Most health care providers who have a clinical practice, or any type of business where they rely on clients, will need to market in order to sustain and grow that practice and business. While knowing how to market is essential, it’s also just as valuable to know what you should not be doing when you are marketing. It goes without saying that the most common problem is just not marketing, but today let’s focus on 5 of the most common marketing blunders I see health care providers make.
Here is something most Americans do not understand or appreciate. Most of the health care premiums you pay (about 80%) are for the actual senior home health care visiting nurse. This means it is not about profits or administration costs. So the 20% of people who rack up the most health care costs use about 80% of the amount spent on health services. You’re paying a premium so you have protection when you move from the 80% to the 20% during a time of need.
I’m going to have a heart-to-heart with my accountant, too. Not because his base running is atrocious and his fielding stinks, but because the law offers some potential tax incentives for my business.
Health care fraud also occurs through medical identity theft. This occurs when a person uses another persons insurance to receive health care service. This may occur because the person is uninsured or simply doesn’t want to use their own insurance. This could even be so the person can receive narcotics without using their own name.
The assistance that a home health care agency provides can vary. From cleaning the house to cooking of food and personally taking care of the ill and the physically impaired, you can choose what services you would need. You can make an evaluation as to what are your needs at home while you are out for work. You can consult the physician of your patient and ask whether what you are planning would be much better.
There are also services for all minor, aches, bruises, and pains. For example, if you have a burn or a sprained ankle, they will tend to you wound and be able to brace your sprain. Of course, if you have a broken bone or are experience a serious problem, then it is important to go straight to the emergency room where they are fully equipped to handle any situation. These walk in clinics are limited and may not be able to help all medical conditions.
The first place to look is at the Health Care sector ETF (ticker:XLV). The XLV has been on a steady rise over the past year. It has been making constant new highs as the debate has been going on capital hill. One of the key points to remember about the XLF is that it is dominated by five stocks. The largest five companies in the sector make up 45% of the capital in the exchange traded fund. Forty five percent is an awfully large number for sector. If you own the XLV you must place stops about 10% below the current price to secure your profits in case of a sudden downturn.
There are better options available for seniors these days that doesn’t include putting them away in nursing facilities. If this is the type of assistance you need to stay healthy and remain in your own home, you should definitely check into it. Try the yellow pages or search online to find local agencies that will help put you in touch with the right people.