3 Cost Effective Strategies to Expand Your Medical Practice

by Brigette Flores | Oct 17, 2016 |
3 Cost Effective Strategies to Expand Your Medical Practice

Grow your Practice, not your Budget!

There’s a world of information about marketing a medical practice. While management software, digital marketing and branding are all valuable tools, budget considerations may leave such methods out of reach for new or flagging medical practices. Fortunately, growth and how to expand of your medical practice can be realized through cost effective strategies, that are sometimes free. Here are 3 cost effective strategies not only to keep the patients you have but to bring in a variety of new business as well:

 1. Improve Patient to Patient Referrals

Patient to patient referrals are a great way to expand your medical practice.   First impressions can make all the difference. A snarky receptionist or a long wait time can sour your relationship before you’ve even met a new patient and will greatly reduce the likelihood of a patient to patient referral.  Next time, ask your patients what you can do better and assure them that their feedback is valuable.  Once you’ve identified a recurring complaint, address it right away.  If you can’t decrease wait times, try making your waiting room more comfortable or keeping patients informed so they can make their own scheduling decisions.

 2. Increase Provider Referrals

Cultivating provider referrals is a great way to bring in new patients and expand your practice.  Reach out to other medical professionals and start developing relationships.  Highlight your level of respect and a desire for mutual collaboration for the patients you both serve.  If possible, identify networking opportunities where you might introduce yourself in person, which will increase the likelihood of follow-through. 

 3. Leverage Local Sources

Targeting potential customers is another way how to expand your medical practice. Any consumer is motivated by convenience.  Make a study of businesses nearby and approach ones with a good employee volume.  Offer to give a presentation on matters that may interest that group. Use company-specific incentives like free health screenings or discounts on services.  Get permission to leave materials in public areas and stress the convenience of your location.

Even if you have unlimited funds, you’ll increase your chances of successfully expanding your medical practice by leveraging your most valuable resources: your current patients, your colleagues and your community.

Need to Ensure Patient Satisfaction? Get a Patient Survey Template for Your Practice!

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