Medical Marketing and Patient Acquisition Best Practices – A Five Year Study
Red Spot Interactive Releases White Paper Analyzing $100mm in New Patient Revenue and 100,000 Consultations from over 200 practices.
March 28, 2017 – Red Spot Interactive released today the nation’s most in-depth study to date on best practices for elective healthcare marketing and patient acquisition. The results and conclusions are the product of a five-year study that analyzed over $100,000,000 in new patient fees generated from over 1000 unique advertising campaigns and over 100,000 consultations across 200 practices. The practices involved plastic and cosmetic surgeons, orthodontists, dermatologists, and ophthalmologists with a focus on Lasik marketing.
“Due to the continued growth in direct and indirect competition for elective healthcare practices accompanied by a dynamic advertising market, medical marketing has become more complicated than ever,” stated Jason Tuschman Chief Executive Officer and Co-Founder of Red Spot Interactive. “For practices to survive and grow they must understand the key performance indicators and activities associated with growing their profits from marketing. If they are not able to measure their profits from marketing, they are wasting money and time!”
Red Spot Interactive analyzed over 1000 plastic surgeon marketing, orthodontics marketing, dermatologist marketing, and ophthalmologist marketing campaigns. The practices with the highest return on investment from their marketing budgets clearly tracked their ROI from all marketing activities, connected both their revenue and marketing data into one usable set of key performance indicators that the entire practice monitored, and leveraged marketing automation technology to help scale their practice. Red Spot Interactive generated a detailed road map for profit driven marketing systems within the case study so that medical practices could easily take advantage of the conclusions from the paper. “Nearly every practice in this study generated over a 300% return on investment from their marketing activities when integrating their marketing and patient acquisitions systems into a single process and set of data. With today’s advancements in technology and the low-cost solutions available, there should not be a practice in the United States advertising without understanding their return on investment from both their marketing and the activities of their office associated with the patient acquisition. Not understanding your lead generation sources, a number of missed phone calls, time to respond to an email lead, or automating your lead management and patient retention activities creates financial opportunity costs that no one can afford.”
The study clearly identifies the best practices for profitable patient acquisition and retention while at the same time detailing the key performance indicators a practice should monitor. If you would like a copy of this white paper, please click here.
About Red Spot Interactive
Red Spot Interactive (RSI) increases elective healthcare practice profits through its proprietary analytics software, patient acquisition and retention automation technology and marketing and patient scheduling call center services. RSI’s clients have generated over $100 million in new patient fees and 100,000 patient consultations since 2011. For more information, visit www.redspotinteractive.com.