By Stewart Gandolf
Chief Executive Officer
Nobody has a clear vision about the shape of cardiology marketing in 2014 and beyond.
What is already a highly dynamic competitive landscape for private practice cardiologists and cardiology groups promises more of the same as the Health Care Reform act takes effect over the next few years.
With operating costs and competition increasing, and payments decreasing, most cardiologists have been struggling with major business and marketing decisions. Should they—individually or collectively—align with a hospital, become an employee, or find a path to remain viable as an independent cardiology practice?
A recent article in Cardiology Today says: “…an estimated 50% to 75% of all cardiologists in the country will be hospital employees by the end of 2010…” Assuming this prediction becomes reality, what are solo and community cardiologists and cardiology groups doing? The same article points to practices that are refusing to accept Medicare, limit the number of new Medicare patients, or taking on a concierge medicine approach.
Within this swirl of change, it’s tough to stay in business without a precision cardiology marketing plan and strategy to cultivate and grow exactly those services that become the best business model. What kind of cases do you want? What can be done by extenders within the practice? What is the overall mix of services that’s strongest?
Overall, the dynamics of cardiology marketing demand that your decisions, strategies, and tactics remain flexible. The only certainty for tomorrow is change.[REF: Cardiology Today; July 1, 2010; Health Care Reform and the Community Cardiologist: 2010 and Beyond]