Volume 171

July 5, 2023

• Generations Silent to Z
• Top Referral Sources
• Advocacy Scale
• LVOPS
• 2 Distinct Journeys
• Just Keep Nurturing

All too well you grasp the valuable time, dedicated effort, and substantial investment required to earn clinical service opportunities. A disruptive marketplace is trending, with consumer expectations rising, from Generations Silent to Z.

The PEW Research Center details interesting perspectives:

“…. generational cohorts give researchers a tool to analyze changes in views over time. They can provide a way to understand how different formative experiences (such as world events and technological, economic and social shifts) interact with the life-cycle and aging process to shape people’s views of the world.”

A while ago, our Friends & Family favorite Volume 24 (September 9, 2020) declared:

“Especially with competitive landscapes, difficult economic conditions and industry disruption, the ‘your most important customer is one you already have’ adage is so true. In a hearing-care sense, building relationships via your most valuable patients (MVP’s), is the best proven way to grow your practice. As emphasized previously, approximately 75% of patient flow often relates to friends and family or medical referrals.

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“While leading practices understand the rationale, more should gain from inspirational themes and systematic processes which reliably increase friends and family referrals. In countless conversations, busy clinicians routinely self-assess their performance with respect to these core goals as ‘we make occasional efforts but must do better.’ On a scale from 1-10, how productive is your internal referral program and are needed improvements deemed imperative?”

Encouraging happy patients to share joys of hearing in their circle of life, their enthusiasm about prescribed solutions is a healthy catalyst to nurture advocacy. With priceless quality-of-life improvements the heart of the matter, let’s delve into associated economic terms (another acronym…):  

LVOPS = Lifetime Value of Patient Service

For discussion’s sake, we assess these intuitive variables:

• Age at initial fitting, a new patient
• Upgrade frequency, a loyal patient
• # of fittings throughout their lifetime
• # of referrals to other new patients

By the numbers, what can be learned from contrasting 2 distinct journeys?

Mr. One & Done: a.k.a. “Where did he go?”

• Initial fitting at age 60, spends $5,000 on binaural prescription, never returns to clinic, quality of life outcome unknown and zero referrals.

LVOPS = $5,000, perhaps less if detracting prospective patients

Ms. Hearing Health Ambassador a.k.a. “Positive Vibes Matter”

• Initial fitting at age 65, invests $5,000 for binaural prescription and experiences joys of hearing
• Aftercare delights her, with periodic service visits ensuring peak performance
• Invests a total $17,500 (5, 10 and 15 years later) in 3 new pairs of prescription hearing aids
• Has an active lifestyle in upscale senior living community and refers 4 of her bridge club friends
• Each of these 4 friends follows her lead and invests $5,000 for binaural prescriptions totaling $20,000

LVOPS = $42,500 ($5,000 + $17,500 + $20,000), perhaps more when 4 friends advocate with other prospective patients. Notably, as positive trends accelerate, marketing resources can be conserved and / or redirected to other community outreach initiatives such as physician referrals.

By comparison:

Given evident benefits, starting with promoting Communication Wellness, 3 meaningful words come to mind:

Just Keep Nurturing

When clinical visits occur periodically, staying in touch between them is systematically advantageous. Nice touches including thank you cards, birthday wishes, and appointment reminders will nicely deliver pleasure to recipients.

One of the most effective and affordable ways to Stay in Touch is via E-Newsletters sent to your patient database, a prized asset. While you advise patients to properly maintain their hearing aids to achieve peak performance, are processes instituted which consistently improve how your patient census contact information is triaged and tracked?

“Quality is not an act, it is a habit”

– Aristotle

Healthy Habits Count!

If you feel our weekly Insights may be useful to a colleague, please encourage them to subscribe at:

Bruce Essman

CEO

High Definition Impressions (HDI)

PracticeGrowthbyDesign.com

bruce@hdimpressions.com



314.276.7392

View Previous Issue by Clicking on Link Below:

COVID-19 2020-03-26 | COVID-19 & Springing Forward

PGI #1 2020-04-02 | Communication Wellness Matters

PGI #2 2020-04-09 | Communication Wellness Starts with Why

PGI #3 2020-04-16 | Comorbidity Education, "Did You Know?"

