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    How to use price transparency to attract patients

     

    How long will it take to convert a lead?

    You have to be willing to capture leads and wait. Certainly, some will convert quickly but most will take time. A recent review of leads from our price transparency website revealed something very interesting. Consumers that submitted three or more "wish lists" to a doctor waited 41.4 days on average between submitting each of their wish lists. Keep in mind, that's the average. The minimum time between pricing inquiries was 10 seconds, while the longest was 3.6 years!

     

    FURTHER READING: 10 money mistakes physicians must avoid

     

    Regardless, don't kid yourself. Healthcare is more competitive than ever. Resting on your laurels waiting for referrals isn't good enough. More consumers are going out of network and shopping around. Capturing leads is critical to provider success. And hopefully, by now, you'll agree there's no better way to capture leads than through price transparency.

     

    Dr. Jonathan Kaplan is a board-certified plastic surgeon based in San Francisco, California, and founder/CEO of BuildMyBod Health, an online marketplace for healthcare services that allows consumers to determine cost on out-of-pocket procedures, purchase non-surgical services, and in exchange, the healthcare providers receive consumer contact info—a lead, for follow up.

     

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