Prospective patients have become active participants in their healthcare journeys, actively researching providers online, comparing treatment options, and making informed healthcare decisions.
Research shows 72% of patients now rely on online reviews and ratings to choose a healthcare facility or physician. With competition in the industry growing, healthcare providers starting a new medical practice should implement strategic, data-driven patient acquisition strategies to grow their practice and boost revenue.
In this guide, we will provide proven strategies to help practices acquire new patients, build a loyal consumer base, and stay competitive.
Patient acquisition is a strategic process designed to attract and engage new patients through various digital and traditional marketing efforts. This approach helps healthcare practices raise awareness, build a strong reputation, and ultimately convert patients to choose their care services.
With over 1,109,460 active physicians in the United States as of May 2024, the healthcare market is increasingly competitive. To stand out, new practices must go beyond traditional methods and invest in a strong digital presence to attract and retain digitally-savvy patients who rely on online research and reviews to make informed healthcare decisions.
The Importance Of Patient Acquisition Funnel
A patient acquisition funnel is a strategic framework designed to attract, engage, and convert potential patients into loyal clients. It is crucial for connecting with the right patients at every stage of their journey. A well-optimized patient acquisition funnel not only automates the process of onboarding new patients but also enhances their overall experience. The key stages of the new patient acquisition funnel include:
- Awareness
- Consideration
- Conversion
- Retention
Each step influences the patient experience and guides them toward choosing your practice and remaining committed over the long term. As Jacob Ader, Julien Boudet, Marc Brodherson, and Kelsey Robinson note in a McKinsey article:
Patient acquisition and retention are two different yet interconnected aspects of a healthcare practice’s marketing strategy. Patient acquisition involves attracting new patients to your practice, whereas patient retention focuses on keeping existing patients engaged and returning for ongoing care.
Acquiring new patients is essential for growth, but retaining existing patients is equally important for long-term success. Research shows that acquiring a new patient can cost up to five times more than retaining an existing one.
Therefore, it is crucial for a new healthcare practice to combine patient acquisition and patient retention strategies, as doing so can increase the lifetime value of each patient and maximize the return on their acquisition investments.
A strong online presence is essential for healthcare practices to attract and retain patients in today's digital-first world. Below we will cover some of the most effective digital marketing strategies to help your practice grow:
Search Engine Optimization (SEO)
According to the 2022 healthcare trends report, Google is the top platform patients use to search for healthcare services. Patients trust Google more than social media and health information services websites like WebMD and Healthgrades when looking for physicians and hospitals.
This makes search engine optimization (SEO) an important strategy for any medical practice. By optimizing a website for Google, healthcare providers can increase the chances of their practice appearing in search results when potential patients look for services like theirs.
It is also important to focus on local SEO because most patients search for healthcare providers near their location. Moreover, healthcare providers should also build and optimize their Google Business Profiles, as these profiles are important for enhancing visibility and attracting local patients in search results.
Social Media Marketing
Social media provides an excellent opportunity to connect with potential patients. New medical practices should establish their presence on platforms such as Instagram, Facebook, TikTok, and Twitter to build brand awareness and establish themselves as a trusted authority in the healthcare community.
Recent statistics also show that approximately 90% of Americans turn to social media for health-related information. Active participation on these channels can enable practices to engage effectively with potential patients and enhance their visibility.
TikTok, in particular, has emerged as a powerful tool for healthcare marketing. A survey by Charity RX reveals that 1 in 5 Americans consult TikTok for healthcare advice before their doctor. This platform presents a significant opportunity for behavioral health providers because its younger user base, which includes individuals in their teens to early 30s, is more open to discussing mental health issues.
Online Advertising
Online advertising is a powerful tool for reaching potential patients and driving traffic to your healthcare practice. You can use pay-per-click (PPC) and display ads to place targeted advertisements in front of your ideal audience.
Social media platforms like Facebook and Instagram offer a vast user base and advanced targeting capabilities. With over 3.07 billion monthly active users, Facebook provides a massive opportunity to reach potential patients.
