Even in today’s highly online world, word-of-mouth referrals are critical for building your healthcare business. These referrals may come from patients or other doctors and play an important role in both discoverability and patient acquisition. Here’s how your practice can encourage referrals.READ MORE
In medicine, where you practice is just as important as how you practice. Whether you’re looking to buy or lease a space for your healthcare business, choosing the right address matters. Here’s what to know about identifying a competitive location for your practice.READ MORE
Repeat patients are your bread and butter, but new patients are vital to growing your practice – especially in specializations where treatment might be short-term or one-off. It’s more expensive to attract new patients than retain existing ones, so understanding the return on your marketing investment is key to profitability.READ MORE
As a healthcare provider, your goal is powerful patient outcomes while also creating the conditions for both growth and resilience, all in a cost-efficient way. This means shifting from a reactive to a proactive approach to solving problems, especially in light of the rapidly changing healthcare landscape. Here’s how to proactively foster agility and connectivity in your healthcare organization, focusing on areas of meaningful impact – and achieving greater value.READ MORE
COVID-19 saw a shift toward telehealth visits as patients sought to reduce their exposure to the virus – and as changes in government reimbursements made telehealth a more viable option for providers. However, as the pandemic recedes and patients are growing more confident returning to public life thanks to the vaccine and masking measures, providers are experiencing an uptick in in-person visits.READ MORE
Technology has transformed how people interact with almost every industry. Digitization brings convenience, personalization – and increased expectations about the quality of interaction with an organization. This shift has also affected healthcare, with today’s patients expecting the seamlessness and ease of access afforded by retail and hospitality providers.READ MORE
From The Baltimore Business Journal, Feb 8, 2022
The future of Downtown Columbia’s Lakefront District became more clear Tuesday with details of a $325 million investment to bring new office, retail and residential to the area around scenic Lake Kittamaqundi.
The district’s redevelopment has been in the works for years, but now developer the Howard Hughes Corp. has confirmed plans will include a new medical office building, 675 apartment units, a music venue, a restaurant, and a minority-owned business incubator. And that’s just to start.READ MORE
Patient loyalty is critical to the success of your practice. Repeat visits are what keep your business ticking along. The happier your patients, the more likely they are to come back – and to recommend your practice to friends and family. Delivering great care and building rapport are two key elements that go into driving customer loyalty, but there’s one simple factor that often goes overlooked: thanking your patients.READ MORE
Owning your dental practice can be great for your bottom line – and your own financial planning. And with the pandemic increasing the number of dental practices on the market, now can be a great time to buy. But like any kind of property ownership, the numbers need to make sense before you sign on the bottom line. Here’s what to know about buying a dental practice and selling it when the time is right.READ MORE
Medical practices are dealing with increased responsibilities, wider service provision, and tighter bottom lines. In this context, every decision, minute, and dollar count. But without robust benchmarking, it’s impossible to know how your practice is performing and where gains can be made. Here’s how to measure your clinic’s performance and use it to drive future success.READ MORE
The global supply chain is under strain, and the healthcare sector isn’t immune. Shortages of critical healthcare supplies can quickly become serious. We saw this at the beginning of the pandemic when PPE supplies were a major issue, and the issue is back in the news, in which shortages are touching just about every industry area.
Here’s what to know about the supply chain challenges – and how to plan around potential shortages.READ MORE