PGI #4 2020-04-22 | “Diagnose & Treat” Comorbidity Education

PGI #5 2020-04-29 | Guiding Principles of The Art & Science of HealthScapes^®

PGI #6 2020-05-06 | Plan for the Other Side

PGI #7 2020-05-13 | Subject Matter Expertise & Social Currency

PGI #8 2020-05-20| Educate Well Monthly & Care to Share Daily

PGI #9 2020-05-27| The Survey Says, Take Science Seriously™

PGI #10 2020-06-03 | MD Referrals, Start with the ABC's

PGI #11 2020-06-10 | Going Digital with Omni-Channel Benefits

PGI #12 2020-06-17 | Monthly E-Newsletters, Stay in Touch

PGI #13 2020-06-24 | Wellness Wednesdays, Healthy Habits

PGI #14 2020-07-01 | Get Well Organized, Be an Educational Curator

PGI #15 2020-07-08 | Good Humor, Healthy Hearing

PGI #16 2020-07-15 | Nurturing Campaigns and Automatic Comorbidity Education

PGI #17 2020-07-22 | On the List, Tag You're It

PGI #18 2020-07-29 | Nurturing Campaigns, Go with The Flow

PGI #19 2020-08-05 | "Outsmart, Don't Outspend," The Right Fit

PGI #20 2020-08-12 | Targeted Mail, On Purpose

PGI #21 2020-08-19 | Tech Upgrades, Just What the Doctor Ordered

PGI #22 2020-08-26 | 5Ws of the Core 4 Learn More

PGI #23 2020-09-02 | The Art of Hearing, More Should Know

PGI #24 2020-09-09 | Friends & Family “Share the Joy of Hearing”

PGI #25 2020-09-16 | Your Unique Value Proposition, Pearls of Wisdom

PGI #26 2020-09-23 | Your patients' journey to well-informed decisions

PGI #27 2020-09-30 | Hear the Facts and care to share daily

PGI #28 2020-10-07 | Take the Lead, Start with Why

PGI #29 2020-10-14 | Change is evident. Let's diagnose and treat.

PGI #30 2020-10-21 | Your Local Pride. Let It Show.

PGI #31 2020-10-28 | Tell Your Story, Make It Memorable.

PGI #32 2020-11-04 | The Art of Hearing, Visibility Matters.

PGI #33 2020-11-11 | See the Pathway to Better Hearing

PGI #34 2020-11-18 | Our Experts, the Right Fit

PGI #35 2020-11-25 | Giving Thanks. Electing Gratitude as an Attitude

PGI #36 2020-12-02 | Get 2021 On Schedule and In Mind

PGI #37 2020-12-09 | E-Newsletters, Open Opportunities

PGI #38 2020-12-16 | Targeted Trio for All to See

PGI #39 2020-12-23 | Time to Celebrate, by the Book

PGI #40 2020-12-30 | 2021 For the Better

PGI #41 2021-01-06 | In 2021, HDI+. For the Better

PGI #42 2021-01-13 | More Wellness Referrals. A Resolution.

PGI #43 2021-01-20 | A Super Launch Meeting. Your VIP Ticket.

PGI #44 2021-01-27 | Motivational PCCs: Practice Culture Commitments

PGI #45 2021-02-03 | The Art & Science of HealthScapes® with Just 3 Words

PGI #46 2021-02-10 | In Their Own Words, a PET Project

PGI #47 2021-02-17 | Habit-forming progress is 1% better

PGI #48 2021-02-24 | Make Routine Progress Easy and Satisfying

PGI #49 2021-03-03 | The Art of Customer Service, Be Our Guest

PGI #50 2021-03-10 | Time for R&R (Rewards and Recognition)

PGI #51 2021-03-17 | A Year of Insights, For All to See

PGI #52 2021-03-24 | 3 C's, 1 Purpose. Your Practice Growth by Design.

PGI #53 2021-03-31 | Original Content, On Demand

PGI #54 2021-04-07 | Expert Coaching, Great Sports

PGI #55 2021-04-14 | Base Hits & a Double Play

PGI #56 2021-04-21 | Personalized Care, Think Local

PGI #57 2021-04-28 | The Art of Hearing, Who Knows?

