We tend to focus on macroeconomic issues that are beyond our control, such as the trade deficit and the unemployment rate. Practices should focus instead on microeconomic issues—what is going on within the four walls of the practice that they can control:
Internal Marketing. Some patients do not know that you are accepting new patients. The recall system could be improved. Patients who are “thinking about treatment” need follow up. Patients who know that you provides services a,b, and c need to know that you also provide x, y, and z.
Efficiency. The goal is to do many of the most profitable procedures in the least amount of time and to track and improve efficiency.
Internet and Social Media Marketing. It’s a brave new world with so many possibilities. Internet marketing should be a budget line item with significant return on investment.