136% Increase in Average Hearing Aid Sale Price
Eastpoint Audiology in Louisville, Kentucky wanted to transition from a third-party administrator (TPA) patient base to a private-pay patient base.
Audigy’s human resources and professional development experts worked closely with the practice to help build a better team and consistent office processes.
The practice has seen a continuous stream of private pay patients rising from 35% to 74% of patient flow and an increase of their average hearing aid sale price by 136%.
Audigy’s process for transitioning to a private-pay patient base was a two-phase approach
Phase 1: Patient flow and income came mostly from six TPA contracts in phase one. During this phase, data and key performance indicators were tracked for 12 months in Pulse, Audigy’s online dashboard that pulls together key metrics such as conversion rates, sales rates, and return rates. The provider partnership included reimbursement agreements, which held them accountable to patient care and opportunity goals.
They leaned heavily on Patients for Life® — a program that ensures best practices are maintained practice-wide with every single patient — and their primary strength, conversion, to capitalize on nearly every opportunity.
After 12 months, their income stream was strong enough to begin phase two — they secured a loan so they could target a broader private-pay patient base through a clear marketing plan and a fine-tuning of their office environment.
Traditional marketing focused on outreach at retirement centers. Digital marketing focused on the website, social media presence, and Digital AMP — Audigy’s digital asset-management program that includes, among other things, an initial audit of their web presence and those of their competitors, custom ongoing content creation, paid-search collaboration, and advanced reporting and analytics.