probably leaving thousands of dollars per year of potential revenues for your private practice on the table.

Another key is just making sure that you have multiple options, so the patient always has a choice. For example, products and services typically should have an A, B, and possibly C version. The A version would be your absolute best; the C would be a viable lesser-priced option.

Finally, the key to making this all work is to make sure that every team member is educated as to what exactly constitutes is included in each package of care. It’s also imperative that where legal to do so, you publish for all to see. Make sure that any appropriate disclaimers such as “this is a non-covered service” and “your ABN applies”, et cetera.

Also, be sure to include the forms of payments that you commonly accept. Make it easy for your patient to assume the services they desire!

Above all, make sure whatever you are marketing and representing in your office is top-down, completely compliant with your state and federal regulations.

The most important thing is to always make sure you know precisely what your private practice demands in terms of products and services.

Go to great lengths to train your staff make to it easy for your patient to be get what they want, and you’ll never want for business!

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