The Value of Defining Value

This article, while specific to private practice physical therapists brings up concepts that are applicable to many businesses, including finding out what is important to your customer and building lasting relationships with them.

What’s your company approach to defining value for your specific patient population?

BY JOHN VACOVEC, PT from Impact Magazine, Nov 2016

You might be getting tired of hearing about “value” or “perceived value,” but it is by far the most important component in treating your client. You can have the best clinical skills as a physical therapist, but if you can’t find out what someone’s expectations are for seeing you, then you are missing the opportunity to build a lifelong relationship with your patients. I would like to give you a couple of helpful tools: Definition of value:

  1. the material or monetary worth of something
  2. the worth of something compared to the price paid or asked for it
  3. a person’s principles or standards of behavior: one’s judgment of what is important in life
  4. the quality or tone of a spoken sound

I prefer “perceived value” because as you can see, “value” has so many different meanings to everyone on any given day, but everyone wants it and is demanding it. And why not? The consumer knows exactly what they want and how to get it and they do. The Apple’s and Starbucks of the world know what their customers want and are giving it to them. When people walk into these stores they know they will get a branded, consistent product, guaranteed regardless of location or employee.

I would like to share with you a way to find out what someone’s D.O.S. (Dangers, Opportunities, Strengths) is and show you a customized outline to get your entire team delivering a consistent, branded process of value to help build lifelong relationships regardless of location or physical therapist…

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