moneyball for plastic surgeons

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Survey. Satisfy. Share. MONEYBALL – THE ART OF WINNING AN UNFAIR GAME

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Remember Moneyball? It’s a story about the Oakland A’s and how manager Billy Beane won more games at lower cost by using data differently. Is there a lesson here for plastic surgeons? You bet. You need unique data to make marketing decisions that are more effective and cost less. Where do plastic surgeons find such competitive insights? By asking their patients. RealPatientRatings™ has feedback from over 20,000 post consult and post op surveys. As plastic surgery patients answered over 1 million questions, we’ve discovered a lot of surprising insights (and generated over 12,000 online reviews along the way….) In Moneyball, the owner of the Boston Red Sox says to Billy Beane, “the first guy through the wall always gets a little bloody.” Well, RealPatientRatings is already on the other side of the wall and we have a LOT to share with you. In this webinar, Marie Olesen, our resident "Billy Beane," shares the following: - Growing your practice using patient feedback - Increasing conversions by using top drivers of likelihood to schedule - Stimulating referrals by focusing on what’s important to surgical patients - Leveraging user-generated content on your website to increase leads - and many more pearls you can’t get anywhere else It’s all about MORE….. More leads. More consults. More cases. More referrals. More return on your investments. Watch now to find out how you can find more value in your practice through statistical analysis. Watch the webinar with audio here: http://youtu.be/ecviIP7LEj0

TRANSCRIPT

Page 1: Moneyball for plastic surgeons

Survey. Satisfy. Share.

MONEYBALL – THE ART OF WINNING AN UNFAIR GAME

Page 2: Moneyball for plastic surgeons

Survey. Satisfy. Share.

MARIE OLESEN

CEO, La Jolla Cosmetic Surgery Centre• Began surveying patients in 1989

Founder, Real Patient Ratings• Endorsed by ASPS

Founder, Inform Solutions• Created Inform&Enhance®

software to manage cosmetic patient relationship

Speak, write and teach on patient satisfaction and practice success

Page 3: Moneyball for plastic surgeons

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CONVENTIONAL WISDOM: SOMETIMES IT’S WRONG

STATS: ALMOST ALWAYS BETTER THAN GUT INSTINCTS

COMPETITIVE ADVANTAGE: THINK DIFFERENTLY

Page 4: Moneyball for plastic surgeons

CONVENTIONAL WISDOM: SOMETIMES IT’S WRONG

Page 5: Moneyball for plastic surgeons

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Page 6: Moneyball for plastic surgeons

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Our Stats….1.1M Responses from

20,240 surveys 12,862 Reviews Posted

Page 7: Moneyball for plastic surgeons

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Page 8: Moneyball for plastic surgeons

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AT BAT: TURING A LEAD INTO A COMPLETED CASE

Page 9: Moneyball for plastic surgeons

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13.2%*Average email to surgery capture rate*

*Etna Interactive

Page 10: Moneyball for plastic surgeons

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18.5%LJCSC email to surgery capture rate*

*LJCSC 2011-2012

Page 11: Moneyball for plastic surgeons

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27%*Form to surgery capture rate*

*Enrique Rangel, MyMedLeads

Page 12: Moneyball for plastic surgeons

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IT’S ALL ABOUT MORE….. MORE LEADS. MORE CONSULTS. MORE CASES. MORE REFERRALS. MORE RETURN ON YOUR INVESTMENTS

ROI

Page 13: Moneyball for plastic surgeons

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STATS – ALMOST ALWAYS BETTER THAN GUT

INSTINCT

Page 14: Moneyball for plastic surgeons

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FIRST, GET THE ONLY OPINION THAT MATTERS

We’re mobile- friendly!

More than 20% will

complete our survey on

their smartphone.

Get critical feedback at the perfect moment following

consult and surgery.

Page 15: Moneyball for plastic surgeons

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KNOW WHERE YOU STAND

Drill down for details with

regional & national benchmarking

among other board certified plastic

surgeons

“Anyone can send out a questionnaire. But without benchmarking against scores of other plastic surgeons, how do you set goals for improvement? The RPR team doesn’t just put the numbers in front of you; they are talented at

interpreting them and finding solutions that will work for your practice.” --Steven Teitelbaum, MD; Santa Monica, CA

Page 16: Moneyball for plastic surgeons

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MAKE CHANGES THAT GROW YOUR PRACTICE

How do your patients feel about your customer service?

