Retail Pricing Strategies, Part 4b: Loyalty and Ethics

This series of articles on pricing strategies has analyzed the historical perspective on the development of retail prices, discussed finding your own “magic formula,” and looked at the individual considerations that should be a part of that formula (e.g., warranty, invoice cost, accessories, cost-of-living adjustments).  Two weeks ago, I began the topic of using manufacturer…

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Retail Pricing Strategies, Part 4a: Loyalty and Ethics

Just to review, in part 1 of this series I reviewed my own personal history in the development of sound retail pricing strategies that would best serve my practice and my patients. In part 2, I discussed finding the right “magic formula” and the various formulas I had seen other practices use, including the possible…

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What Do You Do Everyday Daddy?

One of my favorite stories from a mentor of mine, Dr. Earl Harford, started with an innocent question from his daughter.  “Daddy, what do you do all day?”  He said he thought about all of the hearing exams, hearing aid fittings, follow ups, and he just could not find a nice concise way of telling…

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What is your 60 Second Pitch?

An Elevator Speech (statement or pitch) is something simple that many of us do, I am sure, without knowing.  This little pitch is how you describe yourself and what you do in as little as 30 seconds to 2 minutes.  This time period is approximately the span of an elevator ride.  It can be done…

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The Hearing Healthcare “Model” for the Future: Retail or Medical?

Last week there was an article in the New York Times{{1}}[[1]] http://www.nytimes.com/2011/08/02/health/policy/02consumer.html [[1]]about waiting times in physicians offices.  In the Hearing Health Industry we sometimes divide ourselves into a “medical” model or a “retail” model.  There are strengths in each and we should draw from both, but in terms of staying on time with appointments…

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The V’s of Satisfaction

Do you track your patient encounters? How do you measure success? If we look at the latest research from the Better Hearing Institute patients are more satisfied with fewer visits with a structured follow up that includes verification and validation. There was an article by Sergei Kochkin ( http://www.betterhearing.org/pdfs/M8_Verification_Validation_Study.pdf) in The Hearing Review recently to…

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