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August 2008

Demographics made easy

Loopnet_3 When working with chiropractic students across the country, I often hear of great resources that I have not discovered.  I'm always happy to hear about new websites, publications and any type of resource that helps us be more effective.

I heard of a great website that can help in site selection and generally provides excellent demographic data.  www.loopnet.com

This is primarily a real estate website.  You can search for property available for sale or lease, but what I found interesting is the demographic data available specific to the area you are searching.  The site is free (it will try to up-sell you to a "premium" membership, but basic use is free) and easy to use.  I found it helpful to quickly get the basic demographic data needed to start the decision-making process.

The site also has great information on cost per square foot, contact information for brokers, along with features of specific buildings.

I found this site useful and wanted to pass it along.

If you have any sites or other resources you have found to be helpful, on any topic of starting into chiropractic practice, please comment on this blog and pass it on.  If you found something to be helpful, others will too!

An important balancing act

Relax_on_dock It's  been my observation and experience that many chiropractors and other professionals work excessively long hours. Europeans are known for their relaxed mid-afternoon siesta's as well as their extended vacations. We Americans, on the other hand, seem to thrive on fast food, instant gratification and the 24/7 society.

While working hard is certainly a great virtue which I support, achieving "balance" in our lives, while difficult, is quite important.

A dear friend called me last week. He related some serious personal health care challenges which had recently been identified. His whole perspective on life had been changed with a blink of the eye.  He naturally questioned himself, relative to why he had not spent more time with family and friends. He wished he'd "smelled the roses" more often, rather than  constantly chasing "the material world."

Our lives no doubt are complicated, as we've been programmed to pursue the so called "American dream." As we approach Labor Day, it's a good time to assess what's really important in the grand scheme of things.

My advice is to work hard but also lead a well-rounded life ... one which embraces family, friends, hobbies, interests, experiences and helping others. Keeping these things in "balance" will make your life and practice more fruitful and rewarding.

Happy Days! And why not take an extra day off soon?

A marketing idea that makes sense

Sore_back_2I have never been one for magnets, pens, calenders etc.  Perhaps it is because I personally have never used any of those items given to me by other professionals and businesses. 

In addition, what does a pen have to do with with back pain and to remind them about their chiropractor?  Maybe that would be a good idea for a hand specialist who deals with carpal tunnel syndrome.

With that said, I have had a great response with giving the ice/hot packs used in the freezer/microwave to my patients (with my business name and phone number on them, of course). 

When they have pain and use the ice or hot pack, they think of me and end up calling.  I also have a page of "icing and heating recommendations" that are handed out with the packs.

I could make a minimal profit by charging the recomended $5 a pack ... but I like to think that I am making out better in the long run and creating a relationship with my patients by giving it to them for free.

A shoe seller's secret

Shoes_2 The Harvard Business Online posted a blog recently about ZAPPOS. Now, most of you have heard of ZAPPOS.  They are a large discount chain that sells SHOES!  Ah, my favorite item! 

Anyway, the blog was entitled "Why Zappos Pays New Employees to Quit." 

Boy, that caught my eye. 

It appears that ZAPPOS is fanatical about great service ... not just satisfying customers but amazing them.  Delivery is free and fast and customers can return unwanted products at no charge.

In a world of clueless, surly or impossible-to-reach customer service personnel, ZAPPOS' fanaticism helps them stand out.  And their CEO says it's all in the hiring.  After a few weeks of intense training, new employees in the call in center are offered $1,000 on top of what they have already earned to that point if they want to quit!

The theory is that the people who take the money obviously don't have a sense of commitment.  By the way, the company says about 10% of the trainees take the offer. 

So what's ZAPPOS secret? 

Simple..the secret to success is real commitment that permeates through every customer and every transaction ... EVERY TIME.

Are you (and your staff) making sure you're fanatical about giving your customers great service? Or are you just there to "do your job?"

Develop a name for yourself

Business_cardWhen the word chiropractic is used in your catchment area, you want your name to be the first thought by anyone who hears the word. 

