Izhak Musli, a serial entrepreneur and tech innovator in the aesthetics sector, shares invaluable insights into patient retention strategies. He discusses the importance of focusing on retaining existing patients rather than solely acquiring new ones. Izhak introduces his platform, Get Kudos, which enhances patient engagement and loyalty. The conversation highlights data-driven approaches and innovative feedback methods to improve satisfaction. They also explore how seamless communication can transform patient experiences, driving profitability in aesthetic practices.
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insights INSIGHT
Patient Retention is Goldmine
Patient retention is the most overlooked profit center in aesthetic practices.
Focusing on retention can significantly increase profitability beyond acquiring new patients.
insights INSIGHT
Focus Beyond New Patients
Practices overly fixate on acquiring new patients while neglecting existing ones.
Maximizing opportunities with current patients provides significant growth potential.
question_answer ANECDOTE
Data Inspired From Personal Journey
Izhak started building computer systems at age 13, eventually creating dashboards for medical aesthetic practices.
His experience revealed a data gap in aesthetics, inspiring development of platforms like Atlas KPI and Get Kudos.
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InTouch with Terri is brought to you by Podium: Podium is a platform providing AI-powered communication solutions for lead conversion and patient retention. In Touch with Terri listeners get their first month of Podium free CLICK HERE About Terri's Guest:
Izhak Musli Izhak Musli is a serial entrepreneur and a prominent figure in the SaaS and data analytics industry, particularly in the aesthetics sector. He is the Co-Founder of the 4S Summit and the Founder & CEO of Get Kudos, a next-gen platform aimed at enhancing patient retention and satisfaction in aesthetic practices. Musli has over 15 years of experience in leadership roles within technology-driven environments and has been instrumental in pioneering innovative solutions to improve practice efficiencies and profitability. His career milestones include founding Atlas KPI and contributing to the success of Apex Platform and Cimplast, showcasing his deep-seated expertise in business intelligence solutions.
Episode Summary:
In this enlightening episode of "In Touch with Terri," host Terri Ross reunites with her business partner and friend, Izhak Musli, to explore the transformative power of patient retention in the aesthetics industry. With Musli's extensive background in SaaS and analytics, the duo sheds light on the often-overlooked area of patient retention as a pivotal profit center for aesthetic practices. They discuss why practices should pivot from the continuous hunt for new patients and instead leverage innovative platforms like Get Kudos to enhance patient experience, drive loyalty, and maximize profitability.
The conversation delves into the critical challenges that aesthetic practices face, such as the heavy reliance on new patient acquisition and the neglect of existing patient relationships. Musli explains how Get Kudos disrupts this norm by providing frictionless solutions to engage and retain patients. They discuss the elements that make the platform a game-changer: from its intelligent flow design that sidesteps typical app downloads to how it turns patient satisfaction metrics into actionable business growth strategies. The episode makes a compelling case for reshaping practice business models to prioritize customer satisfaction, continuous feedback, and a well-oiled retention strategy.
Key Takeaways:
Patient Retention as a Profit Center: Izhak Musli highlights how focusing on patient retention over constant patient acquisition can significantly enhance profitability within aesthetic practices.
The Importance of Net Promoter Score (NPS): Emphasizing the value of understanding patient satisfaction, the episode explains how using NPS can refine business operations and improve patient experiences.
Frictionless Experience: Get Kudos offers a seamless patient interaction process without the hassle of app downloads or complex logins, making patient engagement more effective and user-friendly.
Revolutionizing Patient Loyalty: The platform not only boosts patient retention but also provides mechanisms for acquiring new reviews and patient referrals, which are integral to practice growth.
Strategic Business Insights: Through data-driven strategies, practice owners can reduce costs and increase revenue by enhancing the experience and loyalty of their existing patient base.
Notable Quotes:
"We are always trying to bring significant value to you in every podcast that we do." - Terri Ross
"It's almost sad to some degree, how often patient retention is overlooked." - Izhak Musli
"Customer service is the heart of any business. Sales achieve initial revenue, but it's service that builds sustainability." - Izhak Musli
"The fact that some practices are making money does not mean that everything is good." - Izhak Musli
"Stop to assume, manage it, and maximize the opportunity. It's that simple." - Izhak Musli
Get Kudos: Visit getkudos.ai to learn more about the platform and book a demo.
Connect with Izhak Musli: For direct inquiries, reach out via the contact options provided on the Get Kudos website https://4ssummit.com/
4S Summit Info: For more details, look up 4S Summit to understand its role in providing strategic business consulting in the aesthetics industry https://4ssummit.com/
Be sure to tune into the full conversation to uncover detailed insights into transforming your aesthetic practice by leveraging patient retention strategies. Subscribe for more episodes and stay informed about the latest developments and strategies in the industry
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