Private Practice. How much competition is too much?

Members do not see these Ads. Sign Up.

Hello

I am wanting to develop a private practice, however, I live in a Podiatry School town and the area is saturated with podiatrists who have or are setting up practices. Whilst I could claim to be 'better than the rest', and also offer services outside standard chiropody with a view to specialising (I am thinking biomechanics), there must come a point where too much competition is simply 'no brainer' too much - and am wondering how others would calculate this risk.

Has anyone set up a practice in an area in which they do not live and are therefore not familiar with?

I am judging the amount of competition purely by the number of chiropodists/podiatrists registered in my location on Yell.com.



Look forward to a few pearls of wisdom.

This is also my introductory message. Hello!

 

Hello Claire72,
The answer to your question is, I'm afraid, "how long is a piece of string?".

If the area you are thinking about practising in is saturated with footcare practitioners at various levels then this will drive down the price of services so that in the end no-one is making a decent living. If you wish to provide a specialist service then you must ask yourself what the demand would be and who will be able to afford this?

A large bulk of private Podiatric practice is the basic "bread and butter" services, however, these still require a considerable degree of skill.

I would join your local branch of The Society of Chiropodists & Podiatrists to gain more information about the potential market - if there is one - and to find out who is providing what service.

However, it might also be pertinent to consider another area where there is less competition.

regards

Catfoot

 

Hi Claire72,

Just remember that although the area is "saturated" at present, it is likely to continue to do so. You may be surprised by the amount of practitioners that can operate within one area. Being aware of the competition and performing a SWOT analysis is one aspect of business.
And don't rely on internet information for numbers of pods in the area- contact the practitioners within the area and ask them for yourself.
For myself, I commenced the set up of my business in NZ from another country. Still going 6 years later- and more to come hopefully.
Good luck, and keep us informed.
Tree.

 

Hi Clare

Have you sat down and worked out how much money you will need to set up your practice and how many patients you need to make it economically viable (ie a business plan)?

We had to do that as part of our course - I think I remember someone telling me that the general rule of thumb for a viable podiatry practice is 1 pod:10,000 pts (assuming that you will only see some of those people) - that ratio may not be right but it might give you some idea of whether you are planning to set up in a viable area.

Hope that helps

 

Hi Claire,

I'm a business mentor in West Yorkshire http://www.mycci.co.uk/MYMentor and I also have my own business that works with small healthcare practices (as well as the NHS) so I'd hope that I'm reasonably well placed to offer a few words of support!

I think you're right to look at Saturation as part of your due diligence but I'd be focused on your ability to compete.

In my experience most (not all) small healthcare practices are pretty dismal at marketing themselves. I don't know which area you are in (in West Yorkshire) but I suspect with minimal effort you will be able to get your practice into a decent position on Google (which is what really matters). Couple that with a good web presence, professional branding, testimonials, appropriate pricing, planned demand generation campaigns and I suspect you won't need to worry about saturation.

Here's a couple of articles that we have written that might also help:

http://writeupp.com/blog/getting-started-with-search-engine-optimisation-seo-in-private-healthcare-practice/

http://writeupp.com/blog/utilising-social-media-in-private-healthcare-practice/

Good luck and hope this helps

Bob

 

One pod to 20,000 head of population is the minimum I would aim for.

Pod is slightly different to other healthcare professions Bob. In the UK it has much competition from outside the profession, and no Catfoot, I don't just mean FHPs.

Patients with foot problems can also try:
Self-help (free)
Chemists (cheap)
GPs (free)
NHS Podiatry (free)
Physiotherapists/osteopaths/chiropractors.

Then of course you have your other podiatrists, then your FHPs.

I also dispute that for podiatry a web presence is of much use in many areas of the UK at this time (it may be in the future). How many prospective patients carefully check for pods in the area by googling?
How many compare prices over quality of service?
How many go on to base their selection of pod purely on google ranking or website quality?

If PP worth the effort?
Yes.
Find something others don't do, do it well, make sure it's needed and wanted.
Biomech is not niche BTW. Everyone on the list above does biomech to varying degrees.

Update your quals - don't rely on a basic undergrad degree. Surgery would be good to go for, or pharm, if you want to remain in pure clinical work.

Like plenty of other UK pods I have tailored my own work to suit my location and my lifestyle.
I pull in work from Wales, the Midlands, London occasionally. I have several associated quals apart from my basic degree. I have a niche market in UK Podiatry. Note that I didn't say podiatry in mid-Wales, which is where I live.

Can you still make a good living at basic podiatry/chiropody?
Unfortunately the UK marketplace with very few exceptions, is saturated. Established practices do ok, but some struggle. For a new practice I would say the effort is probably not worth the reward.