In order to develop brand name recognition and market penetration you must

  • have a vision
  • a written marketing plan
  • a commitment to the daily, weekly and monthly execution of that plan

This can be done at minimum expense and the only cost is your time and willingness to do the work required.

On a daily basis hand out 5-10 business cards to individuals you have not met before (and ask for theirs in return). 

Your business card will be part of your branding so be sure it is attractive, has a quality look and represents the self you want to present.  When giving out cards, do it purposely and deliberately.  When receiving a card make a notation on the back as a memory jogger and follow-up with a short note or email.

Every community has 2-3 "hot spot" locations - a diner, a restaurant, a coffee shop - where people in the community gather to get caught up on things or meet friends.  Make your presence known and become part of that culture.  It will expand your network.

Every day find three situations that would warrant a thank you note from you.  By doing this it forces you to look for the good that surrounds.  On a five-day work week that comes to 15 people each week that you touch with kind words.  People remember that action more than your ads or flyers.

The community is rich with opportunity. 

Stake out your claim as an authority in the causation of back pain.  Be a student of the literature and convert that language into something that is easily understood by the public.  Develop a 15-minute presentation on the subject along with the graphics in a Powerpoint presentation.  Offer to speak on the subject before local service organizations such as Rotary, Kiwanis and Chamber of Commerce. 

Contact the local cable television station and offer the program to their viewers. 

On a daily basis there are opportunities to showcase yourself - seize these opportunities! Create awareness and you will soon find the public wanting what you have to offer.

More cheap marketing ideas

Bouquets_2 Because I am just starting into practice, my budget doesn't let me venture into paid advertisement like phone book, billboards, large newspapers, radio...absolutely nothing. 

So currently ,I am not doing any external advertising with the exception of two small ads in local newspapers. These were paid for by the previous owner of my practice and was part of the sales agreement. 

But at the same time, I have to come up with marketing ideas that are very cheap or - even better - free to get my name in the community and also to show that I am credible

At first glance this is difficult but here are some ideas I am currently doing and/or recently have done:

  • Volunteer
  • Be Active
  • Be Creative

Recently, my fiance and I volunteered at a local triathlon event, with the goal of meeting local athletes, volunteers, and the community. 

Next week I will be running a 5k road race that will help support the local high school cross country team. 

Don't be afraid to be creative and use sources that are available to you. For example, when I moved into my office my family (large and Irish) sent me many flowers and plants - which was a very nice gesture and I appreciated it. But it gave the office the appearance of a funeral home. 

In turn, I decided to give some bouquets to local businesses. This gave me the opportunity to introduce myself and also give a couple of business cards out which I wouldn't have done if it wasn't for the generosity of my family. 

On a more professional note, I did send letters to my active patient base introducing myself and explaining what should be expected for future office visits. 

As you know postage is not free and this will take a substantial amount of time especially if you do it yourself like I did. 

Finally, I do plan in the near future to send updates and letters to most patients' primary care and family physicians to underscore the type and quality of care that patients receive at Gilroy Family Chiropractic Center (there it is - a free plug for my office - I knew I could work it in here).

Did or will any of this work? I don't know yet but I believe it will in time. 

At the very least, I met a lot of nice people, built up some credibility in the community, and had some fun along the way...all for a little bit of time and very little expense.  If any of you have some creative ways of marketing on the cheap, please leave a comment.

Thanks a million!

Thanks_a_million What a wonderful phrase - "Thanks a Million" - and it could be used as a wonderful marketing program. 

Lottery programs are in almost every state and it seems that everyone loves to anticipate the "dream of winning a million."

So when opportunities present themselves for you to say "thank you" - whether it is a referral of a new patient, someone who did a great job in a community effort, the service station attendant or an individual in the community who deserves a note of praise, here is an inexpensive way to say thanks.

Have cards made similar to the one in this picture. The cards and envelopes with your name and address can be printed for a very modest cost. The cost of a lottery ticket can usually be as little as a dollar or two.

The lottery tickets provide a million ways to say thanks and a fun way to create a moment for the recipient to "dream" the millionaire dream that you have made possible.

