Dear Doctors,
The decision of whether or not a practice should give out offers and discounts on their services and treatments is a complex one and depends on various factors, including the nature of the practice, its goals, and its target audience. In Dubai's healthcare industry, the competition among clinics and practitioners is as fierce as ever. It's not surprising that many of us are tempted to offer discounts on our services to attract more patients. However, in this article, I'd like to talk about why doctors in Dubai should resist the discount temptation and focus on building their brand as a means to grow in this competitive market.
Maintaining Quality and Value:In healthcare, the quality of care and patient safety is important.Specially in Dubai where healthcare is held to high standards, we must maintain the quality and value of our services. Offering discounts may raise concerns among patients about whether corners are being cut or the quality of care is compromised to reduce costs. Maintaining standard pricing ensures that patients receive the best possible care without compromise.
Maintaining Sustainability:Discounts might seem like a quick way to attract new patients, but they can have a negative impact on the sustainability of our practices. In Dubai, the cost of running a healthcare facility is expensive, including state-of-the-art equipment, highly skilled staff, and maintaining strict hygiene standards. Offering discounts can compromise our ability to provide top-notch care in the long run.
Building Trust and Reputation:Word of mouth and reputation are extremely important in a close-knit community like Dubai. Patients who believe our services are valuable are more inclined to refer us to their friends and relatives. Long-term success in the healthcare industry requires a strong personal brand founded on trust and excellence rather than offering frequent discounts.
Protecting Profit Margins: Discounts can eat into a practice's profit margins, making it challenging to cover operational costs and invest in equipment, technology, and staff. Over time, this could lead to financial strain and potentially impact the quality of care provided.
The True Cost of Discounting:To put it into perspective, let's consider some statistics. According to official statistics released by the Dubai Health Authority (DHA) for 2022, the emirate boasts an impressive 4,482 medical facilities across the private sector, a 45% growth in five years.Along with the growth in the number of healthcare facilities, Dubai has also witnessed an impressive 61% increase in licensed medical professionals to reach 55,208 in 2022.The competition is undeniable and reducing prices may not always be the best strategy for healthcare providers.Instead of engaging in price wars, consider focusing on quality of care, patient experience, innovation, and specialization. This strategic approach can lead to sustainable growth, a loyal patient base, and a strong position in the healthcare market.
Emphasizing the Personal Brand
Personal branding plays a crucial role in shaping how potential patients perceive a healthcare practitioner or practice.Healthcare providers with strong personal brands built on expertise, trustworthiness, and a commitment to patient well-being are less reliant on discounts to attract patients. Patients are often willing to pay more for care provided by practitioners they perceive as experts.
Here's how your personal brand can help:
- Differentiation: By highlighting what makes you unique, you can stand out among competitors without depending on discounts to attract quality patients. Share your specialized knowledge, patient success stories, and innovative approaches to treatment.
- Trust and Credibility: Patients are more likely to choose a healthcare provider they trust. Consistently delivering exceptional care and sharing your expertise through articles, seminars, or social media can boost your credibility.
- Patient-Centric Approach: Emphasize patient-centered care. Show genuine concern for your patients' well-being, and make them feel valued and heard. Happy patients are more likely to return and recommend you to others.In conclusion, whether a healthcare practice should give out offers and discounts depends on its specific circumstances and goals. However, personal branding can play a significant role in shaping the perception of value and trust, potentially reducing the dependency on discounts to attract and retain patients.
Cheers!