Target Your Referral Sources
By Paul Martin, PT, MPT, CBI, M&AMI
The rehabilitation industry has seen more consolidation over the past 18 months than in the past 10 years. Large private equity–backed companies are acquiring practices and partnering with former owners in markets all over the country. So in addition to the former owner staying with the new company, these companies have significant resources to put in place large-scale marketing efforts to a wide span of referral sources. So how can you compete?
Consider a targeted and thoughtful approach to your referral sources. What special programs can you offer to your referral sources? What are unique service elements that you can offer to your referral sources? What innovative systems can you put in place to make the referral process as efficient as possible for your referral sources? Do not continue large-scale, general marketing efforts, but instead, really target, innovate, and then directly promote you and your service to a focused group of referral sources.
Paul Martin, PT, MPT, CBI, M&AMI president of Martin Healthcare Advisors, is a nationally recognized expert on health care business development and succession planning. As a consultant, mentor, and speaker, Paul assists business owners with building value in their companies. He has authored The Ultimate Success Guide, numerous industry articles, and weekly Friday Morning Moments. He can be reached at firstname.lastname@example.org.