If you’re looking to speed up the growth of your medical practice, you’re not alone. But there are some easy ways to help a practice grow at a faster rate than the norm.
First, establish a vision, wrote Nick Hernandez, a consultant specializing in strategic growth for practices, in a blog post for Diagnostic Imaging. When working on strategic planning, one of the keys for physician partners to address is their vision and agree on where the practice wants to be in 3 to 5 years, he says. That can help make sure expansion makes financial sense.
Here are some tips if you are looking to grow:
- Monitor your online reviews and take advantage of social media: That can help you bring in new patients, beyond word-of-mouth, according to a post from Stearns Bank. People who want to find a new doctor will check review websites, so make sure your rating is good and address any patient complaints promptly. You can also market your practice on social media sites, such as Facebook, Instagram and Twitter.
- Consider a working capital loan: Being a bank, the post suggested practices look into a loan to upgrade equipment or even remodel the office to give patients a better experience.
- Expand your services: That’s what Azlan Tariq, D.O., did at his “hybrid” medical practice, Optimal Health Medical Fitness in Naperville, Illiniois, according to the Naperville Sun. He combined his orthopedic specialty with personal trainers, nutritionists, chiropractors and acupuncturists. The practice incorporates many different health fields that should be working together, but normally do not, Tariq says.