Gyl A. Kasewurm

 29,000 businesses started, 26,000 of them failed. Of the failures: ◦ 67% didn’t have a written business plan ◦ 57% had no outside guidance ◦ 71% had not taken any business courses

 Taking excellent care of your patients.  Having a diverse patient base ◦ Retaining your current patients ◦ Referrals from other health care professionals ◦ New patients from advertising  Providing multiple services

To help people hear well again along with being profitable !

 Roadmap for the future  Establishes a firm foundation

 Permits analysis of business ◦ Expenses/Cost ◦ Marketing ◦ Staffing Issues ◦ Patient management ◦ Competition

 Helps you stay competitive  Measures your practice  Sets Goals  Helps obtain Financing

Ability to set goals in front of staff Focus for quarterly review with all performance indicators Drives all other plans Goals, Objectives & Task Organization of the team

 Executive Summary  Business Section  Market Analysis  Financing Section  Management Structure

 Start new or buy existing?  Sole proprietor or partnership?  Incorporate?  Develop business with physician?  Become part of a network

EQUIPMENT AUDIOSCAN VERIFIT1$11,325 BIOLOGIC SCOUT OAE1$8,500 GSI 61 AUDIOMETER1$7,000 GSI TYMP STAR1$8,000 OTOLAB1$5,200 SOUND BOOTH1$15,000 VIDEO OTOSCOPY1$1,200 VRA EQUIPMENT1$1,100 TOTAL$46,000

OFFICE CHAIRS10$150$1,500 COMPUTERS3$700$2,100 PRINTER1$500 DESKS2$500$1,000 FILING CABINETS3$300$900 FLAT SCREEN TV2$1,500$3,000 FURNITURE1$5,000 LIGHTING1$1,000 OFFICE SUPPLIES1$1,000 CLINICAL SUPPLIES1$500 SOFTWARE NOAH1$2,600 QUICK BOOKS1$299 SUROUND SOUND SYSTEM2$1,000$2,000 TELEPHONES2$300$600 WIFI1$100 TOTAL$20,599

 CONSULTING  BRAND IDENTITY / WEB PAGE / MARKETING $20,000  LEGAL$3,000  TAX$1,000  TOTAL$24,000   BUILDOUT  ADDITIONAL BUILDOUT FEE 2,000 sq ft)$10,000  TOTAL$10,000   TOTAL  EQUIPMENT$46,000  OFFICE$20,599  CONSULTING$24,000  BUILDOUT$10,000  GRAND TOTAL$100,599 

 When to hire an employee?  When can you afford to pay yourself?  What to charge for products and services?

Increase number of new patients Increase average sale of current patients Get current patients to purchase more frequently

 “Help rate? It’s at least 95%.” Should read….  “65% help rate. Hmm… let’s look into some training.”  “I think I binaurally fit about 90% of patients.” Should read…  “A 60% binaural rate? We need to work on that.”

Financial Average Selling Price Cost of Goods Marketing ROI Hearing Aids Sales % Diagnostic Sales % Repairs Sales % Net Profit Non-Financial Units / Month Closing Rate Binaural Rate Resell Rate Return for Credit Exchange Rate Tested Not Sold

 Referral Sources  New or previous patients  Binaural or monaural candidate  Help ratio  Product mix  Returns & exchanges  # of 3 rd parties present

 Surround yourself with successful people  Network with community and professionals  Establish balance in your life  Never look back – only forward  Go for it!

Backbone of the professional practice. Shapes and supports business entity of the clinical practice. Lays out strategies and tactics to capitalize on opportunities. Helps guide through crisis. Dynamic process – always in flux.

 Primary Care  ENTs  Pediatricians  Dentists  Podiatrists  Chiropractors  PTs  OTs  Nurses

 Make your website a dynamic source of information for patients  Include information that will attract viewers  Keep it current  Online live chat

 Never judge a patient’s ability to consume!

 Learn to delegate

 Deliver outrageous customer service

Patient satisfaction is the goal!

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