MSO Medical Consulting provides case study insights for building successful healthcare practices.
Industry: Naturopathic Medicine
Business Model: Integrative Medicine Clinic
Business Name: Spark Health
Owner: Dr. Aliza Cicerone, ND
Negatives: Business is in the startup phase and has no business plan, no systems, poor financial resources and challenging raw clinic space. Also, there are several established competitors have been dominating the local market.
Positives: Competitors in area have weak business practices. Opportunity to come into the market and quickly capture market share through pristine branding and outstanding customer service.
Age of Business at Time of Engagement: 0 years / Startup Phase
Revenue at Time of Engagement: $0.00 per month
Start Date of Engagement: 1/1/14
Solutions: First we identified that a functional business plan was needed to address scalability of the practice, proper marketing strategy, cash flow management, and staff training.
Next we did an analysis to determine who the Ideal Patient was for this practice. Then we determined where this demographic is densely located in the city and plotted to move the practice to that location.
From there we determined what the Brand of this company would need to be like in order to achieve the goals of the practice. We also laid out what systems would need to exist in order to properly operate their ideal practice.
Results Delivered: Within 12 months we developed a functional business plan which included their Capacity Model, Annual & Monthly Budget, Yearly Marketing Plan, Staffing Model and Annual Sales Timeline.
Then we rolled out an entirely new Brand that has quickly become an icon in the industry. The branding included clinic décor and design, customer service & customer experience systems, team coulter, logo, tagline, website, collateral materials, and much more.
Next, we relocated the clinic into a new high end space in the prime location of the city which included designing the buildout of the clinic space to match the brand we developed. Within 6 months of opening, the practice was averaging over 40 new patients per month just from word of mouth marketing.
Financially the company had accurate accounting, budgets and supply ordering systems. The doctor/owner was earning an above average salary.
Finally, we custom designed and implemented through staff trainings the Front Office Manual, Back Office Manual, Doctor Manual and Marketing Manual which has allowed the business to run like a well-oiled machine.
Tagline: Personalized Natural Medicine
Revenue 12 Months later: Over $50,000 per month
Cash Flow Management: Reached operational breakeven in 8 months
Sales: Averaging over 40+ New Patients per Month
Patient Retention Rate: 96%