June 6, 2008 : Practice Builders President/Chief Executive Officer Addresses “Market Or Die” Charges

June 6, 2008

Practice Builders President/Chief Executive Officer Addresses “Market Or Die” Charges

Orange, California, USA, June 10, 2008 – Practice Builders’ President/Chief Executive Officer Joel Ellis today defended comments he made in the company’s first webinar, "Prospering in the Down Economy: Referrals, Marketing and Other Survival Tactics", saying he did not exaggerate the need for healthcare practitioners to market their practices during the recession.

"In many respects the current economic situation has created the worst of all possible worlds for practitioners trying to maintain their patient base, referral flow and consumer direct initiatives. Patients and prospects will either be unable to afford, or unwilling to spend money on healthcare. They’ll just wait until there’s a crisis and head to the emergency room.

"I’m afraid many private healthcare practices will meet their demise before the rebound occurs. Many practitioners appear far too complacent and will do nothing as their patient base slowly erodes, their revenue slips and their referral flow dries up little by little.

"Remember that science experiment where a frog is put into a pot of water that’s slowly heated up until it boils, and the frog never jumps out because it doesn’t notice the increasing danger? A lot of practice owners today are that frog. It’s really a shame, since a professional marketing plan and a few very basic marketing initiatives could easily reverse the losses their practices are suffering."

Responding directly to the ‘exaggeration’ charge, Ellis said, "If this recession were behaving anything like previous recessions, maybe I’d agree. But so far this recession has defied interest rate cuts, money supply increases, tax rebates, and bailout packages. Prices are going up, instead of down as they did in all previous recessions. Your patients’ and prospects’ ability to pay you, the healthcare practitioner, is evaporating before your eyes. If you’re not worried, you may have your head in the sand.

"I don’t believe I ever actually used the phrase, "Market Or Die", but I think it’s right on the money. And as the leading healthcare marketing company since 1979, I believe we at Practice Builders have a responsibility to sound the alarm."

Practice Builders "Prospering in the Down Economy" webinar video is available for free viewing here.

Founded in 1979, Practice Builders has helped thousands of private practice physicians build their practices through its Practice Builders Marketing Workshops, held more than 70 times per year in cities across North America.

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