PGI #58 2021-05-05 | Circles of Life, Listen Up

PGI #59 2021-05-12 | Customized Presentation Folders, Lasting Impressions

PGI #60 2021-05-19 | Practice Growth, From the Outside In

PGI#61 2021-05-26 | Physician Referrals, Doctor’s Orders

PGI #62 2021-06-02 | The ABC’s of Physician Referrals

PGI #63 2021-06-09 | Senior Living, The Numbers Speak

PGI #64 2021-06-16 | PEAK Performance, Measured Targets

PGI #65 2021-06-23 | PEAK Performance, High Priorities

PGI #66 2021-06-30 | SLC Growth, Be the Early Bird

PGI #67 2021-07-07 | From Their View, What’s Your Story?

PGI #68 2021-07-14 | An Informative Quartet, All Can Hear

PGI #69 2021-07-21 | Open Opportunities. Did You Know?

PGI #70 2021-07-28 | Educational Presentations, On the Menu

PGI #71 2021-08-04 | Live and Learn. The Curse of Knowledge.

PGI #72 2021-08-11 | To Be Memorable, Stick with It

PGI #73 2021-08-18 | Hearing Health Bingo, We've Got Your #

PGI #74 2021-08-25 | Hearing Health Bingo. Know How.

PGI #75 2021-09-01 | Frontline Staff. Who Can Help?

PGI #76 2021-09-08 | Opportune Invention & Hearing Health Ambassadors.

PGI #77 2021-09-15| Bring Precious Sounds to Life, Justice Served

PGI #78 2021-09-22 | Hearing Health Ambassadors SAVE

PGI #79 2021-09-29 | Hearing Health Ambassadors, Time to Find

PGI #80 2021-10-06 | The Networking Effect, Bringing it Home

PGI #81 2021-10-13 | Healthy Hearing, Good Business.

PGI #82 2021-10-20 | Corporate Wellness Matters

PGI #83 2021-10-27 | Hearing Health Partners, Carefully Funneled

PGI #84 2021-11-03 | Corporate Wellness Programs. How Rewarding.

PGI #85 2021-11-10 | Valuable Benefits, That’s The Story

PGI #86 2021-11-17 | Outside-In Growth, Handy Reference Guide

PGI #87 2021-11-24 | Go-Givers, Inspiring Heroes

PGI #88 2021-12-01 | 2022 Priorities, Ready to Rock.

PGI #89 2021-12-08 | 90 and Counting, Speaks Volumes

PGI #90 2021-12-15 | Educate Well Monthly™, Back to Basics

PGI #91 2021-12-22 | Did You Know? Targeted Trio

PGI #92 2021-12-29 | By the Book, Turning the Page

PGI #93 2022-01-05 | In 2022, Change for the Better

PGI #94 2022-01-12 | Super Practice Culture, The 3 Ts

PGI #95 2022-01-19 | Facebook Features, Wellness Wednesdays

PGI #96 2022-01-26 | Your Competitive Edge. Thankful Ripple Effects.

PGI #97 2022-02-02 | Good Humor, Healthy Hearing

PGI #98 2022-02-09 | Branding Basic$

PGI #99 2022-02-16 | 100th Practice Growth Insights™, @ Your Service

PGI #100 2022-02-23 | Your Practice Growth Insights, Go With The Flow

PGI #101 2022-03-02 | Your Growth OpportUNITY, Search Away

PGI #102 2022-03-09 | Your Practice, Uniquely Better & For Review

PGI #103 2022-03-16 | Your Health Questionnaire, Blue Man Style.

PGI #104 2022-03-23 | Ears Collect, Brains Connect™

PGI #105 2022-03-30 | 9 Facts, 1 Goal. Dementia Awareness.

PGI #106 2022-04-06 | Peer-Reviewed Success, Lead The Way

PGI #107 2022-04-13 | Knowledge Itself. Omni-Channel Works

PGI #108 2022-04-20 | Educational Architecture, Form Ever Follows Function

PGI #109 2022-04-27 | Grow Physician Referrals, Don’t be $alesy!

PGI #110 2022-05-04 | Hear the Fax™, Stay in Touch

PGI #111 2022-05-11 | E-Newsletter Nurturing = Healthy Growth.

PGI #112 2022-05-18 | Dementia Awareness Contagion & Social Currency

PGI #113 2022-05-25 | Dementia Education, The Lancet Journal Speaks

PGI #114 2022-06-01 | Modify Dementia Risk, Be Accountable.

