Launching a new ‘squat’ practice

We have recently been appointed to help launch a brand new practice in the Midlands.

Its always great to be involved from the start, providing a ‘sounding board’ for the owner’s business plan and sharing in the vision.

Here’s a checklist of the key actions and decisions that need addressing for squats: –

Business Plan – the roadmap, including the financial objectives for both the owner(s) and practice, check local grant opportunities, budgeting

Market Research – catchment assessment, socio-demographics, unique local factors, competitor & pricing analysis

Patient Experience – developing and mapping this to reflect your “ideal patient”, including developing the “wow” – what will turn your patients into your ‘sales team’

Strategy Development – to include pre-launch, launch and ‘business as usual’, positioning the practice, treatment mix (including core specialisms)

Practice Branding – brand values, imagery (including logo), team buy-in, selling messages, patient literature

Team Planning – clinical, management and customer service skills and core competencies needed to serve your ideal patients, recruitment and training needs

Supplier & Partner Research & Selection – financial planning, architect, building, refurbishment, trades, signage, equipment, supplies, legal, accountancy, practice management software, recruitment, training, membership plan, patient finance, professional insurances, branding, website, digital & community marketing

Marketing Planning – prelaunch, launch and post launch phases, ROI projections, lead generation & patient acquisition, income & membership targets, resourcing

Choosing external expertise my be daunting for some owners but there’s help in all of these areas. I’m always happy to point prospective practice owners in the right direction.