The private healthcare sector in the UK is transforming. In the recent chat with Andy Thomas on the Life Stories Podcast, Tony Gavin, founder of OSGO and The Foot & Ankle Show, shared valuable insights about how private practices are evolving to meet the changing needs of patients and the challenges they face. Here, we’ll explore the changing landscape of private practice and the key takeaways from the discussion.
- Customer-Centric Approach: Private practices are increasingly focusing on enhancing the customer experience. They are offering more solutions, choices, and options to patients, driven by a genuine desire to help people and provide the best care possible.
- The Wellness Revolution: Over the past few years, there has been a significant shift in how people value their wellness and health. Recent events, such as the COVID-19 pandemic, have made individuals more aware of their health and well-being.
- Adaptation and Resilience: Private practices have faced challenges, including lockdowns, which affected their ability to see patients. In response, some practices have adapted by changing their offerings, investing in new equipment, and providing additional services to maintain strong patient relationships.
- The Monetary Value of Healthcare: There’s a growing conversation about the role of monetary value in healthcare. It’s essential for private practices to make a profit to ensure their sustainability. However, financial decisions should ultimately be made by patients based on their priorities and values.
- Pricing Reflecting Value: The historical under-pricing of healthcare services has been a topic of discussion. There is a call for private practices to provide the best service possible and price it accordingly, acknowledging the value they bring to their patients.
- Recruitment Challenges: The healthcare sector, including private practices, is grappling with recruitment challenges. Finding and retaining qualified healthcare professionals has become a widespread issue.
Embracing Technology and Industry Advancements: Private practices must embrace technology and industry advancements to remain competitive and deliver top-notch care.
“The biggest disservice you can do to your patients is not making a profit because if you’re not making a profit, then you’re not going to be there for them next year.”
Adapting To Change
The changing landscape of private practice reflects a growing commitment to providing better care and service to patients. Private practices are adapting to meet the evolving needs of patients, with a focus on value-based pricing. In the face of recruitment challenges and uncertainties in the healthcare sector, private practices are demonstrating resilience and determination.
As the private healthcare sector continues to evolve, it’s important for healthcare professionals and private practice owners to stay updated on industry trends, adapt to changing circumstances, and provide high-quality care while ensuring the financial sustainability of their practices. This adaptability and commitment to patient well-being are crucial in the ever-changing landscape of private practice.
“It is our place as clinicians or healthcare providers to give patients choices and to offer them the best things available for them.”
If you need any help or advice regarding your practice, get in touch with our team here at Physiquipe to help you to evolve and grow.