Page 17: Moneyball for plastic surgeons

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THE NUMBERS

Date Range: 9/19/2011 – 12/18/2012

2 Surveys

• Consult: 61 questions• Surgery: 56 questions

Two studies completed

• 2,721 Consult patients• 7,193 Post Surgery

Source of data• 165,981 consult questions answered• 402,808 survey questions answered

Page 18: Moneyball for plastic surgeons

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Prospects who are highly satisfied with their consultation

are TWICE as likely to schedule surgery

SCHEDULE MORE CASES*

Page 19: Moneyball for plastic surgeons

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Appt-Friendliness of Staff

Nurse-Respect

Appt-Knowledge of Staff

Nurse-Helpful Procedure Info

MD-Easy to Understand

MD-Showed Interest in Questions/Concerns

Consult Process Clear/Easy

MD-Thorough Medical History

Appt-Availability of Times

Nurse-Helpful Surgeon Info

MD-Medical Procedure Information

0 0.05 0.1 0.15 0.2 0.25 0.3 0.35 0.4

PRIMARY DRIVERS OF SCHEDULING

Factor Analyzed Logistic Regression; n=1,904; 82.0% accurately classifiedChart entries for each measure represent the beta weights derived through the analysis.

Top Driver

Relative Importance

Secondary Drivers

Page 20: Moneyball for plastic surgeons

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SURGEON DRIVERS

System

1. MD Procedure Information 82%

4. MD Thorough Medical History 71%

6. MD - Showed Interest in Questions and Concerns

84%

7. MD – Easy to Understand 85%

Page 21: Moneyball for plastic surgeons

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NURSE DRIVERS

System

2. Nurse – Helpful Surgeon Info 79%

8. Nurse – Helpful Procedure Information

81%

10. Nurse – Respect 87%

Page 22: Moneyball for plastic surgeons

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STAFF & PROCESS

System

3. Availability of Appointment Times

71%

5, Consult Process Easy to Understand

78%

9. Appt – Knowledge of Staff 75%

11, Appt – Friendliness of Staff 83%

Page 23: Moneyball for plastic surgeons

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ROI - 5% CHANGE IN OSATCURRENT GOAL

My Practice's Current Satisfaction:

Current Top Box OSAT Score 70% 75%

My Practice's Current Performance:

Current # of consults 600 600

Percentage highly likely to schedule 49% 53%

@ Average Fee $6,000 $6,000

Current Revenue $1,764,000 $1,890,000

ROI:   $126,000

Page 24: Moneyball for plastic surgeons

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INCREASE REFERRALSAND REPEAT BUSINESS

Patients who are highly satisfied with their

surgery experience are TWICE as likely to refer

you and return for additional services

Page 25: Moneyball for plastic surgeons

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TOP 10 KEY SATISFACTION DRIVERS LIKELIHOOD TO RECOMMEND

Weighted Factor Logistic Regression; n=4,113; 70.5% accurately classifiedChart entries for each measure represent the beta weights derived through the analysis.

Post Op-Understanding Who to Con-tact For Information

Staff-Organized & Coordinated Care

Helpfulness of Info Provided

Helpfulness of Communication

Nurse Listening Carefully

Usefulness of Pre-Op Materials

MD-Showed Respect

Pre-Op Visit-Prepared Mentally

Post Op-Informed About Recovery

Post Op-Communication & Contact

.00 .05 .10 .15 .20 .25 .30

Top Drivers

Relative Importance

Page 26: Moneyball for plastic surgeons

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POST OP DRIVERS

1. Post Op - Communication & Contact

2. Post Op – Being Informed About Recovery

PostOp – Understanding Who to Contact for Information

Page 27: Moneyball for plastic surgeons

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HUMAN & TEAM DRIVERS

MD – Showed Respect

Nurse – Listening Carefully

Patient Coordinator – Helpfulness of Information Provided

Staff – Organized and Coordinated Care

Page 28: Moneyball for plastic surgeons

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PRE-SURGERY DRIVERS

PreOp Visit – Prepared Mentally

Usefulness of PreOp Materials

Pre-Sx Helpfulness of Communication

Page 29: Moneyball for plastic surgeons

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COMPETITIVE ADVANTAGE? THINK

DIFFERENTLY

Page 30: Moneyball for plastic surgeons

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National Average – 1.5% or 1:67

Page 31: Moneyball for plastic surgeons

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VOICE OF THE CUSTOMER

WOM

Page 32: Moneyball for plastic surgeons

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WOM CONTENT

Page 33: Moneyball for plastic surgeons

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Page 34: Moneyball for plastic surgeons

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+2-6x

Page 35: Moneyball for plastic surgeons

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StateOverall Conversion

Rate as a % w/ReviewsIncrease in

conversions as X

TX 1.77 2.53 1.43WA 1.00 1.51 1.51GA 1.57 2.39 1.52CA 2.18 3.83 1.76CA 1.09 2.13 1.95MA 1.77 3.69 2.08FL 1.28 2.86 2.23WA 1.00 2.68 2.68TX 1.43 4.32 3.02NJ 2.01 6.52 3.24NY 1.02 3.33 3.26WA 2.10 7.91 3.77OR 1.66 8.23 4.96

VA 0.95 6.17 6.49Average 1.5 4.15 2.9

Page 36: Moneyball for plastic surgeons

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IMPROVE ROI ON YOUR PRACTICE WEBSITE

Page 37: Moneyball for plastic surgeons

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Leads

Page 38: Moneyball for plastic surgeons

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Cases

Page 39: Moneyball for plastic surgeons

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+50%

Page 40: Moneyball for plastic surgeons

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Page 41: Moneyball for plastic surgeons

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TRY IT NOWDo more with the people and

marketing you invest in

More happy patients. More cases.

