By Steve Buxton
The financial well-being of an occupational medicine practice is directly correlated with the health and welfare of the business community. The struggling economy is putting intense pressure on our customers. How should we proceed from here?
Times like these allow us to take a step back and dispassionately analyze our business model: What do we do well and should keep doing? What should we stop doing? What should we be doing differently?
The following are a few principles that are helpful to keep in mind if we want 2009 to be a successful year.
The first principle is one that just as easily applies to our personal lives; I’m speaking of the value of “prudence.” Ours is a consumer economy, encouraging spending. Virtually all the plans and discussions at the federal level are based on stimulating people and businesses to spend money. However, in times like this, spending wisely or shrewdly should take precedence. We need to determine what we need versus what we want.
The second principle is “service.” Webster’s Dictionary defines service as “an act giving assistance or advantage to another.” We tend to use the term “customer service” in a rather cavalier fashion, or speak of it without focusing adequately on how to carry it out.
We have customers who are genuinely struggling. If we are truly serious about customer service, we should focus on how we can provide assistance to that client to give them an advantage in the marketplace. What can we do as occupational medicine providers to make their businesses more effective, efficient or productive? Fortunately, we provide services that can accomplish all three!
In this regard, I will borrow a theme from my friend Rick Rankin, director of Occupational Health Services at Adventist Medical Center, Portland, Ore.: More than ever, we need to establish our “value” in the eyes of our customers. A similar term is “worth.” Our clients must make choices regarding what they will spend their money on, and to whom they will turn to provide services for them. Just like us, they are inevitably being more discriminating with their spending. We need to convey to our customers the merits of purchasing our services or using our clinic versus another. The ability to provide some form of measurable metrics demonstrating our or worth – the benefit to their business – may be crucial to our longevity.
The third principle or concept is “market share.” Let’s face facts: Our clients will be generating less business for us this year. Many companies are reducing or freezing hiring and/or laying off workers. We can expect to perform fewer physicals and drug screens, and perhaps treat fewer injuries than we have in recent years.
The best way to sustain our current volume, or have a chance to grow this year, is to secure additional clients. It will be up to all of us, not just our sales team, to bring new customers on board this year.
For example, we need to develop our ability to enhance our services from a technical standpoint to improve communication with prospective clients. Another tactic is to examine our existing scope of services and how we can feasibly expand them to create even more of a one-stop shop.
As we all know, with challenge comes opportunity. This type of market and economy may cause a shakeup for more than a few businesses, including ours. Keep your head up, your focus forward and your ears trained on your customers. Good luck!
Steve Buxton is Vice President of Operations for NovaCare Occupational Health Services, based in Philadelphia, Penn., and the NAOHP’s 2008 Professional Achievement Award recipient.
