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Service versus Product: Time to Feel the Difference

entrepreneur products services Sep 20, 2021

As entrepreneurs in healthcare, you each provide a service - Orthopedics, OB/GYN, GI etc; but, what product do you provide? No, I'm not talking about ancillaries that you sell in your practice. I'm talking about the thing that patients get when they come to your practice. Still confused? Keep reading.

What service does Wells Fargo provide? Banking. But what product do they sell? Courtesy. In fact, it's written on a huge sign behind the counter. Take a look around the next time you walk into your bank and see if you can spot the "product."

I recently saw an ad for Revlon (yes the makeup company) for their new eye lash product, with the phrase, "Look Fierce." They're selling make up, but their product is that fierce, confident look that a woman may desire. 

Still don't understand? One more. 

What do health insurance company's sell? Other than a pain in the ass experience to providers, haha? Yes, the answer is health insurance plans BUT their product is safety and security for yourself and your family in the event of an accident.

Are you picking up on this yet? What does my practice offer? Regenerative medicine services for orthopedic and spine injuries BUT our product is hope. Hope for those who are struggling to over come their knee pain, back pain, etc. 

So what does your practice sell? This is an important thing because anyone can offer the same medical services you do, but not everyone injects feelings of hope, love, caring, understanding, or courtesy into their business.

Whatever "product" you sell, you must, must, must have it at every interaction with your patients:

  • answering the phone
  • sending an email
  • your website
  • greeting people that walk in the door
  • calling them back for their appointment
  • charting 
  • examining them
  • speaking to their loved ones about their condition

EVERYWHERE!

Remember, people chose where they go for a service and what they buy based on emotions. No one cares if you're the top cardiologist on the planet if you're a jerk.

You, as the entrepreneur, are responsible for developing this vision and product for your business and making sure it is present in every aspect of your business. Being an entrepreneur puts you atop the business looking down on it and being your most creative person. If you're finding yourself in the midst of the madness every day trying to make it all work, you don't own a business. You own a job. 

What is the product of your business? Drop it in the comments.

 

Looking to start or grow your practice but not sure how? I can help. Schedule a FREE call with me so I can show you how our practice went from $0 to 7-figures in 3 years. 

Schedule your call HERE

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