New Year's Resolutions for your Business

As the new year approaches it's the perfect time to take a look at what is working, what isn't, and how you can improve. Many people are planning to launch into weight-loss goals, more quality family time, or stress-reduction resolutions. Why not make a resolution to improve the health of your business? For many healthcare businesses there can be cost savings and untapped profit potential. Here are 3 areas to examine to make this new year your best yet!

Product and Service Lines

The first step is to take a hard look at the products and services your business is offering. Is your offering keeping up the needs of the community you’re servicing? Possibly there are products or services you could delete that would allow room for more profitable or in-demand items. Run some reports to examine what services and products you are selling and who is buying. What are your low performers and do you still need to carry them? Also look at those low or mid-level performers and see if there are ways you can encourage growth. Another excellent source of untapped data is from your staff members.  The front lines hold a wealth of info. Ask your team their thoughts of what is moving, what isn’t, why, and how you can improve. If you are a home healthcare provider, it is time to dive into increasing retail products.  This can be an excellent add on with instant cash flow in light of reimbursement concerns.

Vendor Review

Make a resolution to review your vendors. Look for ways to consolidate purchases. Many times we don’t know all the products a vendor carries. You can conserve cost by buying more items at a time and reduce freight expenses.  Review your contract agreements. It is amazing how much savings most members aren’t taking advantage of. Look at your top spend items and your supply item disposables. These costs can add up fast so complete a value analysis review and see what savings you are missing out on.  Most vendors will offer assist with your review and ramp up your savings in no time.

Positioning and Promotions
For many in the medical field, there isn’t the typical discounting and promotions that we see in the consumer marketing, but there are still many ways you can promote your business. A couple of key concerns most patients voice is are they receiving the best care at a reasonable cost? Positioning your medical business as the industry experts, the leading providers, offering innovative services and products will encourage this brand message. Also educating patients on how you are cutting unnecessary costs and giving more value for every hard earn dollar going your way will go a long way. Create cost effective marketing flyers and brochures to hand out at events or in office. Additionally, get more involved in your community. Participate in cause-related marketing efforts such as health walks or community health fairs. Not only will get to engage with your potential patients but you are helping educate on health-inspired messages while supporting your neighborhood.

These are some high level ideas but the lesson is to make time to think about business resolutions. With focused goals and targeted tactics you can make this year a smashing success!  Have other resolution tips? Please share your comment below.  

Gas up your Marketing Engine!

Healthcare reform, ACO’s, competitive bidding, reimbursement -  what is a business to do when everything is so up in the air? The best advice is to keep up the fight. Stay as educated as you can on the pending healthcare reform, but you need to keep your business going even in uncertain times.  Building your brand and staying in front of patients is more important that ever. Marketing is the fuel to fire your business so don’t pull off the gas!

Your Story

An easy marketing approach is to simply tell your brand story. How did your business start, why are you in business, what is that you provide to patients, what makes you different than your competition? All of these are starting points for a conversation with your patients and potential customers. Invite them to learn what you can do for them to make their lives better. Your story can be turned into printed ads, website information, radio or commercial advertising and more. Once you have a strong grasp of who and what you are, it is easy to communicate it to those that listen.

Your Community

Most of your patients come from the community around you. Stay connected by getting involved in local events, health fairs, charities, and awareness walks. You can sponsor a booth or offer donations. Talk up your participation up in your locations and get your current customers involved. Other opportunities include joining your local Chamber of Commerce or other local networking groups. With sites such as LinkedIn or MeetUp there are many ways to get connected and build local relationships. These can be free or low costs efforts to keep your marketing machine going while building your name.

Partnerships

Tap into these new relationships to co-op your advertising efforts. You can cross market with your local neighbors. If you are next door to a cafe or coffee shop why not have a sidewalk sale with free samples drawing traffic to both locations. Join forces with your nearby hospitals or care centers. If possible to set up a referral or lead system or partner with them on a local educational event to mutually benefit both of your businesses. Partners have the potential to share advertising expenses such as print or radio ads. Collaboration stretches all parties marketing dollars and shows camaraderie to your mutual customers.