 

david h i agree with much of the above . but you say go for pharm what do you mean do a masters degree over 4 years in pharmacy. this is unrealistic as most podiatrists are not bright enough to get on a pharmacy degree thats why they are podiatrists you need an a star in maths and chemistry not to mention another 2 a s competition for places is massive 100 top grads for each place most podiatry students are not of the same calibre as pharm students . ps also 4 years at 9000 per yearplus living costs not a small amount. if i had the results to do pharmacy when i left 6th form i would be a dentist not a podiatrist i wish most of us could just put our minds to it and achieve it but life is not really like that.


alternativeley do you mean do the new presribing course for podiatrists , i cant see any money in this how does it generate income .certainly not in pp and if you are a band 5/6/7 in the nhs you willstill have the same banding when you get the new qualification so how will it put money in our pockets . i would be interested to know?

 

Hi Claire,

What about buying an established practice? Might be an idea to put an ad in the Pod Now and what about trying the British Chiropody & Podiatry Association and The Institute mag (look online to contact them for advertising)? Yes you may have to try further afield and commute to work.

Do you have a private practice network group in your area? The last meeting I attended for my area had me sitting next to a dom pod who was struggling to get patients since graduating. I asked what area she operated in and knew that one of the group who had been dom and now had a clinic in the same area was looking for someone to refer house calls to. So I introduced them!! Branch meetings are also good for getting to know your competition and generally network. You probably know this already!

I agree with David that it would be an idea to do a masters either in surgery or biomechanics. Then you are a specialist in your field.

Well good luck

CAS

 

Location, Location, Location

Plainly visible on the high street instead of tucked away in a suburb or at the back of someone else's business will get you noticed quickly and lots of new customer footfall.

It used to be said that a town can support as many chiropodists and dentists, so what's the ratio where you live?


Dave

 

Two points to be answered here Fishpod.
The first is your contention that most pods are not bright enough to get on a pharmacy degree. I meant the prescribing course, but I'm not sure about your assessment of the brightness or otherwise of pod students. I think some people are just late developers.

Go to a good school, don't rebel (too much). and you have an excellent chance of gaining entry to any Uni in the land.
Conversely, don't go to a good school, bu**er about, and you'll end up doing an easy-access degree. Brightness doesn't come into it. This is recognised by the fact that as long as you gain a 2.1 or First you can access pretty much any Uni in the land for post-grad study. That's what I did. Did I become brighter as I got older?

However I take your point - many pod students would not gain access onto a pharm degree course.

Second point. I believe that the new prescribing course can open doors for those in PP.
As an example - take two hypothetical practices in equally good positions in a prosperous town with limited competition. Both staffed by equally competent pods. One has prescribing rights, the other doesn't.
1. People talk. "He must be better than him - he can prescribe" (not gender-specific).
2. GP surgeries will be more amenable to dealing with someone familiar with prescription-writing.
3. Pharmacists will be more amenable to referring to someone who can prescribe.
I'm generalising here, obviously some will resent pods prescribing - we don't know how many will be antagonistic.
4. And finally, a pod who can prescribe doesn't need to write many scripts. His increased knowledge will show itself in conversations with patients. Back up to the top.

I'm drawing on my experience from being around when LA was first introduced. 1 - 4 was pretty much the scenerio then. It won't be quite the same, or have the same marketing power though. Remember that back then there was no such thing as an NHS Consultant Podiatric Surgeon. A chiropodist who could not only numb your toe, but could also deal with your troublesome toenail permanently was something of a rarity. That was niche, for a while.

On a broader note, prescribing rights are a big step closer to UK Podiatry becoming an autonomous profession. That alone is a good reason for supporting those who have worked to get prescribing rights on our behalf, and for supporting those who take up the training, whether or not we do it ourselves.

I moved off-topic - sorry!

 

Claire,

I believe mobile Podiatry is the way to go. Many folk want people to go to their homes instead of the patient going to a clinic. I guess this would mean less finances required for set-up costs. This would then mean you could travel further afield for your clients. This would mean that once your business is established, you can decide where about on your route you get the most work, and just focus in that area. You may also want to contact the Podiatry schools and see if they will send students to you, for a placement. They may consider it, if you market it as an opportunity to experience "private doms".

Now for the flippant part.......If all else fails....you can always start up a long-distance foot health practitioner course. You can always contact The College of Foot Health Practitioners, one of the Director's there I am sure would be more than happy to provide you with some tips in that area.....

 

I'm assuming your whole post is flippant.
Mobile chiropody - now there's a niche. No-one else does it.........

 

David, if you read the original post by Claire, there is no mention of "niche", I was merely giving Claire some advice, which is what she asked for.......

Perhaps you want to re-read her original post.

Actually, no the only flippant part of my first reply was with regard to looking to train Foot Health Practitioners, through a long distance course, which we all know is not necessary....but is a good money earner.....

 

The OP asked the question - "how much competition is too much?"
I posted about how the marketplace for ordinary chiropody is crowded, and how biomech, which she mentioned, is not niche. I expanded on that somewhat, looking also at the areas of competition she will face.
I gave a formula which has worked very well for me and others in the past - 1 pod to 20,000 population, thus answering pretty fully the OP's question.

