Revenue is an integral part of the overall success of your medical practice.
6 Tips to Boost Revenue
- Boost your online presence– While 64% of small businesses have a website, there are other important ways your business needs to be present online. One of the first things to do is to update your website and make sure that it is mobile-friendly. From there, make sure to create a content plan for your blog, email subscribers, and social media following. This content will engage your current customers while also boosting your reach to new audiences as well. Once you have created an effective content plan, incorporate paid advertisements on Google, Facebook, Instagram, and Linked-In. This ensures your brand is consistently in front of your target audience.
- Encourage online reviews– There are a few things you and your team can do to encourage reviews. First, you can create a list of patients that you would like to ask for a review. Second, make sure you have links to the sites that you would like them to leave a review on. Third, make sure to say thank you to the patients that do leave a review. According to Inc., 91% of people read online reviews. Additionally, 84% trust online reviews as much as a personal recommendation. These statistics alone communicate the importance of real, recent reviews about your medical practice.
- Make educational videos– Video quickly engages potential patients, while also delivering relevant content. It is an excellent resource to increase your revenue. Create FAQ videos, what to expect at their first consultation, or a behind the scenes look with your team. These videos create trust with new clients and boost your visibility. You can also use these videos for new content on your website, Youtube channel, or IGTV.
- Create a referral incentive with current patients– Your current patients are a great avenue to new, similar patients. To get access to their circle of influence, create incentives around referring new patients. This can include a percentage off their bill for each new patient they bring to your practice or a referral program that gives them a free service once they have referred a certain number of clients.
- Increase your appointments– Perhaps one of the most obvious ways to boost your revenue is to add more appointments to your schedule. Start by taking one new patient per day, and eventually increase your hours to evenings and weekends if those are in-demand times. If you are unable to change your hours or add new days, there are other options to consider to increase your appointments. One way is to incentivize low appointment times. This will fill your slow days while opening up popular hours to other clients.
- Implement late and cancellation fees– To increase the likelihood of people keeping their appointments while decreasing times of your practice being vacant, consider implementing late and cancellation fees. This will boost your revenue while also incentivizing your patients to keep their appointments. So it is a revenue win on both accounts!
- Consider the office experience– The look and feel of your medical office location play a large role in the patient experience. Consider curb appeal, the smell when they walk in, waiting room chairs, entertainment, and everything in between. Keep your existing clients coming back and new clients impressed by creating an enjoyable experience for each of them.
To find the medical office lease in Los Angeles that works best for you, reach out to Boulevard Medical Properties today.