More web leads.

CLICK to get started

Page 42: Moneyball for plastic surgeons

Survey. Satisfy. Share.

Do more with the people and marketing you invest in

More happy patients. More cases.

More web leads.

HERE’S HOW…

Page 43: Moneyball for plastic surgeons

Survey. Satisfy. Share.

FIRST, GET THE ONLY OPINION THAT MATTERS

We’re mobile- friendly!

More than 20% will

complete our survey on

their smartphone.

Get critical feedback at the perfect moment following

consult and surgery.

Page 44: Moneyball for plastic surgeons

Survey. Satisfy. Share.

KNOW WHERE YOU STAND

Drill down for details with

regional & national benchmarking

among other board certified plastic

surgeons

“Anyone can send out a questionnaire. But without benchmarking against scores of other plastic surgeons, how do you set goals for improvement? The RPR team doesn’t just put the numbers in front of you; they are talented at

interpreting them and finding solutions that will work for your practice.” --Steven Teitelbaum, MD; Santa Monica, CA

Page 45: Moneyball for plastic surgeons

Survey. Satisfy. Share.

MAKE CHANGES THAT GROW YOUR PRACTICE

How do your patients feel about your customer service?

Page 46: Moneyball for plastic surgeons

Survey. Satisfy. Share.

Prospects who are highly satisfied with their consultation

are TWICE as likely to schedule surgery

SCHEDULE MORE CASES

Page 47: Moneyball for plastic surgeons

Survey. Satisfy. Share.

INCREASE REFERRALSAND REPEAT BUSINESS

Patients who are highly satisfied with their

surgery experience are TWICE as likely to refer

you and return for additional services

Page 48: Moneyball for plastic surgeons

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Includes profile with unlimited

reviews and new patient

leads

Supports your SEO with followed links to

your website and social media pages

PROFILE IMPROVES SEARCH RESULTS

Page 49: Moneyball for plastic surgeons

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ENHANCE YOUR ONLINE REPUTATION (FAST!)

96% of our members’ directory profiles

appear on the first page of Google search results*

*For searches that include the word “reviews”**and have the Comments Feed installed on their website

Page 50: Moneyball for plastic surgeons

Survey. Satisfy. Share.

GENERATE MORE LEADS FROM YOUR WEBSITE

When patients read reviews on your

website, they are TWO to EIGHT

times more likely to fill out the Contact

Us form! Your SEO team is

gonna love it!

Page 51: Moneyball for plastic surgeons

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ENHANCE YOUR PRACTICE WEBSITE (FAST!)

100% of our members’ very

own websites appear on the first

page of Google search results**

*For searches that include the word “reviews”**and have the Comments Feed installed on their website

Page 52: Moneyball for plastic surgeons

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IMPROVE ROI ON YOUR PRACTICE WEBSITE

Page 53: Moneyball for plastic surgeons

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Plastic Surgery is the first medical

specialty to meet

consumer demand for

reviews

BOOST EXPOSURE ON PS.ORG

Page 54: Moneyball for plastic surgeons

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Show reviews on

your TouchMD system

EXTEND THE EFFECTS

Page 55: Moneyball for plastic surgeons

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LOVED BY PRACTICES,LARGE AND SMALL!

"I can’t thank you enough for how you’ve helped my practice grow. We're up

62% over last year in cosmetic cases...”

- Chris Hess, MD

"What I love the most about Real Patient Ratings is the patient feedback. It isn't my opinion, my doctor's opinion or an outside consultant's opinion, it is what our actual

patients say.

I can find easy and meaningful ways to make changes. Practice growth is a natural

outcome.”

-Vicki Koplow; Coordinator for Steven Teitelbaum, MD

“Real Patient Ratings delivered everything we could have wanted and more. They streamlined the process of sending consultations and surgery patients post-service

surveys and removed us entirely so that we didn't have to invest time

in obtaining this data.”

- Meghan WhaleyCoordinator for John Diaz, MD

Page 56: Moneyball for plastic surgeons

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TRY IT NOWStrengthen, Grow and Protect your

practice. Find out what’s happening in your practice and generate up to 50 new reviews in the first 60-days.

Questions? Call 800-267-1228, ext. 4 for more

info.CLICK to get started