By Marie Olesen
Success in cosmetic medicine involves an array of surgeons, non-surgical providers and ever-changing technologies. This complexity makes it harder to deliver highly-satisfying patient experiences that build strong brands, drive satisfaction and increase profitability.
Do you ever wonder what’s going on behind the closed doors in your practice or medspa? Are those patient encounters enhancing or diminishing your reputation and revenue? It’s an important question, whether your practice is all cosmetic or eligible for the Merit-based Incentive Payment System (MIPS) reimbursement.
Whatever your mode of practice, the opinions of your patients count. For the last twenty-nine years, I’ve been using patient feedback to guide changes in our practice, La Jolla Cosmetic Surgery Centre. Patient feedback, as expressed in ratings and reviews, can enhance marketing and the bottom line.
Great patient experience occurs over a series of encounters. Every touchpoint represents opportunity and risk.
“It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change.”
— Charles Darwin
Here are several examples of significant improvements in business outcomes that can be achieved by improving patient satisfaction. These examples show the correlation between satisfaction scores and business objectives. Lower scores impact the bottom line negatively while higher scores increase revenue and profitability.
Patients who are Highly Satisfied are more loyal and have greater lifetime value than those who report themselves as Satisfied with their patient experience. By understanding the nuances of patient satisfaction throughout the patient journey, you can increase profitability and competitive advantage.
This data from RealPatientRatings™ is for a single provider and could vary by provider, procedure, or office. It shows the opportunities associated with increasing patient satisfaction for the various touchpoints being measured.
For greater insight into revenue opportunities
for your practice, contact RealPatientRatings.