Why Clinicians Should Add Supplement Sales To Increase Their Clinic Revenue
Our Healthcare Bosses are savvy. They leverage every square foot of their practice for growth. For many practice owners, their spare clinic space and even their websites fail to take advantage of untapped revenue streams that can significantly enhance their business’s bottom line.
This week’s blog explores ways to boost revenue through your clinic’s physical and online spaces.
The Rise of Supplement Sales by Practitioners
Dietary supplement sales by healthcare practitioners are flourishing. In 2021, practitioners accounted for nearly 10% of total supplement sales, marking a substantial rise from previous years. This growth indicates a rising consumer preference for supplements to optimize health and wellness and presents an opportunity for practitioners to diversify their income sources.
In-Clinic Supplement Sales
Venturing into in-clinic supplement sales is becoming a popular strategy among clinic owners. About two-thirds of practitioners surveyed are exploring new revenue avenues, and nearly half are considering supplement sales to enhance their practice’s profitability.
By partnering with reputable supplement manufacturers or utilizing comprehensive online platforms, you can offer your patients a curated range of products directly.
Online Supplement Sales
In addition to in-clinic sales, augmenting your practice’s website with an online store can break geographical barriers and provide your patients with the convenience of shopping from home. Platforms like Fullscript offer features like auto-ordering for supplement refills. I am not an affiliate, nor is this a sponsored email.
I have heard from several clinicians who have implemented FullScript supplement sales and increased their clinic’s revenue as a result. Supplement companies like FullScript help increase patient adherence to supplement recommendations and contribute to a steady revenue stream. I personally know of clinicians who have reported an additional $35,000 to $97,000 in annual income just from having supplements available for purchase.
Balancing Sales and Patient Care
It is crucial to understand the line between providing valuable health solutions and being perceived as merely ‘selling.’ The most successful practitioners focus on patient education and personalized recommendations based on health assessments. This approach fosters trust and positions them as holistic healthcare providers rather than salespersons.
Actionable Steps for Implementation
Evaluate Your Clinic’s Physical Layout
Evaluate your clinic’s physical layout and find a good location for a supplement display area. Also, find a website developer who can create an online supplement store on your website. In many cases, the online shop is pre-built and just needs some customization, your logo, and a link added to your website.
Align with Reputable Supplement Manufacturers
Align with reputable supplement manufacturers or platforms to ensure your patients have access to high-quality, effective supplements. There are many low-quality supplement brands out there. Many that are uncertified have inaccurate dosages, contain harmful contaminants, or, in the worst of cases, don’t contain the ingredients on the label.
Reputable Supplement Certifications
It is important to only offer tested and certified supplements. Here are a few reputable supplement certifications to look for:
- USP Verified Mark: The United States Pharmacopeia (USP) Dietary Supplement Verification Program helps assure dietary supplements’ quality, purity, and potency. The USP Verified Mark indicates that the product has been rigorously tested and verified for its contents and manufacturing process.
- NSF International Mark: Products certified by NSF International have undergone extensive testing to ensure they contain what is stated on the label, are free from harmful levels of contaminants, and are produced in a facility that complies with Good Manufacturing Practices (GMP). The NSF certification mark is a sign of quality and compliance.
- ConsumerLab.com Approval Seal: Supplements that have passed ConsumerLab.com’s independent quality testing can carry the ConsumerLab.com seal, indicating that the product meets their quality criteria for strength, purity, and dosage accuracy.
Custom-Tailored Supplement Recommendations
You also want to offer custom-tailored supplement recommendations based on individual health assessments. This ensures that your patients understand the added value you provide and helps them understand the relevance of each product you recommend.
Seamless Purchasing Process
Last but not least, you want the purchasing process to be seamless and easy.
Remember, the path to growth in healthcare entrepreneurship is paved with adaptability and creative problem-solving.
See you in next week’s blog; stay inspired, all my Healthcare Boss friends.
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