The fourth quarter is often a pivotal time for businesses, marking the culmination of a year's efforts and setting the tone for the year ahead. As we approach this crucial period, it is essential to have a clear strategy in place to ensure success. In this month's video, Lowell Weil Jr of Foot and Ankle Business Innovations shared valuable insights on how to navigate the fourth quarter effectively.
Here is a breakdown of his key takeaways:
1. Engaging Patients for Year-End Care:
The end of the year often comes with specific healthcare needs that are time-sensitive. For instance, if you offer diabetic shoes, it is essential to ensure they are ordered and delivered within the calendar year. Now is the time to reach out to patients who have not yet taken advantage of such programs. The same applies to orthotics and surgeries, especially for patients who have met their deductibles.
2. Effective Patient Outreach:
How you communicate with your patients can make all the difference. Consider utilizing a mix of phone calls, postcards, and emails to remind patients of the care they need. Regular email newsletters can also be a powerful tool to keep patients informed and engaged.
3. Preparing for the First Quarter of 2024:
While the fourth quarter is in focus, it is also essential to look ahead. Start planning your marketing strategies now to ensure a steady patient volume in the typically quieter months of January and February.
4. Reflecting on Your 2023 Goals:
Take a moment to review the goals you set for 2023. Assess where you stand and make necessary adjustments to end the year on a high note. Additionally, begin contemplating your goals for 2024 and start planning ahead.
5. Budgeting for the Upcoming Year:
Budgeting is a cornerstone of any successful business strategy. As you approach the end of the year, start looking ahead to determine your revenue goals, patient volume targets, necessary investments, and other financial considerations for 2024.
In conclusion, the fourth quarter is not just about wrapping up the year; it is about setting the stage for future success. By taking a strategic approach, you can ensure that you are not only meeting your business objectives but also finding the right balance for personal fulfillment.