The Simple Recipe for Running a Successful Practice
Whether you are looking to open your clinic offering bioidentical hormone replacement therapy (BHRT) or you have another specialty in functional medicine, there are some key pieces to the puzzle that will help you create a successful medical practice.
Here’s what I share with practitioners who come to me looking to add BHRT to their practice and create new revenue streams.
Stay Clear on Your “Why”
BHRT is a patient-driven movement that is continuing to hold promise to millions of people suffering from hormone-related health issues.
Menopausal women especially want alternatives as they find many conventional options fail, or simply want to take more of a proactive role in their long-term health.
But it’s important to bear in mind that your demographic is not limited to this.
A successful medical practice can appeal to multiple audiences. People of all ages, genders, and backgrounds are looking for cosmetic and wellness treatments which are low risk, comprehensive, and long-term.
People are craving more personalized treatment and focused wellness plans.
And considering the aging population of women, they will continue to turn to hormone replacement therapy to help with age-related hormonal changes.
So there’s truly a case for BHRT revenue levels to grow in a new or planned BHRT practice.
Today people are looking for solutions all over the place and can find that just by clicking a button.
Almost all markets are saturated due to the availability of products and services online.
So how can you make your offerings stand out?
Add value by offering free or discounted products and services. Let patients try them out first before committing to a more extensive investment.
Make sure that your free or low-cost offerings are set up in such a way that people will see or feel results that genuinely improve their lives — not just superficially.
Ask them how they feel when using a specific product, be prepared to recommend a few options, and even use your own experience or your staff to highlight the effectiveness of treatments.
Learn About Packaging and Pricing
What do you know about how to package and price BHRT offerings? In truth, there are plenty of different options.
Some prefer to offer a free consultation, and some may choose to have free community workshops to generate interest and awareness about your services.
Read this blog about packaging and prices for a comprehensive discussion on this topic.
Understand and Invest in Marketing
You already know that investing in marketing is essential. But with so many options these days, where do you start?
Once you understand your market base, you can then work towards offering your functional medicine services to both existing and new patients.
Doing so may look like this:
- Building an SEO-focused website
- Creating video ads to play in your office
- Establishing a presence in your local community
- Training staff to market-specific treatments
- Creating a referral program
No matter what your overall strategy is, do not skimp out on your marketing budget. Investing in your marketing correctly from the very start could be the foundation that makes for a successful medical practice.
You might be the best at what you do, but if you don’t implement an effective marketing strategy, no one will know this!
To learn more, check out this blog article about BHRT marketing.
Get Comprehensive Training
To get started with BHRT, you need to be capable of assessing each patient’s needs, history, lab results, health goals, symptoms, and more.
So if this is your focus, look for courses that truly prepare you to implement BHRT into your practice.
You’ll want to find training that teaches in detail about a BHRT business, but also details about all of the dosing forms, administration of hormones, and supplement protocols.
For instance, you want to know when it’s good to recommend testosterone pellet implantation over other dosing forms and how to administer this properly.
Our training program focuses on 4 key components:
- BHRT Foundational Education: Learn the science behind BHRT
- BHRT Assessment Techniques: Lab testing practices and assessing results
- BHRT Application Strategies: Hormone actions and how to prescribe
- BHRT Implementation Procedures: How to integrate hormone therapy into your practice.
For BHRT to be effective and make a difference, it must be appropriately administered. So make sure you are doing what’s needed to offer optimal value to your patients.
When it comes to running a successful medical practice, the most important thing is to be invested in what you are offering.
Keep learning, keep training, and keep pushing your practice to deliver the best products and services.
Become an expert at what you do, and over time you will be recognized for your skills and expertise…but only if you are doing something worth talking about!
Ready to learn more about how BHRT could fit into your practice? Click here to schedule a strategy call and get started.
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