Client retention is always an important part of business, but when the economy isn’t doing well this becomes imperative. COVID-19 has shut down or slowed down many providers’ offices which has given doctors plenty of time to look at their books and make changes if they don’t like what they see. While this provides a fantastic opportunity, it can also make you vulnerable to competitors. Here are a few suggestions for how you can retain and support your current clients.
- Focus on On-boarding
Examine your current on-boarding process. What questions do your new clients often have, and how can you head these off? Make a checklist for everything you will need from them so they can properly prepare. Have a welcome call, and meet them virtually so everyone can connect and you can all get clear on who will be responsible for what. Create a communication strategy for the first few months. Will you have weekly calls, or monthly check-ins? Once you and your team are clear on your strategy, document it and follow that process in the future.
- Customer Experience
Think about your clients. Depending upon how long they have been with you they will need different things from you. It is easiest to divide them into 3 categories in order to service their unique needs.
Early (0-3 months) This is the time to identify key metrics of customer success focused around the adoption of your medical billing service. Why did this provider switch to you? Is their AR out of control, or are their charges being coded wrong? Set metrics around what you can help them achieve.
Middle (3-18 months) Identify key metrics of customer success focused around delivering the intended value of your billing service to your providers. Have your hit the previous metrics that you set for yourself? If so great! Now it is time to focus on the bigger picture for this provider.
Late (18 months +) Identify key metrics of customer success focused around the customers’ plans to grow with your billing company. Is the provider planning to add more doctors on staff, or open a new site? If so how will you add this into your reporting so you can ensure they are successful with your billing team?
- Customer Feedback
The best way to create a fantastic business is to provide great service. Figure out what is important to your clients and create strong bonds with them. It is easy to switch from a company that doesn’t care about you to save a little money, but if you like them and they provide great service you probably won’t switch over a small price difference. Likewise, your customers will stay if you care about them and support them over the years.
These are only a few of the ways that you can delight your customers. There are dozens of other ideas that are great strategies as well, such as gifting and looking at net promoter scores. Figure out a system that works for you, your team, and most importantly your clients. Many medical billing companies are built on referrals alone. Having happy customers is the best place to begin.