Hello,

Every stylish woman has a little black dress.

As you attract, engage and serve more doctor clients, think of your signature presentation as your “professional little black dress.”

How well does your signature presentation work? Does it garner attention—and for the right reason? Does it fit you? Does it support your practice-building goals?

Here are the biggest mistakes financial advisors make with their signature talk:

1. They don’t have a signature talk.
2. They think, “If I just demonstrate to doctors how much I know in my talk, they will want to meet with me.” 
3. They fail to tap into what doctors really desire, and instead deliver content they think doctors SHOULD know.
4. They fail to address and overcome objections. 
5. They fail to offer follow up for doctors who do not immediately say yes.
   
   

Here are a few tips to create a successful signature talk that delivers results:

1. Understand what your doctor prospects desire.
2. Understand and overcome doctors’ objections as they consider moving forward with you.
3. See your signature talk as a bridge that transports doctors from where they are now to where they want to be. 
4. Tell stories.
5. Make doctors the heroes of your stories.
   
   

Understand that you always have the ability to craft a more compelling, attractive and effective signature talk. 

Click here to view a video with more tips.

To your success,
Dr. Vicki
Vicki Rackner MD
Principal, Engaging Doctors

Hello,

Do you ever find yourself in uncomfortable situations, and wonder about the best thing to say?

I used to feel very uncomfortable when people gave me compliments. Inevitably I would say things to diminish myself. If someone complimented my dress I would say, “Oh, this old thing…..” Or, if someone recognized an accomplishment I would say, “I just got lucky.” Or, if someone recognized an act of kindness, I would say, “Anyone would do that!”

I came to recognize that this response did not serve either myself or the person delivering the compliment. I felt embarrassed. The person who delivered the compliment felt dismissed. Both of us left the encounter frowning.

I knew I wanted to say something different, but what would it be?

I sat down and made a list of things I could say when someone delivered a compliment. Then I practiced. I said the new scripts out loud as I went for walks. 

Then the day came when I got a real compliment. I took a deep breath and delivered my new practiced script. And I noticed something. Both of us were smiling at the end of the encounter.

You may find yourself in situations that make you feel uncomfortable as you attract, engage and serve more doctor clients. Here are a few:

**Starting a Conversation in a Social Setting**  

   You want to begin a conversation with a doctor you meet at a dinner party or community event.

**Prospecting a Doctor Who Treats You or Your Family**  

   You want to approach your personal physician or a specialist treating a family member.

**Getting Past the Gatekeeper**  

   You want to establish contact with a doctor, but their receptionist or assistant acts as a barrier.

**Requesting Introductions to Other Doctors**  

   You want to ask a doctor client for introductions without jeopardizing your relationship.

**Handling Rejection**  

   You want to know what to say when a doctor declines your offer or says no to scheduling a meeting.

 **Dealing with Being Ghosted**  

   You want to address a situation where a doctor stops responding to your emails or calls.

**Recovering from a Mistake**  

   You want to know what to say or do if you’ve made a professional error or a faux pas.

**Discussing Fees or Compensation**  

    You want to handle fee discussions when a doctor questions the value of your services or expresses resistance.

**Managing High Expectations**  

    You want to navigate situations where a doctor expects immediate results or personalized attention beyond your capacity.


Click here to see a complete list of 20 situations that elicit discomfort for financial advisors.. 


Here are some tips:

1. Identify specific situations that make you feel uncomfortable. 

2. Reflect on what do you currently say or do. How is it working for you? 
 
3. Generate new ideas. What else could you say? Identify the script that is "you."

4. Practice new scripts for success so you're prepared next time!
 
Please feel welcome to share scripts that work well for you!


To your success,
Dr. Vicki

One of the biggest questions I get is, “How do I get my message in front of more doctor prospects?” 

And the unstated questions, is, “And how do I do this knowing I HATE to sell?”

Here’s an idea for you.

You meet with your clients on a regular basis.

How about making these meetings into celebrations—complete with cupcakes! 

At your scheduled meeting, remind your clients where they were when you first met. Ideally you wrote down their own words you can use today. “Do you remember what things were like for you when we first met? You got up at three in the morning wondering if you could retire before age 75. You had regular arguments in your partner about money. Now look at you!  You have a plan to retire at 61. You thrived through the pandemic. You replaced uncertainty with certainly.”

Then celebrate! Bring out the cupcakes. Bring balloons if you wish. Celebrate the transformation you facilitated! You have just helped your clients move towards TrueWealth.

