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What is Online Reputation Management and why should Doctors care?

  • Highlights

  • 1 negative review can cost 30 patients

  • Increase in a single star rating can boost revenues by 5-9%

  • Online reputation management firms help reduced bad ratings

  • Hiring professionals can be costly

A survey conducted by Software Advice Inc, operating as a subsidiary of Gartner Inc., found that 82% patients used online reviews before visiting a physician.The survey found that nearly 72% patients usethese reviews as the first step in finding a new doctor, while48% of them preferredan out-of-network physician to an in-network provider,if the former had favourable reviews.
With a surge in the number review sites, as a doctor, it’s imperative for you to maintain a positive reputation in the online world.Even SEO experts believe that reviews are the first impression that patients get about a doctor, while searching them online.

Impact of negative ratings on a doctor’s practice

A study done by Invespro found that a single negative review can lead to a loss of about 30 patients for a doctor. It has also been found that nearly 80% patients change their mind after going through a bad review.
According to reputation management firms, in extreme cases, a physician might be forced to leave his current area of practice and shift elsewhere.So, how can you manage your online reputation?

Keep atab on the major review platforms

Keeping an active tab on the major review platforms will help you address negative feedback and acknowledge positive ones. The Software Advice Inc. survey found that 65% patients feel that it’s essential for doctors to respond to negative/bad reviews. Make sure you understand the cause that led to a negative review and respond assertively.

Seek professional guidance

Because of the demands of your profession, it might not be possible for you to monitor your online reputation. This is where you can consider outsourcing the tasks to professionals. Roping in an online reputation management firm allows you to boost your credibility and spread your message. It also helps you keep a close watch on the negative reviews. According to a Harvard study even a 1-star increase for your practice’s online rating, can boost your revenues by 5-9%!
The cost of hiring the services of a reputation managementcompany can range between Rs.4-13 lakh forfew months or a year. This cost is an operating expense for your practice and can be easily met with hassle-free loan for doctors up to Rs.35 lakh that are disbursed within 24 hours. Flexi loan facility offered by this special loan allows you to withdraw funds as and when required from your approved limit, to pay the reputation management company.

How doctors can take their practice to the next level

How to apply for a Business Loan for Doctors

With an easy 4-step online application process, availing a Business Loan for Doctors has never been simpler.

You simply need to fill in some basic details on the form, post which our representative gives you a call to confirm your offer and schedule a document pickup. Next, he arrives right to your doorstep at the scheduled time and collects the needed documents like your KYC documents and medical degree certificate. After the verification process is complete, the loan is disbursed to your account within 24 hours.

What makes a Business Loan for Doctors score over a regular business loan for your practice is that these take into consideration your medical degree and professional qualifications while processing the loan and hence offer you loans with minimal documentation and loan disbursal within 24 hours.

The money in bank in 24 hours feature thus, helps in taking care of any immediate practice need.

Perks of positive reputation

While negative ratings can have long-term repercussions, a positive online reputationcan work wonders for you. Not only does it enhance your position, but also establishes you as a thought leader and expert practitioner.So, it’s time to start considering online reputation seriously - to find and weed out negative feedbacks, and to build a positive online reputation that you truly deserve.

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