Let’s face it, it’s getting more difficult to earn a good living in practice. Practitioners are cutting prices, offering discounts, anything they can think of for getting more people through the doors. It’s getting crazy out there at a graduate level with more qualifying than are retiring, the percentage of patients per practitioner is going down.
You can follow the trend or go in a couple of different directions. You can rise above the competition by offering something different and unique or you can balance your income by offering add on’s in the form of products either sold in conjunction with your practice or as a distinct seperate income stream. You can of course do both. But with the trend going towards corporate, single practitioners need to work smarter not harder.
Unique, requires an understanding of you, your skills and how you can up regulate what you offer to ensure that you have cut a niche position in the market. We can certainly talk about this. I have developed a whole system around this and the need for inter professional generosity.
Product sales depends on you. What system would work best in your hands and not detract from your core business. Supplements and personal care products work but are low ticket taking up too much time for little return. High ticket health related products that benefit the patient are my preferred way forward.
The product must align with your values and be an authentic offering to your patients.
It should be a product that you don’t have to store, in other words no stock, rather sent straight from the manufacturer to the end user.
With the age of the internet you should be able to sell it both online and offline.
There should be an automated system in place that allows you to be relatively hands off.
The products must be sourced through a company with a proven track record to safe guard your professional integrity.
that’s about it so to recap, either
Niche — Rising above the competition
Products — Authentic, genuine, health promoting
or Both.
In this fast changing climate, the one thing we can’t afford to do is sit on the fence.
Scroll down for more info on Niche. Leave a comment if you would like to know more about the products I am currently using.
