Five Essential Steps to Attract New Patients and Maximize Efficiency with AI

Joe Habscheid Reveals Five Essential Steps for Medical Practitioners to Efficiently Acquire New Clients and utilizes AI

Nationwide, September 18, 2023 (USANews.com) – Joe Habscheid is a business growth strategist who has transformed multiple small businesses into multi-seven-figure companies. Recently, he shared his insights on how to scale a medical practice to a $2.5-million revenue mark with the use of AI.

Habscheid demonstrated his effectiveness by elevating a Plastic Surgeon’s practice in a small Midwest town from $1.3 million to $2.8 million in revenue within 18 months. Not only did the practice maintain a revenue above $2.5 million for a decade, but the doctor also found more time to spend with his family, with most of the revenue increase being pure profit.

Here’s a breakdown of the five critical steps Joe Habscheid suggests for medical practices aiming for substantial growth:

1. High-Value Procedures are a Must: Doctors need to offer high-value procedures that directly address significant patient issues. Whether it’s plastic surgery, dental work, or chiropractic care, the fee should fall within a lucrative price range, such as $3,000 to $5,000.

2. Track Key Performance Indexes (KPIs): Doctors need to measure specific KPIs to monitor their growth. These may include the number of procedures performed, consultation-to-procedure ratios, and advertising costs per prospect.

3. Optimize KPIs Strategically: Doctors must focus on the right KPIs for the best outcomes. For instance, if a doctor’s marketing strategy secures prospects at $125 each and has a closing rate of 33%, then certain conditions must be met:

a. 60 consults and 180 prospects are needed each month, at a total advertising cost of $22,500 for $100,000 in revenue.

b. Staff training can reduce the required candidates to 120, bringing the cost down to $15,000.

c. Further training and improvements could lower this to 40 consults and 80 prospects, costing only $10,000 per month.

d. This improvement can typically be achieved within 8-10 weeks.

e. In a best-case scenario with an 80% consult-to-procedure ratio, only 25 consults and 50 prospects are needed, costing $6,250.

f. The strategy is not just about reducing costs; it’s also about saving time. For example, the time saved on consults could be used to perform more procedures.

g. The ultimate goal is to reduce advertising costs by 60% while freeing up enough time to carry out the procedures, thereby generating nearly pure profit.

4. Implement a Robust Referral and Follow-up System: A good referral system can turn satisfied patients into advocates, while a follow-up system keeps potential patients engaged. Traditional media won’t suffice; modern online methods are essential.

5. Invest in Training and Technology: Whether the practice chooses to bring the knowledge in-house or outsource it to a marketing firm, expertise in technology and systems that turn prospects into patients is crucial.

To discuss how these steps could apply to your practice, schedule a 20-minute call with Joe Habscheid: Joe’s Calendar or text “Einstein” to 866-750-5255.

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City: Grand Rapids, Michigan
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