Just the habit of sending a note of thanks or praise every day will do wonders for your practice but, more important, it will give you a great feeling of personal satisfaction to have recognized folks for what they have done.

Are you "out of sight?"

Binoculars Communicating with the public, whether it be other professionals or patients, is an ongoing process and a great practice development tool.

Sharing a useful tip or greeting has been a successful marketing method for chiropractors and businesses throughout the ages.

Many of us have sent letters to new patients, forwarded birthday greetings, or acknowledged achievements of those in the community.

Whatever the occasion, "staying in touch" will enhance your practice.

As the Internet has exploded, communication has become very cost effective and easy to use. Just as we used to collect and save businesses cards in a Rolodex file, we now harvest Internet addresses of both patients and other contacts in the community.

An email newsletter, article of interest or greeting, is easily forwarded to a contact. You establish your own criteria, whether it be those described above, or just a quick "FYI"  to a referral  source or a congratulatory message to a worthy individual.  The key as with many marketing tools is regularity.

Remaining visible and "in touch" is a great way to differentiate yourself and  grow your practice.... And as we've all heard, "Out of sight, out of mind!"

What do you do to stay "top of mind" with your patients? Click on the "comments" link below and share your ideas.

Happy Days.

Tips on marketing and Medicare

CouponsMarketing is the process of informing the public of the services you have to offer.  One of the most effective methods of marketing I have found is through talks with civic clubs or church organizations. 

I always say that people come to you because they know you or your reputation.  They never ask for your CV or grade point average.

When doing a public talk, always give them something to go home with, such as: 

  • a pamphlet with your name on it
  • a refrigerator magnet,
  • Biofreeze packets with your card stapled to them

However, you must be careful what you give away - especially with the coupons you give for free or discount services.

Medicare states the following in their regulations: "A person who offers or transfers to a Medicare or Medicaid beneficiary any remuneration that the person knows or should know is likely to influence the beneficiary’s selection of a particular provider may be liable for civil money penalties (CMPs) of up to $10,000 for each wrongful act. 

The statute defines “remuneration” to include, without limitation, waivers of co-payments and deductible amounts (or parts thereof) and transfers of items or services for free or for other than fair market value.

The OIG has interpreted the prohibition to permit providers to offer beneficiaries inexpensive gifts (other than cash or cash equivalents) or services without violating the statute.  For enforcement purposes, inexpensive gifts or services are those that have a retail value of not more than $10 individually, and no more than $50 in the aggregate annually per patient."

What this means is that you cannot offer any free or discount services that have a value of more than $10 and you cannot give anything away that totals up over $50 per year.

If you give out coupons or advertise for free or discounted services, you must clearly state on the coupon that this excludes Medicare, Medicaid and Champus.  These are the government programs that are affected under this regulation.

When borrowing - be prepared and persistent

Money_lender_2 We are all aware of the current economic conditions.  We have all felt its effects to varying degrees.  But there is one particular group who have and will continue to be impacted by the situation in banking and the financial markets.

Borrowers.

Credit has tightened.  A loan that would have been a slam-dunk 18 months ago, may not ever see the light of day today. 

My lender lectured me for 15 minutes the other day about how tight my next real estate deal would have to be in order for him to do the financing.  His bank's management has tightened everything and he said there are few deals, particularly in real estate, that he is able to get approved.

What does this mean for you as you embark on your chiropractic career? 

If you are planning on opening up a practice, the implications are plenty.  It DOES NOT mean you can't get financing.  It DOES mean you have to be at the top of your game when you talk to lenders. 

  • Your business plan needs to be air-tight.  Be prepared to defend every number and statement you provide.
  • Know your credit score.  You don't want to be surprised when the lender pulls a credit bureau report on you.
  • Be prepared to offer some of your own cash to get the doors open.  The days of 100% financing are over.
  • Consider offering a co-signer to get the deal done.

Lenders are still loaning money...it's how they make a profit.  But they are definitely not willing to make loans that they view as risky.  As always, when talking to lenders, educate and build their confidence in you.  Find the banker who is the right fit. 

And persistence is probably more important than ever.