The Successful Practice Triad — with Catherine Maley, MBA (Ep. 227)

Beauty and the Biz

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Hello, and welcome to Beauty and the Biz where we talk about the business and marketing side of plastic surgery, and the successful practice triad.

I’m your host, Catherine Maley, author of Your Aesthetic Practice – What your patients are saying, as well as consultant to plastic surgeons, to get them more patients and more profits.

Now, today’s episode is called "The Successful Practice Triad — with Catherine Maley, MBA ".

A big mistake I see when consulting with plastic surgeons is that they lack vision, clarity and a plan. Too many are “winging it”.

• They try something for a bit and quit instead of focusing on the successful practice triad.
• They listen to a sales pitch, buy, and assume it’s a new profit center without much more thought, instead of focusing on the successful practic triad.
• They hire staff fast because they need to fill positions, instead of adhering to the successful practice triad.

This sporadic way of running a practice in “reactive” mode creates unnecessary chaos so this should help....

This week’s Beauty and the Biz Podcast episode is me laying out my simple framework called,

The Successful Practice Triad for Plastic Surgeons

It’s simple. When you focus on the successful practice triad consistently, your work life gets better.

You have better-quality leads coming in that don’t waste your time, because you are using the best marketing channels given your circumstances and geographic location. Your messaging and branding is on point.

You are strategically encouraging prospective patients to contact you, rather than simply “like you”. You are attracting patients who care more about you than the lowest bid.

I go into a lot more detail in this podcast with take-a-way tips you can use right away.

P.S. Here’s an interesting stat....most millionaires are small business owners, not Doctors.

What’s funny is that many of these millionaires didn’t even go to college. What’s the difference between you and them?

Nothing.

They’re just good at business and marketing, and know things that you don’t. It’s time to change that.

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Transcript:

The Successful Practice Triad — with Catherine Maley, MBA​

Welcome to Beauty and the Biz. Discover how to grow your practice with effective cosmetic patient attraction, conversion, and retention advice from author, speaker, trainer, and cosmetic practice business and marketing coach, Catherine Maley, MBA. Hello and welcome to Beauty and the Biz, where we talk about the business and marketing side of plastic surgery.

I'm your host, Catherine Maley, author of "Your Aesthetic Practice, What Your Patients Are Saying", and consultant to plastic surgeons to get them more patients and more profits.

Today's episode is called "The Successful Practice Triad for Plastic Surgeons". Now, it takes a lot of time, money, and effort to set up a successful plastic surgery practice, and the percentage of time, money, and effort changes as you change and grow.

For example, when you're just starting out, you have way more time than money. So, you may use it to create social media content. network with non-competing providers who can refer you and handle your own administrative tasks. And then as you grow, you get busier and have less time. So, you hire people to do the admin, test advertising channels and network for you.

Now, you're more focused on surgery and have some breathing room since others are taking care of things you no longer want to do. or are even good at. But then, never fails, something happens. Google changes the algorithms, your key employee quits, and or you get banned on social media for who knows why.

Now, you're back to square one and have to put more time, money, and effort into rebuilding and so it goes. Now, it doesn't really have to be that way because when you set up your practice like a business, you have clarity of who you are. What you want in terms of goals and values and you focus on the most important aspects to keep your practice healthy and profitable.

But a big mistake I see when consulting with plastic surgeons is that they lack vision, clarity, and a plan. So, too many are winging it. They try something for a bit and quit. They listen to a sales pitch, buy, and then assume it's the latest new profit center without much more thought. They hire staff fast because they need to fill positions and on and on.

By the way, this podcast that I've interviewed so many surgeons on, the majority of them say their number one challenge is staffing issues. For example, finding good staff, making sure staff is doing their jobs, Handling staff conflicts and creating a culture of teamwork versus backstabbing. And a lot more goes into that.

So, yes, staffing can be complicated because you are dealing with human emotions, beliefs, and personalities, but there's plenty you can do to get control over it and the rest of your practice. So, to help, I developed this simple framework and it's called the Successful Practice Triad for Plastic Surgeons.

Now, it's simple. When you focus on at least these three main variables consistently, your work life gets easier and better because you have better quality leads coming in that don't waste your time because you're using the best marketing channels. Given your circumstances and your geographic location, your messaging and branding is also on point and you're strategically encouraging the best quality prospective patients to contact you rather than simply like you.

You're attracting patients who care more about you than the lowest bid. So, leads are the first pillar of the successful practice triad. Now, the second pillar of the successful practice triad is converting those leads. Leads are only one part of the equation. They've got to be converted into a book consultation and then a paid procedure or all is lost.

For example, your front desk staff represents a huge untapped opportunity for you, but it's often taken lightly. How much do they know about converting phone calls into appointments?

Now, my team and I have been mystery shopping practices for over 20 years and it's shocking what you don't know is being said by your front desk that directly affects your image and your reputation. Also, do you have the right patient coordinator? Now, the coordinator with the right character, mindset, and skills can take your practice revenues from just enough to pay the bills to a windfall every month because they know how to book patients.

