A Tale of Two Practices
You ever wonder why some practices take off and others just sort of scrape by?
Five years ago, two practices signed on with MedPB within weeks of one another.
What struck me at the time was how similar they were. Their offices were in sister cities, with similar demographics. There was about the same level of competition, and they had the same number of audiologists.
Each pulled in about $500,000 in revenue a year.
I was shocked when I met with them last week. Because while they started in the same place, their practices were radically different today.
They were still in the same towns, still practicing audiology.
But there was a major difference: One practice owner seemed to have grown just enough to keep things going, while the other practice owner is starting new locations from scratch and making millions more.
What made the difference
One practice struggled with profitability and growth, while the other practice opened three more offices to meet the demand for appointments.
These phenomenal results were in spite of the pandemic.
It’s incredible how some people can make it big, and others aren’t. Why are some able to take their business to the next level, and others are just squeaking by and keeping up with inflation.
It’s not as if one of the practices didn’t care about their success.
The difference lies in the choices they make along the way and the information they use to make decisions.
A marketing engine designed to leverage power
Right now, I’m looking at their marketing plans and results, and it’s clear as day.
You see, one of these practices invested in a website that attracts and converts leads. But other than that, they relied heavily on their database and reputation in the community.
The other practice decided to be more aggressive with their online marketing. Sure they upgraded their website. But they also invested in software to get additional patient reviews. They improved their ability to be found in search engines by investing in SEO, and they gave pay-per-click advertising a try.
This client knew that online, all of these elements were intertwined.
Individually, these things can help attract new patients.
But together, they create a kind of synergy that’s just not there otherwise. Investing in an engine allowed them to leverage the power of each marketing dollar they spent.
And you can see that in the results. With each strategy they added, they saw a bump in new patient calls. It looks like stairs leading to newer heights.
We see this trend across all our clients, and the proof is in the results we get. You can put that statement to the test easily since we don’t make our clients sign long-term contracts. We know our results speak for themselves.
Want to achieve more? Talk to us.
