Today’s topic recommendation is brought to you by Dr. Ed J. Thanks Ed!
Okay, I’ll take a stab at it. Here goes…
Ed’s suggestion included a very important word…
Another important word (s) is…
One can invest time, money, and/or mental energy.
Today, I will focus on the investment of dollars because time and mental energy is more limited and less scalable.
Spending money to make money excites me. The other two? Not so much. 🙂
Both investing and lifetime value are a function of time in that after planting the seed (investment), you must wait for the growth.
Growth takes time.
To remind you, “lifetime value” is the total collections from all the visits a patient makes during their lifetime plus all the visits from the patients they refer in.
When you invest in each patient over their lifetime, you will reap returns far greater than if you only focused on short-term gains, like recommending more care than a patient needs or wants (which is partially why so many D.C.s have to constantly replace patients).
Ed also mentioned “experience”.
I bet he meant the “in office” experience but to Ed and everyone reading this, it’s not only “in office”…it is everything related and unrelated to your office that each patient sees, hears, reads, and feels. Online, offline, all the time.
But since ChiroTrust handles most of the stuff outside of the office and since some things are outside of your and our control (like bad press possibly caused by a local competitor, lockdowns, or even weather), I’ll list the “in office” stuff… much of what follows pertains to everything related to the office including the Doctor and the staff.
- perceived value
- social proof
- being present
- good judgement
- emotional stability
Did you notice it’s more about who you are than what you do that will make you stand out?