My guest Jonathan Small is a UK based podiatrist, and he believes that you should be charging what you're worth, and nothing less. You should also stay away from the land of low fees because it is a dangerous place and nothing good ever comes from it.
If you want to have a financially viable podiatry business, you've got to set your fees correctly. You should never set your prices based on what your competitors are charging.
On this episode we discuss:
- Why podiatrists don't value the service they provide.
- Fee mindset
- When you charge higher fees, you also have to start delivering on service
- COVID-19 is showing why having low fees is not a good business move and is damaging long-term.
- Cashed up podiatrists who charged correctly and now have a cash reserve will ride out this pandemic comfortably.
- When you charge more, you can provide better services, do more CPD, etc.
- Higher fees are a reflection of the value of the education you provide to your patients - What is the value of the solution to the patient?
- The public perception of professionals that charge higher fees (Surgeons, Lawyers...why not Podiatrists)
"My approach is that if a patient comes to me with a foot problem that I can fix it as well as a surgeon can fix why should I charge any different to that surgeon?"
Reboot Your Podiatry Business
NOW is the perfect opportunity to reboot your podiatry business because patients are taking their health far more serious since COVID-19.
So if you think outside the box, there are real opportunities to be had.
Being Busy Is Not A Sign of Success
If you want a successful business, you need to free up time from your diary so you can work on the business.
Therefore you need to get rid of some patients by increasing your fees or take on another employee to see those patients for you, so you have time to work on the business.
Saying you do not have time is not an excuse, especially now.
You have to get your marketing systems set and working correctly and to do this right it takes time, which is why you need to free up the time you're spending with patients.
If you don't like working on the business and working on your marketing that fine, you just need to get someone who does like it, or you should work for someone else. Business is not for everyone.
You need to work:
- On the business
- In the business
- And away from the business (time off)
"When you have a good marketing strategy, you create a steady stream of new patients, and this is what makes your business safe and successful".
Make a decision not to live the land of lower fees. Decide that you're going to be the Ferrari of foot care. You will lose patients, but if you have a good marketing strategy, you will quickly fill that void.
If you have any questions about this episode, please send me an email at , or you can connect with Jonathan at Health First Foot & Gait Clinic.
You can also connect with Jonathan on Instagram @footmanj12.
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If your podiatry business needs help to develop marketing strategies or business systems, the most efficient way to do this is with one-on-one coaching and mentoring. Please email me at and let's see where I can you.
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