Then take the next step. Say, “We both know that today there are physicians who are where you were when we met. The difference between you and them is that they are suffering in silence. How can we get the message out that there is hope?"
 
Then be quiet. Let your client generate some ideas about how you can get solid financial literacy information into their hands.

Easy-peasy! You’re cultivating a culture of introduction with a heart of service.

Let me know how this works for you!


To your success,
Dr. Vicki

Do you have clients who want to accelerate wealth-building, but they tell you they can’t find more dollars to invest? 
 
The solution is simple. Spend less and save more.
 
The problem is that this behavioral change is not easy. 
 
Consider what your clients do with tax refunds or other financial windfalls. Do they deposit the checks into their investment accounts and tell you to invest 100% of it? No! They spend it! 
 
Spending-related behaviors become habits, and habits can be hard to change. Just ask anyone who's made a New Year’s resolution. 
 
Your clients are not bad people; they’re most likely responsible people with good intentions. They simply make the mistake of letting their human brains run on autopilot. 
 
Our Paleo Brains—the brain software running when we were hunter/gatherers 300,000 years ago—shape our behaviors today. It informs the way you respond when you come across food or money or a possible sexual partner.

For example, saving food was not a viable option for hunter/gatherers. That's why your Paleo Brain urges you to consume food when you see it. In fact, it might tell you to eat til it hurts; you don’t know when you’ll eat again.
 
The Paleo Brain tells us to manage money the same way. When you have it, consume it! Spend it!
 
About 12,000 years ago our brains developed a prefrontal cortex.  Let’s call it the Planning Brain. The Planning Brain can imagine a better future and make a plan to bring the dream to life. 
 
This brain upgrade launched a lifestyle upgrade from hunter-gatherer to farmer.
 
If only all of your clients made their day-to-day money choices with their Planning Brains. Then they could reliably achieve the dream of a comfortable retirement in which they don't outlive their money.  
 
However, human brains on autopilot put the Paleo Brain rather than the Planning Brain in the driver’s seat of wealth-building. The predictable investing errors described by behavioral finance are the natural consequences of managing money with the Paleo Brain. 
 
Further, we live in a world in which we’re bombarded with marketing messages that feed the urge to spend. 
 
The result? Most of your clients spend unconsciously, and then consciously invest what’s left over. 
 
Imagine if this were flipped around so that your clients saved unconsciously and spent consciously. 
 
When I spoke at a recent meeting I had a chance to listen to a presentation by Vince D’Addona. He talked about his experience with his new tool called Currence. His software helps clients increase savings rates without feeling deprived. 
 
I know that this sounds like an outrageous diet that promises you can eat as much cake as you want and lose weight.

However, Vince and David have results! 

Investors who use the Currence software increase their savings rates to 32% of after-tax dollars. Compare this this to the national average savings rate of 4% of gross income. 
 
As Vince explains, “Currence puts a speed bump in spending. Further, when people consciously assign a job for each dollar they earn or acquire, they naturally tap into the thrill of creating the financial freedom to do what they want to do when they want to do it. Our clients come to us saying,’ This is great! I want to increase my saving from 10% to 30%.' We often have to slow them down. 'How about increasing from 10% to 20% and then go from 20% to 30%.'”
 
How does Currence work? Vince and David are in conversation with academic centers to study their tool with scientific rigor.
 
However, today we don’t need to understand how a tool works to get the desired results.
 
It's not just your clients who benefit from increasing their savings rates. Imagine what could happen to your own business if you helped your existing clients free up more dollars you could redeploy to accelerate wealth-building. You build you business while side-stepping the cost of client acquisition!
  
As a financial services professional, you have a chance to help physicians take control of their financial destiny and make their dreams come true. 

I'm here to support you if you do!

My best,
Dr. Vicki

The most effective way to accelerate your growth is to inspire your physician clients to share your name with their friends and colleagues.

How do you do that?

First, here's what you don't say, "I want to grow my business. Do you know any doctors with a net worth of $5M or more who would hire me?" You become the focus of the conversation. It doesn't work.

Further, you don't say, "Look, I've helped you and I'm wondering if you could help me by introducing me to all of your friends and colleagues and neighbors." Now you put your the focus on your client. That doesn't work very well either.

Introductions are not about you or your clients; they are about the physicians who are suffering in silence.

Here’s a script you can deliver to delighted doctor clients. 

