The healthcare market is different in Australia (& all over the world) and will be for a while, and as your revenue is dropping (many clinics have experienced a revenue drop) you need to look at what you can pivot or change in your practice right now to turn the situation around. You may now need to come up with new strategies to get more new patients, work on with your current patients, reactivate those on your database, or create new niches to attract and see more patients in your practice in different ways.
Of course, start off by taking all the stimulus packages offered by the Australian Government, they are there to assist you in these tough times. Below are some strategies for you to consider.
– Sell your clinic products online: all markets are seeing a massive increase in online sales. Get in on it, market your online shop to sell your health-related products to your database & the wider web audience.
– As you are in the service industry move your consultations online: 3rd party payors such as WorkCover, TAC, etc. are now all allowing telehealth consultations. Sell the value of these to your private paying clients as well, maybe market these at a reduced fee for the time being to private paying clients.
– Reach Out to the Local Community: With some of the current travel restrictions potentially staying in place until 2021, now is the best time to reach out to your local community and offer your services. Allied Health has been deemed an essential service and while business may take a bit of a hit now is a good time to focus on your local community and providing a place for them to solve their issues in these trying times. Advertising via social media (Facebook, Instagram, etc.), taking out an ad in the local paper, or speaking at local events is a great way to show your practice to those in the area.
– Considering Selling your Practice: If you are no longer interested in running your practice with the current situation surrounding COVID-19 then it is time to consider selling your clinic. We have received a huge outcry of buyers and since the beginning of the pandemic, we have sold many clinics such as Physiotherapy, Chiropractic, Podiatry, Psychology, Osteopathy, Speech Pathology & other allied health practices. We have many willing buyers on our buyer’s database ready to pounce. Use this time effectively to decide if you are now ready to sell your practice.
If you are now considering selling or getting a value on your practice, we here at Healthcare Practice Sales can help you. Healthcare Practice Sales sells Allied Healthcare and Medical practices in all states of Australia and overseas. Our dedicated sales team focus on your needs first. We take the hard work and stress out of selling your practice by handling all facets of the sale from the initial valuation of your goodwill and equipment, marketing of your practice, handling all inquiries and negotiations, etc. which then leads up to a successful sale.