INTERVIEW: Business Perspective of Running a Laser Therapy Clinic
May 11, 2020
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This podcast discusses the benefits and challenges of integrating laser therapy into a practice from a business perspective, including the importance of referrals, advantages and challenges of incorporating laser therapy, the business considerations of running a laser therapy clinic, billing insurance and laser downtime, and the importance of pricing laser therapy services appropriately.
Investment in laser therapy equipment can have a quick return on investment, paying for itself within months of implementation.
Word-of-mouth referrals from satisfied patients and healthcare providers are more effective than paid advertisements in generating new patients for a laser therapy practice.
Deep dives
Key Point 1: The importance of considering the cost and return on investment of laser therapy
When incorporating laser therapy into a practice, one of the initial concerns is the cost of the equipment, which can be high. However, it is crucial to ensure that the investment in laser therapy is financially viable. One practitioner shares their experience of initially viewing laser therapy as just another modality, but soon realizing its potential for business success. Within three months, their practice saw a significant increase in patients and revenue. The return on investment was so impressive that the laser system paid for itself in just a couple of months.
Key Point 2: The power of word-of-mouth referrals in growing a laser therapy practice
In this podcast episode, the guest discusses the vital role that word-of-mouth referrals played in their laser therapy practice. They emphasize that paid advertisements were not as effective as referrals from satisfied patients and other healthcare providers. Patients who experienced positive results from laser therapy were enthusiastic about sharing their experiences with friends, family, and even other medical professionals. This organic spread of positive feedback led to a steady flow of new patients. The guest underscores the value of building strong relationships with other clinicians, which can result in referrals and a continuous stream of patients.
Key Point 3: Considerations for integrating laser therapy into a busy practice
Integrating laser therapy into a busy practice requires careful planning and efficient scheduling. The guest explains that their one-doctor clinic worked to optimize their system to ensure maximum efficiency. By analyzing the time required for different aspects of treatment, they were able to create a streamlined workflow. They scheduled laser appointments for 20 minutes, which encompassed the check-in process, treatment, check-out, and cleaning. Additionally, they strategically combined laser therapy with other treatments, such as adjustments, to make the most of practitioners' time and ensure profitability. They stress the importance of finding a balance in scheduling to take full advantage of the profitability and patient demand for laser therapy.
Dr. Rountree and guest, Cole Cluchey, discuss the benefits and challenges of integrating laser therapy into a practice from the business and administrative perspectives.