Sweat the assets

Dec 11, 2017

In these trying economic times, with the consumer and business confidence indexes so disappointingly low, the obvious advice to any astute businessperson would be to maximise revenue, aggressively manage expenses and ‘sweat the assets’.

In the medical profession you may argue that your assets only include those items you can ascribe a value to on the balance sheet – and you wouldn’t be entirely wrong. However, I have recognised that there is a very valuable asset that’s being overlooked by many practices – and that’s the client base.

The adage, ‘a bird in the hand is worth two in the bush,’ couldn’t be more appropriate in today’s economic climate and competitive market place. If you’re lucky, your active database is filled with clients who initially chose you as their service provider for various reasons. So now that you have them in your system, what are you doing to keep them coming back for more? And are you doing enough to ensure that they continue recommending you as ‘the best’ to their friends and family?

Your objective should always be to please and delight customers, especially the ones you already have. Any marketing expert will tell you that it is significantly harder to win new clients than to satisfy existing ones.

Work out what you can do to connect with your clients to ensure their continued loyalty. It may be as simple as ensuring a seamless and pleasant client experience across all of your touch points when they interact with your practice.

Are your front office, consulting room and accounts department all delivering the same standard and high quality of service? Are you relying on technology to connect with your clients? Does this facilitate a personalised experience?

The limits of technology

It’s fantastic if both the technology and the human elements can support each other, but don’t rely on technology to do what your experienced team is there to do. They are there to personalise the experience by doing things like remembering a patient’s name when they call, being hospitable when they arrive, ensuring that their details are up-to-date, communicating clearly and simply to avoid misunderstandings – and my personal favourite – managing customer expectations.

If there is anything we can learn from serving the public, it’s that everyone’s time is valuable. If the client has to wait when they arrive, alerting them to this, as early as possible, is simply a sign of respect. There are various ways of managing this, but there is nothing worse than a client rushing to be on time to make a scheduled appointment, only to find that when they arrive they have to spend 30 minutes waiting – without any communication or indication of timing changes that will affect their day.

It’s vital that you constantly examine your client base, interrogate the quality of the information it contains and use every tool at your disposal to make the most of this valuable asset.

Enhance your customer care – get started today

If you’d like more information on how to make the most of your existing client database – and learn how to continue growing a sustainable and popular business, get in touch with Vizibiliti Management Services today.

Vizibiliti Management Services – Success is in sight!

BY ALISON MAYTHAM

BY ALISON MAYTHAM

“There are many different factors that determine the success of your practice – but, as a busy healthcare professional focusing on the needs of your patients, you may not always have the time to focus on the many demanding, and often complex, facets of managing your business. Vizibiliti provides you with easy access to insightful, comprehensive practice and business management solutions and advice across all stages of your business journey – from establishing, growing or closing your practice.”

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