“Do you remember what your life was like when we first met? You told me you would wake up at 3 AM and wonder whether you would EVER be able to retire. Today you just said, ‘I sleep like a baby because I have a plan to achieve my legacy.’ 

“What you may not realize is that there are other doctor today who are where you were when we met. Should you hear any doctors talking about (taxes, how to move up retirement, how to protect assets in the event of lawsuits…etc) please invite then to reach out to me for a free resource. Hard-working physicians like you should not suffer in silence. I’m here to help.”

Let me know how that works for you.


As a medical billing professional, you have a chance to help physicians take control of their financial destiny and make their dreams come true. 


I'm here to support you if you do!

My best,
Dr. Vicki

Human brains are the source of endless fascination.

How and why do humans make the choices they do--including money choices?

A question the human brain obsesses about is, "Right here, right now, am I safe?"

I just recorded a podcast episode with my story about how the human brain answers this question. I recorded it for my community of parents of kids with OCD. However, I lay out the difference between the Paleo Brain--the brain as it was 300,000 years ago when our ancestors were hunters and gathers--and the New Improved Modern Brain with the prefrontal cortex.

When someone is concerned about safety--as are most people on this planet facing the ongoing challenges of COVID--the ancient Paleo Brain is most likely to be in the driver's seat driving choices. This is the part of the brain that responds to danger.

This is also the part of the brain that makes predictable money mistakes.

I'm hoping the podcast will give you some language to have meaningful conversations with your clients.  Click here to listen .

Let me know what you think! 

To your success,
Dr. Vicki

One of the most frequently asked question I get is, "How do I find doctors who could use my services?"

I usually answer with a question, "Could you please describe the doctor most likely to benefit from your services that would be a good match for you?"

Maybe the answer is "Orthopedic surgeons in private practice." Or "Academic employed physicians." Or, "Woman cardiologists."

Then I usually say, "Your goal is to be the go-to-guy or go-to-gal for that group of physicians."

Then advisors usually ask, "But how do I get my FIRST doctor lead, prospects and client?"

One tool that you can use is Zocdoc.  This is an online scheduling platform that you can use "off label." You simply describe what kind of doctor you want to see and your zip code. Zocdoc then offers you the names of such doctors within a radius you define. This is prospecting list for you. You can hire a virtual assistant who can create a list for you.

Most of the doctors on the platform are in private practice; however this is not always true.
 
When you reach out for the first time, don't start selling. Instead, get curious. What is their life like now? 

Jim Fratello has had great success engaging doctors by distributing copies of the book The 9 Money Mistakes Doctors Make. He hands a copy of the book to doctors and says, "Could you please take a look at this book and tell me what you think." Jim says that doctors often say something like, "Where were you 20 years ago?" He says that he also solicits opinions/insight /experiences with their own life experiences or those of their colleagues.  Jim created a custom bookmaker with a picture of the book on one side and his contact information on the other.
 
So, now you have a way of generating a list of doctor leads and taking a fun and easy action step. 
 
How many conversations with new doctors would you like to have each week?

Give it a try. Let me know how it works for you!


My best,
Dr. Vicki

Selling to medical practices requires a unique approach that goes beyond traditional sales tactics. Healthcare professionals prioritize patient care and are highly selective when it comes to purchasing decisions. Therefore, adopting a consultative selling strategy can be the key to building lasting relationships and successfully selling your products or services to medical practices.

Understanding their Needs
To effectively sell to a medical practice, it is crucial to understand their specific needs and challenges. Conduct thorough research to gain insights into their patient demographics, operational processes, and technological requirements. This knowledge will enable you to tailor your sales approach and offer targeted solutions that address their pain points.

Establish Trust and Credibility
Medical professionals rely heavily on trust and expertise. Position yourself as a trusted advisor by demonstrating your knowledge of the healthcare industry, relevant regulations, and emerging trends. Share success stories or case studies showcasing how your offerings have positively impacted similar practices. Building credibility through testimonials and references can significantly influence their decision-making process.
  
Listen and Ask the Right Questions
Consultative selling hinges on effective communication and active listening. During your interactions with medical practitioners, listen attentively to understand their challenges, goals, and expectations. Ask open- ended questions that encourage them to share their insights and concerns. This approach allows you to uncover underlying issues and offer tailored solutions that meet their unique requirements.

Offer Value and Education
Instead of focusing solely on the features of your product or service, emphasize the value it brings to their practice. Medical professionals want to understand how your offering can improve patient outcomes, streamline workflow, or enhance efficiency. Provide educational resources, such as whitepapers, webinars, or workshops, that empower them with valuable knowledge and insights.