However, it is important to ensure compliance with HIPAA regulations when advertising on these platforms. Avoid using Meta's tracking pixels on your website and refrain from uploading patient email lists or building lookalike audiences to protect patient privacy.
Focusing on patient-centric care is another way to ensure successful patient acquisition and retention. Some of the common reasons why patients switch practices include:
- Poor communication
- Lack of personalized services
- Poor customer service
In this section, we will explore a few strategies that help new healthcare facilities encourage patient loyalty.
Website And Online Booking Systems
A well-structured website can be a powerful lead-generation tool for your medical practice. You should add clear and strategically placed call-to-actions (CTAs) that can guide visitors to take certain actions such as contacting your practice, filling out an online application form, or booking an appointment.
An online booking system can further enhance this process by offering patients the flexibility to schedule appointments at their convenience. This feature is especially appealing in today's digital age, where patients prefer the ease of booking appointments online rather than calling during office hours.
Patient Communication Tools
Effective communication is a cornerstone of patient satisfaction and retention. A recent study found that nearly 70% of patients are more likely to choose a provider that offers reminders for follow-up care via email or text.
It is important to offer modern communication tools such as automated reminders, text messaging, and telehealth. These tools not only provide convenience but also enhance the patient experience by ensuring timely and clear communication.
Patient Education And Content Marketing
Educating patients on maintaining a healthy lifestyle can be a good way to attract and retain patients. With content marketing strategies like educational blogs, videos, and newsletters, you can position your practice as a trusted source of medical knowledge. This not only helps patients make informed decisions but also strengthens patient loyalty.
To effectively acquire new patients, it’s essential to target a mix of digital and traditional healthcare marketing strategies. For a practice that's just starting out, prioritizing partnerships with local businesses and engaging with the community can be highly beneficial.
Collaborations With Local Providers
Collaborations with other healthcare providers and local businesses can help enhance your patient acquisition efforts. For example, a dentist could collaborate with a local orthodontic practice to provide the best possible care for the patient.
Essentially, these collaborations create mutually beneficial opportunities for businesses and patients alike. The orthodontic practice can refer patients needing routine dental care, while the dental practice can direct its patients to the orthodontic practice for specialized treatments.
Community Events And Health Fairs
Participating in community events and health fairs is an excellent way to connect with local residents and raise awareness about your practice. These events offer opportunities to engage directly with potential patients, build trust, and establish your practice as a valuable community resource.
Dr. Asia Payne, a physical therapist, highlights the effectiveness of community events in LeadSquared’s Patient Acquisition masterclass. She notes how attending health fairs and offering giveaways like free screening coupons or answering questions helped her new practice gain recognition and attract new patients effectively.
Online reviews can be a powerful patient acquisition strategy, with 73% of patients considering them a key factor when choosing a healthcare provider. Encouraging satisfied patients to share their experiences on medical review platforms like Google and Healthgrades can enhance your practice's reputation.
You can simply ask them in person at the end of their visit or follow up with a personalized email or text message that includes a link to your review page.
Additionally, you can attract new patients by offering incentives or rewards to patients who refer new patients to your practice. This can be a powerful way to expand your patient base and build loyalty.
Effective patient acquisition is essential for the success of any healthcare practice. Providers should use a combination of healthcare marketing strategies to attract new patients and achieve revenue goals. When budgeting for the cost of starting a new medical practice, it is important to account for both initial and ongoing patient acquisition efforts.
The ratio of patient lifetime value (LTV) to patient acquisition cost (CAC) is a crucial metric for evaluating the effectiveness of your marketing efforts. A high LTV/CAC ratio indicates that the net profit from a patient significantly exceeds the cost of acquiring them.
Many healthcare IT vendors, like Tebra, also provide tailored solutions to enhance patient acquisition. For personalized assistance in selecting the right patient acquisition software for your practice, contact us at (661) 384-7070, and we will help you find the best option.