AESTHETIC SERVICES PRACTICE PRODUCTIVITY PLAN
Also known as a Marketing Plan!
The Road Map You Need to Grow Your Business
A marketing plan is revenue orientated.
- Is your marketing plan producing revenue?
- Do you know your Return on Investment (ROI) for your marketing programs?
- Have you determined the cost per lead? Cost per consultation? Cost per closed procedure/surgery?
It’s time to develop a Practice Productivity Plan for the next six months to one year. Critical to success is to hold a staff retreat so that all employees are aware of your strategic business goals, objectives and revenue projections!
What a Practice Productivity Plan Can Do For You
- Provide clear strategic direction to accomplish goals and objectives.
- Establishes benchmarks for profitability and staff productivity.
- Reduces confusion in your practice for your staff.
Practice Productivity Plan 7 Major Components
1. Executive Summary (Major findings and action steps)
2. Data/Research Analysis
a. Marketplace/Industry Trends (Analysis of market trends, determination of market direction and growth projections, potential patients, revenues and profits. Return on investment, identification of funds needed to finance and sustain growth; i.e., cash flow, lenders, revenue Take into consideration equipment needs (medical, surgical and office based such as EMR, patient database management, telephone, etc).
b. Practice, Patients & Services List of providers, services and procedures mix, patient volume statistics, reimbursement mix (if other than cash), top surgical revenue producing services, top non-surgical revenue producing services, top ancillary providers revenue producing services.
c. Marketing program performance: Patient Inquiries, Closure & Retention (Geographic source of patients, referral sources, converting inquiries into consultations, converting consultations into on-going patient or procedures/services/surgeries) Analysis of marketing program’s performance.
d .Target Markets (Determination of target markets (current and future), which groups can you grow, target market segmentation and niches, patient characteristics, demographic profiles, community assessment)
e .Competition (Competitor’s profile, marketing presence, strengths and weaknesses, mystery shopping)
3. Marketing Vehicles
a. Marketing Strategies (Identifying practices’ uniqueness, branding, positioning statement, and promotional strategies tied to your target markets)
b. Marketing/Promotional Programs -External (Advertising campaigns and vehicles, print, Online/Internet, programs, public relations, joint marketing with vendors/ Social Media, and more)
c. Marketing/Promotional Programs -Internal (Active Patients-of-record, past patients-of-record, friends/family, staff, deputizing to become active referrers, communications programs, loyalty and incentive programs)
4. Marketing Budget (Establishing, guidelines, segmentation, cost effectiveness, shifting costs, recouping cost, impact of price/cost variables, return on investment (ROI)
5. Personnel (Staff composition/number, ancillary providers, job descriptions, practice flow/management, team building, staff training in closing consultations, marketing program implementation, office manager training, communication techniques)
6. Patient Satisfaction and Protocols (Scheduling, follow-ups, reminder systems, patient satisfaction, patient compliant resolution, patient referrals, online reputation management)
7. Results, Tracking & Monitoring – A Must DO!