Category: Growth Strategies

Growth Strategies

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Future Ear Podcast: Life for Audiologists & Private Practice Owners from March-June 2020

A new “Future Ear” podcast by Dave Kemp of Oaktree Products features great ideas and perspectives from six audiologists in different parts of the United States. The podcast highlights the uniqueness of some of the individual work situations and regions, and includes several excellent tips about how to adapt a practice in the wake of the Covid-19 pandemic and recovery.

Growth Strategies

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The Costco Effect

Does the presence of hearing aid dispensing Costco locations influence nearby private practices’ hearing aid revenue and average sale price performance? This study analyzes the relationship between the proximity of Costco locations and Audigy members’ hearing aid sales performance. Results indicate nearby Costco locations have a neutral to weak positive impact on Audigy members’ hearing aid revenue and average sale price.

hearOclub: Battery Club Services in Partnership with Dispensing Offices

With progressively severe hearing care office closings, travel bans/advisories, and general uncertainty on the horizon, hearOclub can help your patients get their hearing aid batteries while minimizing disruptions and keeping patients engaged with their hearing care professional. HearOclub is a new hearing aid battery club service designed for partnership and revenue-sharing with hearing care professionals.

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Competing in the New Era of Hearing Healthcare, Part 3: Differentiating the Practice with Product and Technology

Adding value to the patient experience requires change. The use of innovative products and technologies in a hearing healthcare practice is essential for survival—and it is expected by patients. Why send patients to the internet or electronic stores for products that can be offered in the practice and increase the patient experience? Why not use technology to improve practice procedures and efficiency?

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Competing in the New Era of Hearing Healthcare, Part 1: Developing a Sound Competitive Strategy

Should you try to compete on price, focus on a specific audiological niche like pediatrics or implants, or differentiate your practice by creating a unique patient experience? Longtime private practice audiologist, Robert Traynor, EdD, MBA, explains how to “avoid getting stuck in the middle” and instead develop a competitive strategy that is right for your hearing healthcare practice and right for your market.

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Service-Delivery Considerations of Direct-to-Consumer Devices in the New Age of Rehabilitative Hearing Healthcare

While hearing care professionals might perceive OTC/DTC as a threat or detrimental to their professional autonomy and livelihood, authors Rupa Balachandran and Amyn Amlani show how there are opportunities to meet the demand of listeners with impaired hearing through the provision of revenue-generating professional services. These service opportunities allow for the preservation of the independent practice channel for those practitioners who understand and recognize the economics of the transformed, and continually evolving, US hearing healthcare environment.

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Are You “Clued-in” to Offer the Ultimate Patient Experience?

While most practices have neither the Imagineers nor unlimited financial capabilities to create an audiology clinic for a “Disney experience,” practice managers should realize that every patient visit to the clinic has to be an unexpected positive experience to turn them into a loyal, repeat customer.

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