Cosmetic procedures. Now, this position cannot be taken lightly either. You may think anyone can step in to do the job of a coordinator, but you'll see by the lack of book surgeries, that is just not true. Converting consultations is an art and trained skill. It takes the right strategies, knowledge, and then lots of practice to get good at confidently taking a stranger patient to a paying cosmetic patient.

Now, the staff you bring on to represent you professionally must have the right mindset, attitude, people skills and training to keep you busy and profitable. And it's a lot easier to find, manage and motivate staff when they have clarity scripts and processes to keep them focused. Now, lastly, the third pillar of the successful practice triad for plastic surgeons is accountability.

Now, Webster's Dictionary says the definition of accountability is the obligation or willingness to accept the responsibility for one's own actions. Now, there are four key areas of accountability that change everything for your practice growth when you implement them. And here they are. Clearly defined goals, assigned to specific team members.

With clearly mapped out behavior metrics, they will follow to reach those goals and then regular check ins to evaluate Results and get their feedback. By the way, there's plenty of technology and apps available today to help you track everything like Which marketing and advertising efforts are bringing in the best leads.

The lead response time The percentage of callers booking appointments, your coordinator's conversion rate, who's following up on leads and how's that going? How many referrals and reviews are you getting? And so on. Now, when you have a good handle on your efforts and your results, your practice runs more smoothly, your staff is more productive, and you're making more money with less hassle.

And there you have it. The successful practice triad. And once again, the three pillars are leads, converting, and accountability. So, knowing this, now what do you do? Well, they say knowledge equals power, but that's only true if you execute that knowledge. So, here's a question for you. Are you making multi millions a year and having fun while doing it?

Now, if not, The solution to these problems is clarity on what you're doing because the solution to turning your practice around isn't about working harder. This is one of the biggest mistakes the plastic surgeons make. They believe that making more money means working longer hours and nothing could be further from the truth.

In fact, this is actually counterproductive. The goal is to work smarter, not harder. And you need to get out of your own head. The problem is that you're too close to your business. You're just too involved and you can't see the forest from the trees. But this is why it's so important that you get a second opinion.

Because the only difference between more successful surgeons and you, is that they know something you don't know. That's really all there is to it. And here's another secret. These surgeons stopped trying to figure it out on their own. After all, what's the fastest way to achieve success? It's to model what other successful surgeons are doing.

So, I developed a nine-step process when working with cosmetic practices to up level to a profitable practice they are proud of. And here they are. So, number one is your vision. We start by creating a vision for your practice. Now, this helps you get the clarity of where you are. where you're trying to get to, and what's holding you back.

And as I said before, the big thing here is that you get an outsider's perspective. You also need insight into the ways that other surgeons have solved their problems. Now, with my help, you can achieve both of these goals. You'll get out of your head and see what's actually going on. This paradigm shift allows you to focus on what's actually important and sees what's really holding you back.

Now, here's number two, your key performance indicators, affectionately known as KPIs, because what gets measured gets improved. Now, sadly, most surgeons don't track enough, or they're tracking, but they're tracking the wrong things. Now, we would do a deep dive into your data and identify your KPIs to learn what's really important.

You'll figure out where resources are going to waste, what's costing you time, money, hassle, and sleepless nights, plus how to address and fix these things. Then number three is Phone Mystery Shopping. It's a fact. Bad phones cost you hundreds of thousands of dollars per year, and you don't even know it. So, Phone Mystery Shopping is one of the most powerful tools ever invented to getting your front desk into gear.

It's also one of the best tools for training and improving their effectiveness. Now, my team will mystery shop your practice and provide insights into how staff can handle callers better, so they book rather than hang up and call your competitors. Number four is customized lead converting training, because here's the ugly truth.

You are leaving money on the table and it's mostly due to your staff. They need to learn how to convert callers into appointments and consultations into paid procedures. Now, with my help, you're guaranteed to increase conversions by at least 15%. Now, 15 percent can easily be worth a half a million or more when your staff are properly trained.

Now, what could this extra money mean to your practice? You could pay down your debt, save for retirement, go on vacation. or upgrade your office and equipment. The possibilities are endless and the solution is easy. I create customized interactive training on the following topics. Training number one is how to turn your phone calls into profits.

This is for staff who answer phones and includes five points which must be covered on every call for the best possible result. And how to strategically close callers and do it without sounding salesy. And how your front desk can position you as the best choice. Then there's training two, and it's called Prospect to Patient, How to Get a Patient to a Yes.

Now, this training is mainly for your patient coordinator, although all staff can benefit from it. And the topics include how to frame and position you as the best choice before the consultation, how to deal with the question of prices, patients who want to negotiate, and patient objections, and how to close the consultation without applying pressure or being too pushy.

And then there's training three, which is called cross promoting all of your services. Now, the easiest way to a cash surge is to increase the lifetime value of each patient. That means no extra budget for advertising is necessary. So, the topics include simple strategies to introduce all of your services in clever fun ways so patients want to give you more money, and how to combine products and services so patients get a wow result, and customer service skills so patients give you all of their disposable income and not just some of it.

