Revenue From a Physician Referral Network
ReferralMD reported that a third of patients are referred to a specialist each year. Each referring provider represents $1.7 million on potential revenue for destination providers.
How to Build a Strong Referral Network
Answer: Communication and appreciation. Thanking the referring provider for the patient they just sent you is key. That provider is referring you to their patients based off your skillset and reputation all while putting extra money in your pocket. Having a strong referral network is key for any business, but especially in the healthcare industry.
What Should You Do?
You don’t have to go out and buy this huge expensive gift however, sending a thank you gift basket with a card message letting them know you appreciate their confidence in you and allowing you to help treat their patient can go a long way.
How to Generate and Expand Your Referral Network
If you want to improve and build on your network of referral partners send a little treat to a physician who might not know you as well. In the note see if they have some time for lunch so you can discuss your expertise and get to know each other.
Example of initial introduction: Send the office mini-donuts with a card message.
I am Dr. Fisher and I specialize in neurosurgery. I am looking to expand my referral network between providers in the area. I would love sometime this month to meet up with you and discuss our specialties and how we can provide our patience with the best care possible. Do you have some time in the next few week for a meeting? In the meantime please enjoy these mini-donuts with your staff on behalf of Fisher Neurological and Team. P.S. Do-nut let this
opportunity pass us by.
All the Best,
Dr. David A. Fisher, and the Fisher Neurological Team
When to Send Your Thanks
Sending gifts to referring providers during the holidays is a great move, but every other physician’s office and hospital is doing the same thing. What can you do to standout? Send a small gesture of thanks within 60 days of seeing their patient. You’ll get the referring providers attention (and his staff) and it won’t be lost in the sea of holiday gifts.
If you have providers that send many patients to you throughout the year, send your first initial thank you gift within the first 60 days, and then send them something for the holidays as an “end of the year” thank you for all the referrals that were sent your way.
Tips on Sending Holiday Referral Gifts
Here’s a great hint… while everyone else is sending their holiday gifts in late November to December, send yours the first 2 weeks in November and be the first gift they receive for the holidays.
A Traditional Gift With an Outside The Box Twist
When gifting during the holidays think outside of the box and make it memorable. A current GGB customer in the dental field, sent thank you referral gifts to other dentists in the area. She sent all the goodies that the provider and their team can feast on to get them through the EOY “use it or lose it” benefit rush, but she also included an updated RX Booklet in the gift basket, which is a great tool for everyone in the medical field. On the inside flap of the booklet was a colorful sticker with her business name, address and phone number on it.
Why was this a great move to include in the gift basket? We all know providers have to prescribe medications every day and let face it, it’s hard to remember all the medications that are out there, not only that the spelling of some of these medications will drive you bonkers. Now when they need to look up a medication and they open that RX Booklet, she is always at the top of the referring physicians minds as soon as they pick that book up.
What to Keep in Mind
Being creative and including something every medical professional can use/snack on. Want to make it even more memorable? Including your branding/logo can have a great impact on your referral success and your revenues bottom line.
It’s important to remember with any relationship you have to build on it and continue to maintain it. You may not get to meet for coffee once a month, but sending a referring physicians a coffee gift basket with a thank you note and lets catch up soon, will help to keep you at the top of their minds.
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