Looking for a new marketing idea?
Today’s BIG Idea is from a pediatric orthopaedic practice that found prevalence rates for a variety of conditions in one of their provider’s textbooks. Prevalence rates give them a sense for how many of a specific diagnosis they could expect from a sample of 10,000 children. The savvy practice administrator combined those rates with census data to get the number of children by county to calculate an estimate of how many cases the practice could expect by county. With that calculation as a denominator, we data mined their practice management system to see how many patients with those diagnosis codes the physicians are seeing by county and by age. If the physicians expect to see about 100 of a given diagnosis in the county and are only seeing 18 patients, there is a potential opportunity. Conversely, if the practice is seeing 250 patients with that diagnosis in the county, that market may be tapped out. What is the potential market for your specialty in your area? What percentage of that market have you captured?