Long-Term Relationship Building
Selling to medical practices is not just about closing a deal; it's about building long-term relationships. Stay engaged with your customers beyond the initial sale. Offer ongoing support, training, and updates to ensure they maximize the benefits of your offering. Proactively address any concerns or issues that may arise, demonstrating your commitment to their success.

Summary
Consultative selling is a powerful approach when targeting medical practices. By understanding their needs, establishing trust, actively listening, offering value, and focusing on long-term relationship building, you can differentiate yourself from competitors and become a trusted partner in their healthcare journey. Remember, selling to medical practices is not a transaction, but a collaborative effort to improve patient care and practice efficiency.

Billing claims for Federally Qualified Health Centers (FQHCs) can present several challenges due to their unique nature and requirements. FQHCs are community-based organizations that provide comprehensive healthcare services to underserved populations, typically with a focus on low-income individuals and those without health insurance. Here are some key challenges in billing claims for FQHCs:

1. Complex reimbursement structure: FQHCs operate under a complex reimbursement system that includes a combination of prospective payment rates, cost-based reimbursement, and encounter-based payments. Navigating these different payment mechanisms can be challenging and requires a thorough understanding of the guidelines and regulations.
2. Slower reimbursement timelines: FQHCs often experience delays in receiving reimbursements due to the need for cost reporting and reconciliation processes. This can create cash flow challenges and strain the financial stability of the organization.
3. Encounter data reporting: FQHCs are required to report encounter data for each patient visit to receive reimbursement. Accurate and timely submission of this data can be demanding, especially for centers with high patient volumes, leading to potential errors and billing delays.
4. Compliance with documentation requirements: FQHCs must comply with specific documentation standards to support their claims. Meeting these requirements, such as documenting the appropriate level of service and medical necessity, can be time-consuming and necessitates thorough training for providers and staff.
5. Limited resources and expertise: FQHCs often operate with limited resources and may lack specialized billing expertise. This can make it challenging to stay up to date with evolving billing and coding guidelines, leading to potential errors, claim denials, and reduced reimbursements.

Overcoming these challenges requires FQHCs to invest in comprehensive training, employ knowledgeable billing staff, and leverage technology solutions to streamline billing processes, improve accuracy, and maximize reimbursements while ensuring compliance with regulations.

​Written by: Tim W. Warren, CEO, CMRM

​

I once had a mentor who could perform true marketing magic.

Give him ANY objection and his answer was “That’s EXACTLY why you need me.” 

Then—right there on the spot—he would formulate what sounded like a water-tight courtroom closing argument. Objection dismantled.

He didn’t go on defense when it came to objections. He went on offense.

Every doctor has a wealth-building plan. It’s the one they’re using right now. And the statue quo is a formidable foe.

In order for your doctor prospects to say YES to you, must do two things. 

First you must help prospects tap into their desire for the outcome you deliver.

Second, you must overcome their resistance to change. 

The sources of your prospects' resistance take the form of objections.

Would you like some help identifying and overcoming objections —without feeling pushy or sales-y?


I invite you to the upcoming training about clearing away prospects’ objections. You will take away

• Ways to identify your prospects’ objections--including a powerful AI prompt
• Classes of objections
• Timing for objection conversations—and it’s not at the end of the discovery call when the prospect says, “I’ll have to think about this.”
• How to include the objection conversation in your marketing materials.
• The objection-busting framework. 

You serve your clients the most effectively when you clear the path for them to take the next steps with you.  That means becoming more skilled and confident in your ability to clear objections.

Join us Thursday, March 20th at 9 AM Pacific for a live webinar about how financial advisors can successfully identify and overcome doctors’ objections. You'll discover what to say and when to say it to inspire doctors to take the next steps with you. 

Think about the value of replacing uncertainty about the uncomfortable conversations around objections with certainty that you know what to say and do--in any situation.  And do this without sounding pushy or “salesy”.

Compare the investment of $97 to the value of getting more doctor prospects to your educational events, and converting more of them more quickly to clients.


Click here to register for this live training.

If you’re registered in the 1% Club, participation in this training is included in your membership. Plus each week of the month you get tips to improve your performance by 1%.

Can't make the live presentation? We've got you. You will have access to the replay.  




To your success,
Dr. Vicki




PS Join us for live training about how to successfully manage doctor prospects’ objections. Click here to register. 


Click here to register for the 1% Club.