Launching Physician Practice Investments

Topics: Physician Marketing, Marketing, Hospital-Physician Alignment, Physician Issues, Outpatient Care, Service Lines

Hospitals now look to physician alignment models not only to secure referral streams for growth but also to build strong, collaborative relationships needed to implement risk-based payment systems. This study explores best practices for leveraging marketing resources during the early part of physician relationships to achieve long-term success. By reading this study, members will be able to:

• Develop an accurate and compelling recruitment message
• Implement appropriate employed physician practice branding strategies
• Create a structured onboarding process
• Capitalize on physician downtime through marketing activities

Executive Summary

First impressions critical to long-term goals

As hospitals pursue an array of physician alignment models, optimizing physician retention, productivity, and position in the marketplace becomes increasingly important. The first few months a physician spends at a hospital are critical for forming long-lasting impressions that can improve productivity and retention, representing an opportunity that many marketing departments often miss.

Leverage core department strengths

While marketing departments already excel in the latter stages of building a physician’s business, there are times during the earliest part of the relationship when marketing departments can have a bigger impact. Core marketing department strengths, such as market branding and achieving referral growth, should be leveraged during the earliest part of a physician’s tenure at a hospital to promote retention and long-term productivity.

How to bolster return on physician investments

This study offers nine tactics for strengthening the strategic return on physician investments through branding and onboarding opportunities. Chapter one features tactics for tailoring branding strategies to maximize physician recruitment, including developing an accurate, compelling recruitment message and aligning hospital and physician practice branding. Chapter two offers tactics for optimizing physician onboarding opportunities to strengthen retention and productivity. Strategies include developing tailored onboarding plans and ready-to-use marketing tools, coaching physicians in practice marketing, and conducting networking "road shows" with referring physicians.

Preamble: The Hospital-Physician Alignment Imperative