DiscoverPodiatry Legends Podcast226 - Valuing & Backing Your Podiatry Skills with Dr Richard Chasen
226 - Valuing & Backing Your Podiatry Skills with Dr Richard Chasen

226 - Valuing & Backing Your Podiatry Skills with Dr Richard Chasen

Update: 2022-09-28
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For the sake of the podiatry profession, every podiatrist needs to start valuing what they do. They need to back their knowledge and skills when treating foot and ankle problems, and they should never take a backward step when dealing with other healthcare providers.

My guest, Dr Richard Chasen, is the owner of The Lower Limb Clinic in Melbourne, Victoria, and was previously on Ep 99 – More Than Just A Pod; on this episode, we discuss why most podiatrists live the life that happens to them instead of the life they want.

Misconception

When it comes to your career, you have the choice to do what you want, and GPs should not control you, nor should they be in a position not to make you sink or swim.

Also, there's a misconception that allied health professionals are a diluted version of a GP. This is not true; we are all professionals in our own right.

If you don’t believe in what you do, why should your patients?

Communication & Discounts

What you say to a patient only accounts for 8% of your communication; the rest comes from your body language and facial expressions.

If you're giving patients a discount or spending more time with them each consultation, it's useless unless the patient is aware you are doing this. If you provide them with a discount, point it out. If you're spending more time with them, over and above what you usually would allow, make sure they know this.

You lose value in the consultation by not communicating all the extra things you for them that they may take for granted.

Extra Time May Be Hurting Your Business

When you spend extra time with patients because you do not have a patient booked immediately afterwards, do you know it could annoy your patient, especially if they need to be elsewhere?

They may be asking themselves, is this going to happen every visit? Or, they get used to the extra time, and when you cut it back to the correct amount of time, they will think they've been underserviced.

Price Rises

As soon as you put your prices up, it adds value to your skill set. Patients chasing the cheapest podiatrist don't care who they see or the quality of the work.  

If you value who you are, your patients will value you as well.

How Do Podiatrists Run A Bulk-Billing Business?

The only way a podiatrist can run a bulk-billing practice is by not knowing their numbers or not understanding how revenue and profits work.

Or, they've set the bar so low for themselves and over time, they have devalued who they are and what they do.  

You can't say you're the best at treating a particular problem in the foot and ankle and then not charge correctly. Incongruency will kill your business.

Side Note

If you needed neck surgery and one surgeon said they could do it for $4500 and the other said they would do it for $450, who would you choose and why?

7 Things That Happen When You Charge More?

  1. You provide a better patient experience.
  2. You can attend better CPD (National and International)
  3. You can attend more events, conferences and workshops.
  4. You'll have more up-to-date equipment.
  5. You can offer more treatment services.
  6. You'll have a happier team.
  7. You'll be a more content employer, parent and partner. 

If you think you’re not worth what you’re charging, then you’re right.

Give Patients an Experience

When patients visit your podiatry business, you need to make their visit an experience, not just a transaction. No different to going to a top-end restaurant.

Be the Best

If you want to be the best in the foot and ankle space, and you think podiatrists are the best profession to look after that space, you have a responsibility to do a couple of things:

  1. You've got to be the best at it, and you've got to know your stuff when it comes to treating the foot and ankle.
  2. You've got to communicate with other people (referrers, etc.) to help them understand that their patients are better off seeing you because you're in the foot and ankle space all the time.
  3. Educate the patient to help them understand the importance of their treatment.

Final Tip

You have a responsibility to be a podiatry futurist. Where will the world be, and what is the next stage for podiatry? Try and skate to where the puck is going to be, not where it's been.   

If you have any questions about this episode, please email me at tf@tysonfranklin.com 

Business Coaching 

Are you looking for a Podiatry Business Coach who thinks differently? If you are, please reach out via email and let's have a chat to see if we're a good fit for each other. 

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Are you SUBSCRIBED to my YouTube Channel, Tyson E Franklin - Podiatry Business Coach? This is where I upload all the uncut videos from my podcasts and other short business tip videos. 

Podiatry Business Owners Club

Please visit my group, the Podiatry Business Owners Club, on Facebook if you want to connect with like-minded podiatrists who enjoy business. 

12-Week Podiatry Business Reboot

Have you done the 12-Week Podiatry Business Reboot? It will change the way you think about your podiatry business. 

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226 - Valuing & Backing Your Podiatry Skills with Dr Richard Chasen

226 - Valuing & Backing Your Podiatry Skills with Dr Richard Chasen

Tyson E Franklin