Introduction to patient acquisition 

Patient acquisition encompasses all the strategies employed by healthcare practitioners to attract new patients to their practice. It marks the initial step in the patient journey, followed by engagement, conversion, and retention. These efforts involve various marketing tactics that highlight the unique selling proposition (USP) of the practice, distinguishing it from others.

For healthcare providers, acquiring new patients can pose intermittent challenges. While there may be an existing patient base, reaching individuals seeking top-notch care remains crucial. However, one question must be addressed:

Why do patients switch healthcare practices?

As of May 2022, there are approximately 1,073,616 active physicians in the United States. This vast number underscores the multitude of options available to the US population when seeking healthcare providers or services in their area.

While these statistics represent the entire nation, it's important to note that every city hosts hundreds of practitioners, further expanding the choices available to individuals. With such abundance, patients have the flexibility to switch providers if they're dissatisfied with their experiences, ensuring they find the care that best meets their needs.

So, why do patients switch practices?

Today, patients prioritize a superior patient experience, seeking care that is patient-centric, affordable, accessible, and convenient. A 2021 study found that about 33 percent of patients would switch to a healthcare practice offering modern communication tools like text messaging and automated reminders.

Here are the primary reasons people switch practices:

1. Poor communication.
2. Billing issues.
3. Unbearably long wait times.
4. Lack of proper technology.
5. Inadequate customer service.

To ensure patients remain loyal to your practice and don't seek alternatives, it's essential to address these factors. Prioritizing patient retention is key before delving into opportunities for new patient acquisition.

Importance of patient acquisition

Let's consider a scenario where you have a base of 100 patients who visit your practice as needed for healthcare services. How frequently do these patients visit? There's no fixed schedule; they come when necessary. Since you can't rely on existing patients to maintain a consistent flow, acquiring new patients becomes crucial.

Patient acquisition ensures your practice stays operational even when existing patients visit infrequently. While retaining current patients is vital, implementing healthcare marketing strategies helps tap into a vast pool of potential patients, keeping your schedule busy.

However, alongside highlighting the importance of patient acquisition, it's essential to address the challenges that make it a complex endeavor.

Challenges pertaining to patient acquisition

What is patient acquisition cost? 

Patient Acquisition Cost (PAC) represents the expenses incurred to onboard a new patient. It encompasses the financial, resource, and time investments required to reach out to individuals and convince them to utilize your services. PAC includes:

1. Marketing expenses.
2. Overhead costs.
3. Taxes.
4. Wages.

How to calculate Patient Acquisition Cost

It's crucial to calculate your Patient Acquisition Cost (PAC) to gain insights into the effectiveness of your strategies and identify areas for improvement. Understanding your investment in practice growth helps guide your marketing expenditure.

For instance, consider the following costs:

Marketing expenses = $20,000

Overhead costs = $5,000

Taxes = $5,000

Wages = $30,000

Number of patients acquired = 250

The PAC is calculated by summing these costs and dividing by the number of patients acquired:

PAC = ($20,000 + $5,000 + $5,000 + $30,000) / 250 = $240

This means that acquiring each new patient costs $240. If, for example, a new patient generates $100 in income during their first visit, you begin seeing profit by their third visit.

Top 10 patient acquisition strategies 

Now that you've grasped the basics of patient acquisition, here are some essential strategies to aid in acquiring new patients.

Utilize Paid Advertising

Paid advertisements, such as those on Google, Facebook, and Instagram, are indispensable tools for attracting new patients. 

Once you've established a sizable audience familiar with your practice and open to receiving communication via email and SMS, these ads can efficiently guide individuals through your marketing funnel, steadily increasing your patient base.

Create SEO-Friendly Content

In a content-driven world, leveraging content is essential to showcase your expertise and attract new patients. The beauty of content creation lies in its cost-effectiveness and organic acquisition potential.

Boost your presence on platforms like your website, LinkedIn, Health grades, and Google My Business page—choosing platforms aligned with your bandwidth. Position yourself as a thought leader by consistently sharing valuable, engaging, and SEO-friendly content on these channels.

Prioritize Reviews

Reviews play a pivotal role in influencing people's decisions, and for healthcare providers like you, they serve as gateways to attracting new patients. When individuals seek medical care, they often rely on Google searches and scrutinize online reviews to inform their choices. Practices with stellar reviews and ratings typically emerge as top contenders.

Thus, it's crucial to accumulate as many positive reviews as possible from your current and former patients. This not only enhances your business's credibility but also boosts your visibility in local searches.

Be Active on Social Media

With a vast user base of 5.04 billion people on social media, it's essential to implement effective social media strategies to tap into this extensive audience. Social platforms offer opportunities for discovery and allow you to create favorable first impressions.

Engage your audience with compelling visuals, informative videos, inspiring quotes, and content that showcases your unique value proposition. By establishing a strong social media presence, you can attract and connect with potential patients while setting yourself apart from competitors.

Utilize Email and SMS Marketing

Email marketing serves as an effective communication tool to promote your medical practice and keep patients informed about new services or updates. By reaching out via email, you can engage with individuals conveniently and convert them into customers.

Similarly, SMS messaging allows you to interact with your audience directly, sharing special offers and driving patient traffic.

Pro tip: Integrating email and SMS marketing with paid advertisements can enhance patient conversion rates

Monitor Competitors

Just as you're striving to acquire new customers, other healthcare practitioners are likely doing the same. Conduct a competitor analysis to identify gaps in their offerings.

Utilize these insights to emphasize your unique advantages, demonstrating to potential customers why your practice stands out and encouraging them to become loyal patients.

Embrace Psychographic Market Segmentation

To expand your audience reach, go beyond demographics like age and gender. Consider factors such as patients' life priorities, goals, and beliefs. How can your practice help fulfill these needs?

Tailor your strategies to demonstrate genuine care and understanding of their motivations. This deep connection will set your practice apart and foster stronger patient relationships.

Invest in Print Advertising

While digital ads are valuable for online visibility, don't overlook traditional media like print. Physical outreach through print ads allows you to connect with audiences who may not be digitally inclined. By diversifying your advertising channels, you can effectively reach individuals with varied interests, preferences, and backgrounds.

Provide Educational Resources

As a healthcare practitioner, your role extends beyond treatment to educating individuals on leading a healthy lifestyle.

In an age where searching minor health concerns online often leads to anxiety-inducing results, it's crucial for people to access medical information from trusted sources. Position yourself as that trusted source by offering educational content both in your clinic and online.

Prioritize Patient Retention

Simply acquiring patients isn't sufficient. If individuals visit your clinic once and don't return, your strategies may need adjustment. After acquiring a new patient, go the extra mile to retain them. Implement patient retention strategies to ensure steady revenue and foster lasting relationships with your patients.

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