Marketing and Business Development Flashcards

Which component of a SWOT analysis examines internal positive attributes that give an ophthalmology practice a competitive advantage?

Answer: Strengths

Strengths are internal positive attributes—such as subspecialty expertise, advanced technology, or a strong reputation—that differentiate the practice from competitors.

A key performance indicator (KPI) best used to measure the effectiveness of a physician referral development program is:

Answer: Number of new patient appointments from referring providers

Tracking new patient appointments sourced from referring providers directly measures whether the referral development program is generating practice growth.

In healthcare marketing, 'brand positioning' for an ophthalmology practice most accurately refers to:

Answer: How the practice is perceived relative to competitors in the minds of patients and referrers

Brand positioning defines the unique value and perception a practice holds in the market compared to competitors, guiding all marketing communications.

Patient lifetime value (PLV) is an important marketing metric because it helps a practice:

Answer: Calculate how much revenue a patient is expected to generate over their entire relationship with the practice

PLV estimates the total revenue a practice can expect from a single patient long-term, helping justify marketing acquisition costs and prioritize retention efforts.

When developing a marketing plan for an elective procedure such as LASIK, the FIRST step should be:

Answer: Identifying the target patient demographic and their decision-making drivers

Identifying the target demographic and understanding what motivates their decisions forms the foundation of any effective marketing strategy.

Which approach best describes an ethical and effective strategy for managing negative online reviews of an ophthalmology practice?

Answer: Respond professionally and offer to resolve concerns offline, without disclosing PHI

A professional response that invites offline resolution demonstrates accountability without violating HIPAA by disclosing patient information in a public forum.

Market segmentation in an ophthalmology practice context involves:

Answer: Dividing the patient population into distinct groups based on shared characteristics to target marketing more effectively

Market segmentation groups patients by demographics, behavior, or clinical need so the practice can tailor messaging and outreach to each group's specific interests.