Healthcare joins the Membership Economy

When I talk to healthcare professionals about the Membership Economy, they often say this:

"I see how principles of membership, subscription and community work for big tech companies like Amazon, LinkedIn or Spotify, but I don't think it applies to me"

Actually, dentists, doctors and other healthcare professionals have much to gain from membership.

The Membership Economy is a massive transformation that is changing consumer expectations about how they are treated and creating new possibilities for organizations to connect with the people they serve.

Many healthcare practices are seen as commodities, not differentiated from other practices at all, except maybe by type of insurance or geographic location. And most are still very transactional in mindset, as opposed to focusing on the long term relationship. 

And yet, there is tremendous opportunity here.

Three Steps to Membership

To join the Membership Economy, here are some simple things you can do.

#1 Take a step back and define your "best patients"--most likely, they are people who go beyond paying you on time, but also value their health, feel a connection to your practice and maybe even serve as an evangelist, recommending you to their friends. Look at what these people have in common. Are they mostly parents of young kids? Do they appreciate your sophistication around preventative care? Have they had a history of bad experiences with other physicians and find you a welcome and refreshing exception? As Sy Sims used to say "An educated consumer is our best consumer". Write a list of your best patients, and your worst patients--and start developing a prototype.

#2. Consider what these best patients really want from you. Trust me, it's not "fill my cavity" or "give me some shots". It's probably something like "help me feel confident that I'm responsibly attending to my health, with minimum discomfort and inconvenience, all at a fair price" That desire is the forever promise you need to have with them. 

#3. Now, rethink your processes and how you package services to deliver on that forever promise. For example, some people might need more frequent check ups. Or maybe they need to understand how you are on the cutting edge of particular health trends. Or maybe you need to offer fixed annual pricing that covers all preventative maintenance, no matter how frequently they stop in or call with a question. You might even initiate regular outbound calls, texts or emails to check in with patients to make sure that they don't have any nagging concerns. Use today's technology to communicate with them and maybe even to let them communicate with one another.

The idea of membership is to make your patients feel like they belong and like you're taking care of them. They want access to the best health and information and they want personalization. Concierge medicine is moving in this direction, as are new organizations like One Medical.

Better Ways to Spend Your Marketing Budget

If you're thinking about how to spend your marketing budget, stop it with the postcards. The best way to spend your new patient acquisition budget is to make it easier for your patients to make referrals. Do you ask your patients regularly for referrals? Is there a link on your website or in your emails to "click to send" a recommendation to a friend? Do you use testimonials? 

Think of membership as a club, and your patients as members of that club. Treat them the way you treat your family members and close friends when they call with a question or concern. A good metaphor for member-care is "like having a Dentist/Doctor in the family". Let that guide your practice and communication.

By optimizing your practice around your best patients, and continuing to evolve your delivery and communication to help them achieve their goals, you will develop a competitive advantage that will sustain your relationships with patients and grow your practice in a way that is fulfilling and rewarding.

Robbie Kellman Baxter is the founder of Peninsula Strategies LLC, author of The Membership Economy, and and a LinkedIn Learning course author.

Her clients have included large organizations like Netflix, SurveyMonkey, and the National Restaurant Association, as well as smaller venture-backed start-ups. Over the course of her career, Robbie has worked in or consulted with clients in more than 20 industries.

As a public speaker, Robbie has presented to thousands of people in corporations, associations, and universities. She has an AB from Harvard College and an MBA from the Stanford Graduate School of Business.

Robbie has co-created several Lynda/LinkedIn Learning courses including Becoming an Entrepreneur Inside a Company, CMO Foundations, Networking for Sales, Business to Business Sales, Customer Success, Business Development, Create a Membership-Based Business or Develop a Service Orientation. 

Click here to join Robbie's mailing list. Find Robbie on Twitter @robbiebax.

Contact Robbie at [email protected] to set up a complimentary call and find out how she works with companies.

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