I work with a practice owner.
We'll call him Mark.
His small 7 year old solo practice is stagnant.
Not growing, not actively dying.
Just floating along.
His revenue was from hearing aid sales, almost exclusively.
Used to be mostly private pay, but TPAs have crept up and are taking more of his time.
Now he's busier, but not making more money.
We got under the hood of his practice and found some interesting things:
- He talked about hearing aids, not his treatment process.
- He didn't have a well-defined "Adoption Offer" for outside patients.
- He gave hearing evaluations away for free.
- He didn't offer extended in-house warranties.
- He didn't have structured extended service plan offers.
- And more...
Each of these was a leak in his practice.
Recurring revenue, left on the table.
And it all came back to one concept:
Offer Creation.
In hearing care, we tend to think of products and services.
Patients don't want either.
They want a solution to their problem.
A solution:
- that they're confident will get their desired result.
- that doesn't seem overly complicated or confusing
- at a price that's commensurate with the value/pain of the problem to be solved.
So, we took all of the problems that Mark's patients and candidates were bringing to him.
Turned the problems into solutions, and the solutions into offers.
Within two months, Mark had added over $10k in monthly service revenue, and his treatment acceptance improved by 10%.
That's over $150k in his pocket this year, with no additional overhead.
Not to mention the new "outside purchase" patients who now like and trust him, and will upgrade with him when the time comes.
This is the type of work that we're doing every day in Practice Amplifier.
Building offers.
Clearing roadblocks.
Growing peaceful, profitable revenue.
