Concierge Medicine: Why An Unfair Competitive Advantage Is The Secret To Enrollment
For concierge medicine physicians, standing out from the rest is just as important as for any other service or product. You must change how you view your service if you want to be successful and grow a profitable client panel.
It is important to be meaningful. It is essential to dig deep. It is essential to understand what your market needs. You must then provide it better than any other person.
This means that many practices have to think differently about their business. This means not accepting things as they are and looking for ways to attract loyal patients.
It is essential to cultivate, grow, and keep a healthy patient base. This means that patients must be able and willing to pay your monthly subscription or fees, and they should also like the services you provide.
Either you want to build an extensive patient list and hope it pays the bills, or you can create a more profitable, loyal panel that will pay the bill and is happy to pay.
This is what marketers refer to as an unfair competitive advantage. This distinguishes you from other concierge medicine practices. This is why patients will choose you over other practices. This is how you can retain patients for a long time and create a profitable practice.
This is why your practice, and not the one around the corner, will succeed.
Let’s get emotional
People purchase emotionally. It doesn’t matter if they choose a doctor. They purchase with emotion and then only justify their decision with logic. A person will buy more if they feel emotionally connected to the product or service. Your patients will be more loyal if you establish and maintain an emotional connection with them. Referring patients can help you build a sustainable and profitable practice.
Unfair Competitive Advantage: The Nature of Unfairness
It must be true. There is no point in creating an advantage just to make it sound good, hoping that high-value patients will flock to your clinic.
* It must be credible: Social proof has to show or go a long way in proving your credibility.
It must be significant and relevant. If your lucrative patients don’t value your unfair competitive advantage or place it higher than others, they won’t sign up for your membership.
Unfair competitive advantage refers to a unique way you think and communicate and can be more productive than your competitors. If you want to make an impact on your market, your unique way of being different must be meaningful.
You Need to Dig Deep in Your Service
It’s less a case of a doctor healing thyself than it is one of physician know yourself. By digging deep into the clinic’s nature, you can uncover unfair advantages that you didn’t know existed. You can identify areas that you need to improve your practice or position your brand to offer something new to patients by taking a hard look at your competition.
These are some ways that your practice may be different from other practices in the market.
* Specialization in a specific brand of concierge medicine.
* Offering a unique process.
* Offering a unique business model.
* We offer a unique level of service.
* Identifying a niche market.
Multiple Unfair Advantages
While you can combine several unfair competitive advantages to enhance your brand and position in the market, this must be done carefully. It is not worth attempting to combine everything and hope that something sticks. Every advantage must be evaluated, tested, and incorporated into your business strategy. It is essential to be able to dedicate the time necessary to this task. Too many strategies can lead to confusion for patients and staff.
It takes time to develop a concierge medicine practice. It is important to evaluate everything and look at the patient experience from a new perspective. You cannot make assumptions for granted. You must test them to ensure they are valid and relevant to your market.
Marketing your Unfair Competitive Advantage
Once you’ve identified your unfair competitive advantage, you must not only talk the talk but also do the walking. Your team and you will have to think, talk and act consistently in accordance with your unique differentiators. This includes the design of your practice as well as any integrated marketing campaigns. This is your brand’s spine, and it matters.
If your market differentiation is that you are more patient-centered than your competition, then everything about your practice, as well as how it is marketed, must be patient-centered. Your website may claim that you provide better personal care for your patients, but your receptionist is not responsive or helpful. This is not your responsibility.
If you don’t have business experience, this can be difficult. It may benefit your practice to hire someone who is skilled in developing areas like luxury and concierge medicine. It can be challenging to see the forest from the trees when you’re so involved in your business. An objective perspective can help.
Concierge medicine can be described as a service company. Your patients are your customers, and you make money by providing them with excellent service. Your unfair competitive advantage can be used to your advantage, and you will be able to retain a lucrative business panel. This will help you define your practice and make it profitable for many years.