Volume vs. Value
When it comes to doing business in the
New Health Economy,
everything is going to be different.
Everything.
The following is an exchange with a physician who has considered joining Impact Health, after spending several weeks digging in and trying to understand our platform. (This is exactly why we built the Impact Workshop & Retreat.)
His message to me:
Hi Mark…I just didn’t want to stay dark. Yes I’ve had a busy week but honestly, I am going to be in kind of a wait-and-see mode to see how Impact does. I hope I’m wrong for your sake, but when I saw the fees involved, I had a hard time thinking that there would be a substantial number of people who are willing to pay that. Again for everybody’s sake, I hope I’m wrong, but I just wanted to reach out and thank you for the time you spent with me.
Here is my response:
There are only TWO (2) ways to make money, in any circumstance, let alone in the New Health Economy:
a) Volume (as many as you can sell) or
b.) Value (by maximizing a feeling or experience; also known as “consumption”)
Volume is easy to understand. It is also the way the current “matrix of modern medicine” has done business for the last 40 years (it’s actually the last 120 years) and it’s only getting worse.
Value is something that’s difficult for many people to define and/or understand. Value, unfortunately, cannot be measured; it can only be experienced or felt.
The move into the new health economy and away from the Matrix of Modern Medicine is the move TO Value and FROM Volume.
This is what few people understand.
With that, when you explain it properly (first to a health professional and then help that help professional explain it to a patient) and offer a system to help “sell” the value, people are more than happy to “pay” for the experience or feeling.
You see, patients no longer want the current medical system, where they are herded through stale offices and clinics like cattle and given a number. (Yes, many busy clinics give patients numbers when they come in for a visit.)
Study after study shows that what patients actually want are the following four things. Not one or two of the following, but ALL four:
A personal relationship with one health professional
Time with, and advice from, that one professional
To be an active participant in their own care
Help navigating the complexities of medicine and health
Frankly, the biggest impediment to the move to the New Health Economy are the Health Professionals.
Patients, as PEOPLE, want this New Health Economy and are more than willing to pay for it. Patients, as People (and People are Consumers) are willing to pay for value…when you show them what it is and how they can benefit.
The reality is that the vast majority of Health Professionals have neither had a basic economics class that discussed or showed what real value is, nor have they had the opportunity to actually PROVIDE (pun intended) real value in the real marketplace. (No, the current Medical system is NOT the real marketplace.)
Everyone says that they want to focus on Root Causes in health, care, and medicine. Well, we have gone to great lengths to understand the Root Causes, relative to the Economics of health, care, and medicine, Health Professionals’ problems.
There are really only two root causes of ALL of Health Professionals’ problems. Yes, it’s amazing; there are only two. But they are very big ones:
Improper Mindsets
Failure to understand incentives
The problem for most Health Professionals is that they have not only not been taught about real market conditions, they believe that what they’ve been doing for their career is the real marketplace.
Improper mindsets, coupled with a failure to understand incentives, is why Health Professionals most often fail at real business in the real marketplace. Two quick examples that we explain in great detail at the Impact Workshop & Retreat:
1. Objective Value vs Subjective Value
Objective Value says that something has value “just because.” This is how most health professionals see themselves…they have value just because of a certain degree, number of hours of training, they went to a specific school, etc. This, however, is not how the real marketplace works.
The real marketplace works based on Subjective Value. That is, Value is like beauty…it’s in the eye of the beholder. Value is not based upon what the Health Professional (or any business owner) believes it to be. Value is based solely on what the Patient (as Consumer) believes it to be.
2. Perception vs Perspective
Perception is how an individual sees the world through their own eyes.
Perspective is how someone sees the world through someone else’s eyes.
The vast majority of health professionals are prisoners of their own Perception. The Impact Health Platform has been built from the Perspective of BOTH the Patient AND the Health Professional.
Impact Health is the only company in the world that actually thinks of the health professional first, not patients. We’ve built a system that helps health professionals even, at times, in spite of themselves.
If you were to attend the Impact Workshop & Retreat, you will learn, among a great number of things, what it means to actually add real value to the lives of patients and how to get compensated, fairly, for it.
We show Health Professionals exactly how to do it.
And, we show them for Free (as long as they follow the process).