blog Archives - Dr. Kelley

Financial Challenges Facing Physicians

June 15, 2019 by Dr. Kelley Mulhern Leave a Comment

There are unique financial challenges facing physicians. We earn more than the average person but we have some problems that our contemporaries do not.

Student Loan Debt

The average student loan debt for recent medical school graduates is nearly a staggering $200,000. The average salary for a primary care physician is $195,000 per year, the average for a specialist is $284,000, the average for an “alternative care provider” can be anywhere from $30,000 to $150,000. Add on another $8,000 in non-education related debt (most likely due to credit cards) and perhaps a mortgage. Being a resident or new in practice may not pay well, and there isn’t time for a second job, so a lot of life’s expenses get charged.

Patient Education

June 1, 2019 by Dr. Kelley Mulhern Leave a Comment

Patient education can make or break your practice. No amount of marketing can make up for a lack of patient education.

What Do You Do?

It sounds like a ridiculous question, but ask the average person what an orthopedist does. Answers might range from “I don’t know” to, “Something to do with knees.” But what if you’re an orthopedist who specializes in shoulders? A potential patient with a shoulder problem might pass you by because they don’t know orthopedists do more than deal with knee injuries.

It’s up to you to educate patients on what you do…everything you do.

Improve Patient Satisfaction

May 15, 2019 by Dr. Kelley Mulhern Leave a Comment

We all want happy patients because they generate referrals. Make sure you’re in touch with your patients and their needs so you can improve patient satisfaction. There’s an easy, low-cost (or free!) way to do just that. Survey

Survey Says

In 2013, Medical Group Management Associates published a report stating 80% of “better performing” practices used patient satisfaction surveys.

Fortunately, we don’t have to guess if our patients are happy or how we can help improve patient satisfaction. We can go straight to the source and ask! Your patients are a gold mine of data. They can help you improve your practice in ways that matter the most to them.

Up for Review

May 1, 2019 by Dr. Kelley Mulhern Leave a Comment

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Even if you haven’t intentionally created an on-line presence, you may still have an on-line presence. Whether you’re aware of it or not, you and your practice are up for review.

Buyer Beware

If you’re thinking of trying a new restaurant or hair salon, do you hop onto a site like Yelp to find out what others had to say about them? Many of us do, and increasingly, patients are doing the same before choosing a practitioner. A lot of patients are doing this, and as much of 85% of patients let these reviews influence their decision.

Slow Summer Season

April 15, 2019 by Dr. Kelley Mulhern Leave a Comment

Summer is upon us, and that can mean a slow down in business for some. Let’s look at some ways to give your practice a boost during the slow summer season.

Step Up Your Projects

Now that things are quieter, you have time to devote to all those projects you neglected when things were hopping. And if you focus on the right ones, they can help drive business to your practice during the slow summer season.

Junk Food Marketing

April 1, 2019 by Dr. Kelley Mulhern Leave a Comment

Junk food marketing works in the short term, but it’s not a sustainable way to grow your practice. Make sure you aren’t a junk food marketer! Hot dogs

Have you ever read ingredient labels while food shopping? Almost everything is filled with sugar, even savory foods like bread and tomato sauce are loaded with the stuff! Why? Because it’s a cheap, lazy way to make food palatable. Is it good for you? Certainly not, but it’s cheap and easy. The same thing holds true for practice marketing.

Choosing Membership Services

March 15, 2019 by Dr. Kelley Mulhern Leave a Comment

Once you decide to become a membership practice, the next step is choosing membership services for your patients. We know the benefits for providers: A smaller patient load, reduced overhead, and less record-keeping. But what services will you offer your patients?

Ask Your Patients What Membership Services They Want

When some people think of a membership practice, they think of fluffy robes and private waiting rooms. Those things are nice extras, but they don’t do much to make a patient’s experience better. Ask your patients what would improve their experience. The most common things patients are looking for all relate to time: Faster access to appointments, longer appointments, and a practitioner who listens (which takes time!).

Ways To Structure a Membership Practice

March 1, 2019 by Dr. Kelley Mulhern Leave a Comment

Previous blog posts focused on membership practices, and you’re convinced! This post will discuss ways to structure a membership practice.

Before we look at the different models, remember that much of your success when transitioning to a membership practice depends on understanding your patient demographic, choosing the right structure to serve them, and educating them on how the new practice model will work. If you’ve selected the right practice structure for your demographic, communicating the benefits to your patients should be easy. Now let’s look at the three most common ways to structure a membership practice.

Membership Practices, Concierge Practices, and Direct Primary Care: Similarities and Differences

February 15, 2019 by Dr. Kelley Mulhern Leave a Comment

The terms “membership practice”,”concierge medicine,” and “direct primary care” are sometimes used interchangeably. While they have similarities, they have distinct differences too. It’s important to be familiar with the differences so you can help your patients understand them and be more comfortable with your new practice model.

If you’re among the many doctors seeking a better way to serve your patients, you may be considering a membership, concierge, or direct primary care practice model. To help you make the best decision for you and your patients, this post will outline what these practice models have in common and how they differ.

Marketing a Membership, Direct Primary Care (DPC), or Concierge Practice

February 1, 2019 by Dr. Kelley Mulhern Leave a Comment

More and more physicians are transitioning from a traditional practice to a membership, DPC, or concierge practice. The three terms are often (mistakenly) used interchangeably. (The various ways to structure this type of practice will be discussed in future blogs, so stay tuned!)

If you’re thinking about making the leap, you’ve probably done enough research to know that one of the biggest issues for these practices is marketing.

Perhaps “marketing” is the wrong thing to focus on. Focus, instead, on patient education to help your current patients become comfortable and excited about the new practice model. This can smooth the transition and alleviate some of your patient-retention fears. (Plus it can also save you time and money since you won’t have to focus so much effort on constantly attracting new patients.)