Doctor’s reviews contribute to 10% annualized revenue growth
(Re)View From The Top
Background: In 2014, a prominent celebrity dentist in the Chicago area found himself in an unfortunate position: his tried-and-true marketing strategies were beginning to erode and his annual billings were falling — to the tune of hundreds of thousands of dollars a year. He tried various strategies to improve the situation and met with some moderate success, but needed a more effective strategy.
Solution: In 2015, he implemented our popular Reviews Strategy to solicit more positive reviews using the automated review link. Because the doctor’s practice provided top-quality care, many patients were happy to go online to share their experiences by posting reviews. This, in turn, attracted other patients who were looking for top-notch of care. A spike in revenue occurred within months.
Results: Within a very short time period, he doubled his online reviews and experienced a $75,000 increase in revenue — equating to a 10% annualized revenue increase. “The uptrend continues in 2016 — this could be the best year ever,” he told us.
“The online reviews have really made a difference in terms of my practice’s bottom line,” he continued. “My patients are usually over 45 years old, and I think that has to be the biggest segment of people going online to make health care choices…These days, most new patients tell us they have seen us online. And even though our website has not changed yet, we are getting high-quality patients from the internet. The evidence is clear that this incredible Reviews Program is working for us. I particularly like that digital marketing works for us 365 days a year, unlike paper advertising, TV, or radio ads.”
Immediately, the surgeon and his practice staff began accumulating positive reviews — and as a result, the surgeon’s average review score surged upward within just a few months. By Fall 2015 the surgeon reached 71 reviews (from 47 in May), and his average review score went above 4.0. Over the next six months, using the CEATUS Reviews tools, his reviews doubled to more than 150 and his average score was nearly 4.8!
And although he employs only four people (including himself), the dentist’s practice is on track to earn $1.5 million in fee-for-service annual billings in 2016.
When asked if he was satisfied with his return-on-investment, he replied, “The profitability is through the roof. This is a must-have program for every dentist who wants to grow his or her practice.”