For number five, it's your patient's experience because customer experience is everything. Every asset of your practice plays into this from the moment patients call your office, walk through your door, go through your process to the moment they leave. And I'll show you how to provide the best patient experience possible, plus how to do it with the least amount of effort.

Now, we'll go through your current process and determine what's working and what you can improve upon. I'll also point out mistakes being made and how to correct them. Very few practices realize how much money they're leaving on the table due to poor customer experience. This is one of the simplest things to correct and I'll show you how.

Now, number six is your new patient attraction and conversion blueprint. Without a constant stream of new patients, you don't have a business. For You know, this is why it's critical that you figure out your patient attraction strategy. Now, you'll see how to do this with my proven new patient attraction and conversion blueprint.

This gives you a step-by-step formula for booking out your practice with new and existing patients. We'll also take a look at your current marketing efforts and determine what's working and what isn't. This way you spend money on things that are actually effective and you stop spending money on things that don't work.

Now, we'll examine the ROI of your marketing efforts, look at your sales funnel, and find ways of improving your conversion rates. This includes every step of the lead process from receiving inquiries to booking patients and beyond. Now, with my help, you'll convert as many leads as possible and avoid losing money.

Number seven is a follow up assessment and evaluation report. Now, I'll assess and evaluate your practice based on your strengths, your challenges, and strategies for improvement. You'll get a checklist of things to prioritize and work through. This gives you a list of actionable items and a playbook for achieving your goals for the rest of your career.

Now, number eight, I'm going to also give you a one-year marketing plan. This includes a tailored marketing plan and follow up process that contains measurable timelines. This way you can stop worrying where the money will come from and start enjoying a steady and predictable stream of income throughout the year.

By the way, if you're too busy to execute this plan, then my staff and I can do it for you, but just know you're not obliged to use my services. And then for number five, it's ongoing support. It's really important that you stay on track, stay motivated. get additional advice and put these ideas into action.

Now, this is especially true after my onsite visit. I need to make sure that you're actually making progress and using my strategies. This is why we conduct weekly strategy calls, as well as unlimited email and text access directly to me. You can also use this time to ask questions and get additional clarity on topics such as practice building, patient attraction or staff training.

So, right now you're probably thinking, Is all of this really worth it? Now, the best way of answering this is by looking at your numbers. For example, take your current income and increase it by 15%. Now, how much would that work out to? At least an extra 100 grand, 400 grand, 600 grand, more? So, what if... A few simple tweaks could produce this type of income in weeks rather than months and years.

Now, here's another way to look at it. My fees are a drop in the bucket compared to what you get. I know this because no surgeon has ever said that time working with me was a waste. And at the end of the day, you have to start thinking like a business person. And this means investing money into your practice.

So, you do have a decision to make here. Choice number one is, you just keep doing what you're doing, and you can get the same results, but you might be wasting 5, years going around in circles, not reaching your goals and wondering what happened. Or there's choice number two, you can work with me and solve these problems once and for all.

Now, you get access to the best and most effective strategies for running your practice and getting to where you want to be. It's really that simple. Now, I've done this for countless surgeons. I can do it for you. You just need to take a leap of faith and believe you've already invested money into your education and your practice.

Why not invest a little more? The reality is that you need to learn the business and marketing side of things. Unless you do this, you'll never reach your full potential as a surgeon. Not only that, everything you've invested so far will go to waste. Now, that might sound harsh, but it's really true. It's also true that you need to handle this problem.

Now, every day you delay, this affects your life down the line. It affects your future health. happiness and eventual net worth. It affects your ability to save for retirement, your family life, and your work life balance. For example, imagine retiring 10 years earlier and doing it well. Imagine enjoying as much free time as you like.

Imagine a rock-solid relationship with your family members. Imagine being free of stress, debt, and problems. Imagine owning the home of your dreams or the car you've always wanted. And here's one more fact to consider. Most millionaires are small business people, not doctors. What's funny is that many of these millionaires Didn't even go to college.

What's the difference between you and them? Nothing. They're just good at business and marketing and know things that you don't. It's time to change this. If you're ready, just go to my website at www.CatherineMaley.com and click on a button called ‘Schedule a free 30-minute strategy call’. Or you can always text me at [phone].

And let's talk about how to set you up for a profitable future. I hope that was helpful to you. And that wraps up this episode of “Beauty and the Biz”. And if you haven't done so already, please subscribe and share this with your staff and colleagues. And just one more time, go to www.CatherineMaley.com click to schedule a call with me and I'll reach out to you shortly.

Thanks so much. And we'll talk again soon.

We hope you found valuable insight on this episode of Beauty and the Biz. For more episodes, tools, and Catherine's free book, visit www.CatherineMaley.com. That's www.c a t h e r i n e m a l e y.com. And be sure to subscribe to get the latest practice building strategies delivered to you.

And don't forget to share this Beauty and the Biz podcast with your staff and colleagues.

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