5 Healthcare Marketing Tips to increase your Practice Valuation

Are you looking to sell your medical practice and maximize the valuation of your practice? As you may have guessed, in order to maximize your valuation, your practice has to be thriving. The number of people using the Internet to find medical care has drastically increased over the past decade, and as a result, online marketing has never been so important. This article will touch on some of the most effective methods you can use to market your medical practice in 2021.

Social Media

With the increasing popularity of Facebook, Instagram, Twitter, and LinkedIn, social media is simply too big of an opportunity to miss. By updating your patients with the latest news and sharing insights on industry trends, it is possible to connect with your patients in a much more personal way and become known to potential patients. Regular updates about your practice’s information including events and staffing updates should also be an important aspect of your social media marketing.

Patient Reviews

Patient testimonials are undoubtedly one of the most important driving factors of potential patients in deciding which medical practice to utilize. With just a few clicks on Google, Facebook, or BirdEye, prospective patients can examine existing patients’ perceptions of the quality of service offered at your practice. Having good reviews does not just boost your practice’s conversion rate and increase sales, but also builds trust between you and your patients in the long term. To do this, it is essential that you take a personalized approach and engage with every patient. As medical attention is a highly personal matter, doctors should build relationships on a more personal level with their patients. By understanding the needs of individual patients and following up with them after their appointments, you will be able to build strong long-lasting relationships with your patients.

Website

Many practice owners tend to ignore the importance of having an online presence. This is a common mistake that many older practice owners make. Having a modern and well-designed website gives more credibility to your practice and establishes a positive impression on potential patients. As websites are often accessed via a variety of electronic devices, it should also be noted that your website should be easy to navigate on both computers and mobile devices. Websites should be designed to represent your overall brand that builds credibility and attract new patients. Today, building a website has become easier and cheaper as a result of tools such as WordPress and Square Space.

Blogging

Publishing relevant content is an effective method of keeping your patients updated and building positive relationships. Publishing consistently builds credibility and helps improve your local SEO presence. This is a great way to stay in touch with your patients and to share information about changes and updates at your practice.

Referrals

Having a referral system is also an effective method of getting more patients through your doors. By building positive relationships with patients and other local practices, it is possible to refer each other as needed. A common effective method is to provide special concessions to your referrals and referees or asking retiring practice owners to refer to your practice.

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About Dwek Capital

Dwek Capital is an M&A advisory firm that specializes in the healthcare sector. We work with leading healthcare groups across North America to provide them with the best acquisition opportunities. If you are a practice owner that is looking to sell your practice and would like to learn more about some of the opportunities currently available, please contact us at info@dwekcapital.com and our partners or associates would be happy to give you a free consultation.