You, on the other hand, have introduced a suggestion of mobile chiropody, which is not the way to go in my opinion. Check out who I've listed as competition. Do you really think mobile chiropody is going to win more patients over?
Then you've introduced the notion of training FHPs. What has that to do with wanting to set up a practice or wanting to know how much competition is too much?

In fact you've mentioned it in your only two posts on this thread.

 

David, read the above post from Claire. I did give an opinion about specialising, that is to train future Podiatrists in a private clinical field. Last I checked educating Podiatry Students was a specialism, in fact you could also be a specialist in the Geriatric Foot and possibly patients with mental health disorders (once again mobile podiatry gives the opportunity to visit elderly people in their homes and nursing homes, both places you could expect to find patients with mental health disorders such as Dementia). Mobile podiatry means travelling, which can mean outside your area......

Whilst we on specialisms......seen you living in Wales, have you thought of expanding your business by trimming and filing sheep hooves? Just a thought, there maybe money in that...........maybe see what specialist training is involved first though..............By the way David....I am just teasing you.....:bash:

 

Dave

I think domiciliary is a good idea in this case and here's why:

The podiatry clinics in the OP's area may be are a potential source of business and if there are many then there may be a lot of business to be had.

I know at my practice that I would like to sub out the doms for a number of reasons.
1) I don't particularly like doing domiciliary
2) You can't do such a good job in someone's kitchen without all the toys to hand
3) It is less profitable than in clinic work and
4) I could easily fill the appointment time used for Doms with in clinic customers.
5) In my case I have a painful sciatic nerve that plays up something rotten when squatting in awkward positions in someone's front room.
6) Residential and nursing homes are generally depressing places to work (and often smell of urine)
7) You rarely get to clean poo of the feet of someone who attends the clinic - something I wouldn't miss.
8) etc etc

I know visiting practices in my area are very busy as they can't take on any of my customers and so if one new pod went round the clinics and offered to do their Doms and share the fee in return for being able to use their marketing, reception, instruments & sterilising facilities, drawing stock and consumables from the clinic etc then this might be a very amenable and profitable arrangement for both.

So say I give one days dom work of 15 patients to this clinician. I may usually charge £35, they take £20 and so make £300 for the day. They find 3 other clinics to do this and so earn £1200 per week with very minimal overheads for a car, SoCaP (other professional bodies are available) and HPC fees and insurance and not much else.

any takers?

Dave Smith

 

Cheers mate!!!!!

I know your comment was for Dave, but thought I would give you my 2 pence worth if you don't mind.....

15 dom pts per day would be too much, unless they all at the same nursing home. If they were housebound patients, then I would suggest cutting it down to half that cos you have to take travelling distances into account and then patients who take a while to get themselves ready...and then not to mention the follow ups with GPs and social workers when necessary. :dizzy:

 

Lovefeet

Details! the principle is sound, like a permanent domiciliary locum (if something can be permanently temporary):dizzy:.

regards Dave Smith

 

I thought Claire would like to know that maybe 15 pts is too much. So not to bash herself up if she struggled to cope with 15 pts per day.....

Well Mark, you could always offer her a locum job dom partnership :welcome:

 

Until last week I hadn't posted on here for years. I see there is still alot of vibrant banter and you are still in the thick of of Davidh. Hahaha!!!

 

I do my best!

 

dear lovefeet 15 doms a day is nothing ive done 40 in a day thats the most. but 15 is 8 a session i would be finished by 3oclock and on the golf course 8 per day is part time. ive never believed in self limiting ones own income.

 

Hi Fishpod,

40 a day....was that to break the world record or something??????

 

oops error in posting

 

Hi Claire

This post needs to considered carefully.

I run a successful practice with my wife. We also employ two graduates both working on their Masters who are a breathe of fresh air, are a constant source of new ideas and keep us on our toes.

We spend as much time 'working on the business' as 'working in the business'. We trade in what might be considered a 'saturated' area but I can confirm that surrounding practices are 'pretty dismal' at promoting themselves.

Bob said 'I suspect with minimal effort you will be able to get your practice into a decent position on Google (which is what really matters). Couple that with a good web presence, professional branding, testimonials, appropriate pricing, planned demand generation campaigns and I suspect you won't need to worry about saturation' ............Absolutely!!!!!!!!!

If you are told the internet doesn't work - you are doing it wrong! At least 50% of our business comes from google. (google algorithms are now so complex I would suggest using a specialist company to run your website) Forget yellow pages, it is a spent force. But as Bob suggests, you need a focused and coordinated plan or you may as well use a scatter gun. ........and look at marketing as well as advertising.

Not inexpensive but you will get your investment back.

Give as much time to your business (planned, coordinated and specifically targeted) as you do your patients and you will succeed.

 

To all of you I would add one more thing - when you are good at what you do, people will find you.