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How to Raise Prices and Your Quality of Patients and More of Your Questions Answered

Including the reality that has become offering signing bonuses to secure top talent.

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Should I offer a signing bonus? The holidays are bearing down on us, we’re short-staffed, and I can’t find a decent candidate.

That’s a tough one. There are currently more jobs available in America than qualified workers. If a signing bonus will get the deal done and ensure you get a worker in place before the holiday season, then it could be a wise move. Here are some factors to consider:

  • You need a properly worded contract to ensure the employee doesn’t simply take the bonus and run.
  • You won’t be able to keep this secret from existing staff and paying a hiring bonus to only some employees could possibly lead to resentment or even lawsuits for alleged discrimination. Sell it well to your existing staff, though, and they will understand — and no doubt welcome — whatever efforts you have to make to bring in new hands, especially if they are stretched already.
  • You need to ensure that the employee will be satisfied with other aspects of your store environment, such as culture, benefits, and growth opportunities. You don’t want a situation where a contract creates a sense of obligation or resentment in the employee, who might feel trapped or unhappy in their job.
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I want to raise our fees and prices to reflect the high level of professional expertise we have on staff but don’t know how to sell our patients and customers on the idea. I’m not sure our client base appreciates the level of service we provide.

Sounds like you need better customers — better customers appreciate good work, demand it, and are willing to pay more for it. Yes, easy to say but not that easy to achieve. Start by investing more time in educating your patients and customers about the skill levels and experience of your staff, how many years they studied, the big medical institutions they’ve interned at, the extra courses they’ve taken, and what makes your practice stand out. Hone your storytelling with every encounter. Second, prune your customer base to lose those patients/customers that just don’t get the Iron Triangle of Business: “You can have it fast, good, or cheap. Pick two.” They aren’t worth the investment in effort.

Every year try to lose the worst 10% of your customer base. And finally double down on your commitment to quality. Exacting standards rigorously enforced, from the front desk to the back lab, will allow your reputation to shine. Always criticize the work, not the worker. What you’ll likely find is your staff is eager to buy into high standards. They too want to be part of something that stands for quality.

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