Doctors who are practice owners, group practice administrators, hospital administrators and others do battle daily with the need to efficiently manage financial resources while maintaining (or growing) their businesses. Sometimes outsourcing is a cost-effective tool…and sometimes it isn’t.
We admit to a small bias in this discussion, but it’s not: “outsourcing” translates to “hire our medical advertising agency.” Our healthcare marketing business is to help successful providers become more successful. Our bias is in favor of careful financial stewardship and applying resources where they produce results.
That said, here are some fundamental considerations for marketing decision makers facing the question of outsourcing.
The deciding factor in this (as with most) business questions is the Cost/Benefit Ratio. What course is most likely to produce the best outcome/results for the required investment? One option might be a new full-time hire. Increasing the headcount adds significantly to the administrative overhead on a continuing basis. (Consider salary, vacation, taxes, benefits, insurance, etc.)
This might be the best course of action provided the new hire (a) is well qualified, with the right skills and experience, and (b) that the well-defined work is a continuing need that justifies a permanent position. If so, then hire.
In healthcare marketing and advertising these factors do not always align easily. The necessary range and depth of various talents is rarely found in a single individual. What's more, a provider's marketing requirements can be episodic.
Times to consider marketing and advertising outsourcing.
The specific situations that we have encountered in our work with medical practices and hospitals throughout the nation have varied widely. But the following list characterizes many of the common circumstances that signal outsourcing should be considered. (In random order, and with some degree of overlap…)
The cost/benefit ratio most often favors healthcare marketing and advertising outsourcing when a range of specialized skills and experience is needed for a defined term.