Bottom Feeding Versus Aiming For Top-Paying Patients

In your podiatry business, you have a choice to make, serve the top of the market or serve the bottom of the market. If you choose to feed off the bottom, you usually do more work for less money. Let me explain. 

Doing Well

If you aim for the top, you will be working with patients who are doing well and are more likely to be able to pay your fees, whereas the bottom of the market are usually struggling to make ends meet. 

This doesn't make them bad people or patients, but if they are struggling financially, they will unlikely be able to pay you what you are worth and let's be honest, your information is very valuable. 

Believers, Not Sceptics

Top-paying patients tend to believe your advice because they have no reason not to believe you, whereas struggling patients will be looking for reasons not to believe you.

They will be sceptical and need more convincing because parting with their money is a big decision. More convincing means more time for you. 

Respect and Attention

Everyone knows that when you pay for something, it has more value than when it is for free, and high-paying patients understand this. They come to see you because you are a foot specialist and they expect to pay foot specialist prices.

They are not expecting free advice, nor do they want free advice. 

Race to the Bottom

Why are you in business if your business is not making a profit? You may be better off working for the government or being an employee. Discounting, cost-cutting and trying to be the cheapest podiatrist in your area is a terrible business model. 

If your only marketing idea is to cut your fees to attract patients, you need to seek help; otherwise, you will be working really hard for an average or below-average return. 

Rise to the Challenge

The best thing about high-paying patients is they expect results, which means you must deliver. This can be very energising and fun for your podiatry team because it shows that you are a results-driven podiatry business; you're not just chasing the almighty dollar. 

Are you Frustrated?

If you're frustrated with where your podiatry business is and the type of patients you see each day, reach out to me and let's see if I can be of any assistance. I've helped a lot of podiatrists grow and develop exceptional podiatry businesses, but once again, it's your choice, you can feed off the bottom or you can feed on the top. 

Podiatry Advising & Mentoring

Have you decided to grow your podiatry business in 2022? If you have, let's talk. You can email me at email/tf)(tysonfranklin.com; otherwise, look at my Mentoring page or go to my online calendar and schedule a FREE 30-minute Zoom meeting with me. 

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I upload all my educational and podcast videos to my Youtube channel, Tyson E Franklin - Podiatry Advisor & Mentor. Please SUBSCRIBE, and if you click on the bell icon, you'll be notified whenever a new video is uploaded. 

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