PGI #115 2022-06-08 | By the Book, We Promise

PGI #116 2022-06-15 | Hearing Loss Prevention, A Sense of Urgency

PGI #117 2022-06-22 | Safer Soundscapes, Sustainable Hearing™

PGI #118 2022-06-29 | Safer Soundscapes, Sounds Risky, By the Number

PGI #119 2022-07-06 | Taking Care of Ears in the Teenage Years

PGI #120 2022-07-13 | Hear the Facts About NIHL

PGI #121 2022-07-20 | NIHL Collection & Just Saying Thanks

PGI #122 2022-07-27 | High Performance, Cognitive Decline

PGI #123 2022-08-03 | Cognitive Decisions, In Mind

PGI #124 2022-08-10 | Pearls of Wisdom™, Trustworthy Information

PGI #125 2022-08-17 | Keep Your Educational Tools, In Mind

PGI #126 2022-08-24 | OTC Hearing Aids, Healthy Choices

PGI #127 2022-08-31 | OTC Hearing Aids. Mild Concerns, Profound Opportunities.

PGI #128 2022-09-07 | OTC is for Over-the-Counter. R is for Resilience.

PGI #129 2022-09-14 | Best Practices, How Many Lives?

PGI #130 2022-09-21 | Products & Services, New On-Ramps?

PGI #131 2022-09-28 | Service Delivery Duo, For the Future

PGI #132 2022-10-05 | OTC, Open to Counseling. By Definition.

PGI #133 2022-10-12 | Radical Transparency. Candid Conversations

PGI #134 2022-10-19 | Candid Conversations, All About It

PGI #135 2022-10-26 | OTC HA. Ask Us, Learn More.™

PGI #136 2022-11-02 | OTC HA Guiding Principles → 8 Words

PGI #137 2022-11-09 | Got Hearing?™, A Choice Matter

PGI #138 2022-11-16 | Got Hearing?™, A Primary Care

PGI #139 2022-11-23 | Attitude of Gratitude, Gifts of Hearing

PGI #140 2022-11-30 | Your Top Docs, Get A Round Tuit

PGI #141 2022-12-07 | Gifts of Hearing, Team Efforts

PGI #142 2022-12-14 | 2023, A Sense of Optimism.

PGI #143 2022-12-21 | Customized or Commoditized, Experience the Difference.

PGI #144 2022-12-28 | 2023 Success, Let’s Resolve.

PGI #145 2023-01-04 | 2023 Planning, In Review.

PGI #146 2023-01-11 | Powerful Moments, Remarkable Impact

PGI #147 2023-01-18 | Elevate Positives, 9X Better

PGI #148 2023-01-25 | Get Insights, Tripping Over Truth

PGI #149 2023-02-01 | Be Proud, Multiply Milestones

PGI #150 2023-02-08 | Healthy Connections, What Matters

PGI #151 2023-02-15 | Super Goals & Winning Ways

PGI #152 2023-02-22 | Mutual Understanding, Speaks My Language

PGI #153 2023-03-01 | Health Literacy, All-Inclusive.

PGI #154 2023-03-08 | To Help More People, Speak Their Language

PGI #155 2023-03-15 | Educational Climate, Change For the Better

PGI #156 2023-03-22 | Multilingual Marketing, Just Keep Nurturing

PGI #157 2023-03-29 | Good Humor, Healthy Hearing

PGI #158 2023-04-05 | Healthy Awareness, Made to Stick™

PGI #159 2023-04-12 | Clear Views, Made to Stick™

PGI #160 2023-04-19 | Brand Awareness, Made to Stick™

PGI #161 2023-04-26 | Motivational Messages, Made to Stick™

PGI #162 2023-05-03 | Better Growth, Outsmart, Don't Outspend

PGI #163 2023-05-10 | Better Time, Better Ways

PGI #164 2023-05-17 | Internal Locus of Control, Just Makes Sense

PGI #165 2023-05-24 | Center of Excellence, Educationally So

PGI #166 2023-05-31 | Dementia Awareness, Join the Fight

PGI #167 2023-06-07 | The Longest Day, An Opportune Catalyst

PGI #168 2023-06-14 | Dual Sensory Loss & Dementia, What Research Indicates

PGI #169 2023-06-21 | Positively Contagious, Virtuous Cycles

PGI #170 2023-06-28 | Outsmart, Don’t Outspend, Déjà vu

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