As the NAOHP consulting group, we often receive inquiries from occupational medicine practices that are experiencing a decline in patient volume and revenue. These well-established practices, once thriving, are now seeing their client base shrink and are understandably looking for solutions. Often, the first request is for help with sales and marketing, but is that the real problem? Have these practices truly examined the internal factors that might be contributing to their client loss?
Here are a few things to consider when a practice is experiencing these issues:
The Lure of Quick Fixes
It’s tempting to jump straight into marketing initiatives. The idea of attracting new clients with a fresh campaign can be very appealing. However, a rush to external solutions can mask underlying issues that are driving away existing patients. As the saying goes, you need to fill the hole in the bucket before trying to pour more water into it.
The Need for Introspection
Before launching a new sales campaign, practices should consider doing some internal analysis. to answer some key questions. It’s important to first look inward at the current state of the practice. Before seeking external solutions, a practice should address critical areas of operation.
- Client Feedback: Have they conducted client satisfaction surveys or sought feedback directly from their clients? How well are they serving the needs of employers in their market? What are their patients saying about their experiences? Understanding client perspectives is essential for identifying potential areas of concern.
- Operational Issues: Are there any problems with internal communication, IT systems, or reporting functions? Do they have the proper systems to track and deliver data? Internal inefficiencies can significantly impact patient experiences and overall performance.
- Return-to-Work Programs: Are they effectively getting injured workers back on the job? What is their approach to workplace medicine? A strong return-to-work program is a key component of a successful occupational medicine practice.
- Market Analysis: How many employees are in their market? What industries are they in? Who is their competition? What is their share of the revenue? Understanding the competitive landscape is crucial for identifying opportunities and threats.
- Financials: What is their revenue prediction? How do you compare with productivity benchmarks? Analyzing financial data helps to identify areas where improvements can be made.
- Staffing: How should you be staffed? Proper staffing is essential for efficient operations and patient care.
- Service Expansion: What are their market opportunities for new or expanded services? Identifying opportunities for growth is critical for long-term success.
Additionally, the practice should consider:
- A review of policies and procedures with a focus on compliance with occupational health standards.
- Interviews with occupational and employee health staff, as well as applicable administrative staff.
- A complete assessment of website content to ensure it clearly communicates the services offered.
By thoroughly examining these areas, a practice can identify the root causes of any issues and develop a targeted plan for improvement. This introspection is essential before embarking on a sales and marketing campaign. Once these internal factors are understood and addressed, a more strategic approach to marketing can be developed. This approach will be more effective as it is built upon a solid operational foundation.
Case Study: A Recently Acquired Practice
Take, for example, a mature practice that recently reached out to us for marketing assistance. The new owners acquired the practice and have seen a drop-off in patient volume and are eager to increase it quickly. While a sales position was considered, they are now looking to marketing solutions. The practice was once a top player in their market, but has seen a decline in revenue after the acquisition.
The problem is not necessarily a lack of marketing, but perhaps some systemic issues that are driving down their revenues. Before aggressively pursuing a sales strategy, it is important to address these issues.
Comprehensive Solutions
In some situations, a comprehensive plan is needed. A successful strategy often includes:
- On-site assessments to evaluate operations
- Market analysis to understand the competitive landscape
- Operational analysis to identify areas for improvement
- Employer surveys to gauge the needs of the clients
- Reviewing policies and procedures to ensure they are up to date
- Ensuring that all aspects of the practice, from front desk to providers, are expertly trained
- Implementation of a sales and marketing plan based on the results of the assessments and analysis
A Phased Approach
Implementing these plans is often best done in phases. Phase 1 may include the on-site assessment, market analysis, and employer surveys. Phase 2 would then implement a sales and marketing strategy based on the results of the first phase. The first month of the sales and marketing plan is often for setup, including obtaining company and contact lists, creating scripts, and setting up a CRM.
Conclusion
When a well-established practice is losing clients, it is crucial to look beyond just sales and marketing solutions. Practices need to take a step back and look internally to understand what is really happening. By listening to clients, analyzing internal processes, and addressing systemic issues, practices can set themselves up for long-term success. A holistic approach will not only attract new clients but also retain existing ones and ensure the practice is thriving. Most programs will realize an immediate ROI from these recommendations.
If you’re looking to get to the root cause of these issues, our NAOHP Onsite Occupational Medicine Program Assessment can help. Our intensive 2-day onsite assessment will provide you with:
- A Market Analyzer that will show you how many employees are in your market, what industries they’re in, who your competition is, and what your revenue prediction could be.
- A review of your Policies & Procedures, focusing on compliance with occupational health standards.
- A thorough Productivity analysis including a P&L review, staffing benchmarks, and visit volume assessment.
- Staff Interviews to understand your team’s experience and identify areas for improvement.
- A Website Content Assessment to ensure your online presence effectively communicates your services to employers.
- An Employer Survey to find out how well you’re meeting the needs of employers in your market.
Our experienced team of consultants will guide you through this process, helping you identify hidden problems, and improve or expand your service line. We have over a century of experience in owning, operating, marketing & sales in occupational medicine, urgent care, employee health and corporate clinics. Contact us today to schedule your assessment and start your journey to sustainable growth.
