The Importance of Quality Care in Attracting Patients and Growing Your Practice
Practice’s that aren’t paying attention to providing quality care are setting themselves up for failure. Patients are looking for the highest quality healthcare services at the best price point, and if your practice lands in the sweet spot, guess who gets their business…you!
Being transparent with pricing, as well as offering high quality services, can go a long way in guiding patients toward your practice. In fact, I recently found myself in a situation where this was the case, and (spoiler alert), a lot of research went into finding the best option that met at the crossroads of cost and quality.
Due to a ski injury that was not healing, my husband’s orthopedic doctor recommended he get an MRI. In my household, I deal with all things medical. Lucky me. Knowing that he was a member of the High Deductible Insurance Club, I immediately cringed envisioning the inevitably high price tag.
I began my search by calling my go-to imaging center. Much to my dismay, I found out they were no longer independent. Unfortunately, that typically means a higher price tag (a much higher price tag…as in a 50% higher price tag). Ouch.
So, the research on pricing continued. Browsing options in the pricing tool offered by my husband’s insurance company provided some initial, albeit limited, insight. It was helpful but not very accurate, so I began calling around to dig deeper.
As consumers (aka patients) seeking healthcare services in today’s environment of high deductibles, we must be diligent and take charge of our options when it comes to our health. That means that practices must be as transparent as possible with price, as well as quality, and aim to please in both areas when possible.
For patients, it’s all about finding high quality care for less. Understanding price differences from an office visit to urgent care facilities to tests and procedures is very important to patients, but it’s not always easy. I found myself leaning toward the independent practices with their own imaging centers as they checked off those criteria.
Ultimately, my husband ended up at an independent practice that offers imaging. This office is a competitor of his prescribing physician. What can I say? It all came down to high quality care at a reasonable price. To me it was a win-win, even if took some time to get that win.
Patient loyalty can be fleeting in today’s healthcare environment. To stay competitive, especially as an independent practice, it’s important to take your patients’ (and future patients’) interpretation of the value you bring and the impact you’ll have on their bank account into consideration or risk losing out to the competition.