Getting the Jump on a Changing Industry
With Audigy’s Owner Summit offering key decision-makers in the practice a chance to share experiences and ideas with peers, get ahead of industry trends, and become better leaders, our recent session in beautiful Dana Point, California, did not disappoint.
Whether you missed the popular annual event or were among the more than 200 practice owners from across the U.S. and Canada who attended, we’re sharing five quick takeaways to help you thrive in a hearing-care industry experiencing historic change.
1. Trust Builds Relationships
No matter your market, you can differentiate yourself from the pack, and an important part of that is trust. How do you build a sense of trust with patients for long-term relationships? Owner Summit guest speaker Andrea Howe, founder of the Get Real Project and co-author of The Trusted Advisor Fieldbook, advised focusing on creating credibility, reliability, intimacy, and low self-orientation. It starts with intentional listening, which helps put the focus where it should be — on the patient. Listen to collect critical data while simultaneously creating a connection.
2. Visibility Is A Must
With hearing aid manufacturers staking an increased presence in direct retail, legislation changing access to care, and third parties aggressively cutting reimbursements, today’s challenges can seem daunting for independent practices, but Audigy founder and CEO Brandon Dawson reminded summit attendees that there has never been a better time to be in this industry. From the ever-growing need for high-quality hearing care to the amount of money flowing in, the market has spoken. Patients can’t find you, however, unless you’re visible, so — as Dawson advised — you need to be online.
3. Disruption Can Be a Boon
Speaking of retail: From the future availability of regulated over-the-counter hearing aids to the continued rise of third-party payers, industry changes are on the minds of many private-practice owners, but Audigy research and analysis shows that disruptions can be to their benefit. As Audigy Chief Commercial Officer Connon Samuel and Chief Financial Officer Michael Halloran emphasized, disruptions — spurred by technology and distribution — lead to dissatisfaction, awareness, and demand that hearing-care specialists are uniquely trained to address.
4. Goals Matter
Goal-setting is crucial to success but can prove to be one of the most challenging tasks in a world rife with distractions, demands, and daily deadlines. In a session dedicated to business discipline, Audigy Strategic Business Unit Vice President Kim Gilmore deconstructed the steps to setting goals and making them happen. “Think big, act small,” Gilmore advised. Work backward from your long-term goal to determine what you should be doing 12 months from now, six months from now, this month, this week, and today to work toward achieving your targets.
5. Leading is Succeeding
Creating opportunities and pathways for the growth of your practice — and within your team — requires the ability to lead. How do you tap into your leadership potential to achieve results you may not have even thought possible? Structured Success, Audigy’s new leadership program announced at Owner Summit and launching the first week of April 2019, will help practice owners and providers accomplish just that through an educational series involving online content and in-person leadership training including exclusive conferences and retreats. Stay tuned on this website for more details soon.
Did you know? Audigy provides comprehensive strategies for every phase of practice growth, taking a holistic approach to creating and implementing business solutions that improve efficiency, increase profitability, and build your legacy. Talk to a team member about getting the expert support you need to succeed.