We might not know all the answers when it comes to the future of healthcare industry, but we definitely want to stay in the game. Your competition might be pulling back, so now is the time to strike with strong marketing efforts. Have other marketing suggestions? Please share in the comments below. Keep fueling your selling engine with the power of strategic marketing!

What's Your Bag?

If you are an independent medical facility, you want every advantage possible to grow your business. The right packaging can be another tool in your arsenal to provide a professional image, increase efficiency and assist with patient safety.

Personalization Power

Look the part by adding your logo to your packaging. Personalization builds your image as reputable a business.  Coordinating your business cards, letterhead, staff apparel, and bags provide a consistent marketing message across all items that come in contact with your patient. This builds confidence and trust that you are strong, established business who can meet their needs.

Depending your business you might be moving medical equipment, braces, orthopedics, or other items out the door. Package your retail items in the right bag and personalize it with your logo to create a walking billboard. Your bag travels with your patient continually advertising your business. In fact, many bags are reused by customers for lunch bag or as a tote bag to the grocery store. Your business is going places your marketing collateral never would.

Accreditation Packaging Supplies
Accreditation packaging supplies are created to not only  help you meet certification requirements but improve work flow and patient safety.  Equipment covers and tags to indicate clean, dirty, repairs, or returns. These items help streamline your operations by quickly alerting staff of the equipment needs. The assisting with your staff following accreditation requirements for not only their safety but also your patients.

The Right Bag for the Job
Packaging helps you do your job better. If you are delivery temperature sensitive TPN units or diabetic meds, foil pouches and chill packs allow you to safely supply your patients with their needs. Color coded or printed specimen bags alert staff instantly of specimen needs. Prescription bags allow you to staple important medication information and have the patient get their meds out the door.

Bags can be a forgotten supply item but they are a universal tool to improve your business. How are bags helping your business today?

Media Savvy Biz Tips!

Marketing is a way to increase awareness about your brand and grow your business. Business owners know the services and products inside and out but often could use a little help increasing their media savvy skills. Here are some easy ways to super charge your marketing efforts!

The Pitch
Defining what your business is all about is crucial for customers and your community to understand your brand. Your pitch can be a media kit, business fact sheet, or portfolio. These included info such as the business history, staff bios, company mission, and product/service menus. Think of this as your business's resume. The goal is to pitch what makes your business unique and sells the reader on why you.

Public Relations Contacts
This is an ongoing database of public relation contacts in your industry and area. Examples include local newspaper editors, reporters, TV and radio producers, or industry publication editors. You can meet and greet local PR reps at chamber of commerce or other events. Also look at the sources websites for emails and mailing address. You want these people to love you and your services to help promote your business.

Press Releases
Now that you have your PR list you need to send them newsworthy information. Press releases are generally a one-page document that highlights special events, new employees, or cutting edge services. Need help on writing the perfect press release - click here for my previous blog on "Press Release - How To Guide". The key here is to send meaningful press releases that are worthy of publishing. Avoid PR overkill that can land you on the black list. Be sure to find the happy medium between sending frequently but timely, relevant messages.

Your Guest List
Sometimes we forget to tell our current customers all the great happenings your business is involved in. Keep in mind your patients when creating your press releases. Maintain and continually update email, mailing addresses, and phone numbers of all clients. Tie in some of your press release efforts into your monthly newsletters. Sharing good news drives further customer loyalty and may entice them to take advantage of your new offering or join you at your next charity event.

Marketing is an ongoing quest. Marketing isn't something you set and forget. You want your business to create buzz and be out in your community. With a bit of effort and some tenacity you can be your own Marketing Maven!

Have some marketing tips to share with our readers? Post them below!