Start your staff rewards program and learn how ModMed® streamlines program management
For many practices, a key factor to success is motivating your team to deliver exceptional patient care. Aesthetics incentive programs can support that, while also helping cultivate strong patient relationships.
In a recent webinar, “Success in Aesthetics: Building Incentive Programs,” Glenn Morley of BSM Consulting discussed how our specialty-specific software solutions can support the seamless launch and management of aesthetic incentive programs, helping improve staff engagement, patient satisfaction and overall practice performance.
Here, we’ll review the takeaways from the webinar, so you can begin to develop programs that align with your practice’s goals.
Design your aesthetics incentive program
Design an aesthetics incentive program that makes sense for your practice’s individual goals and culture.
Understand state regulations
Before designing any commission or bonus plan, it’s essential to be aware of the state regulations governing such programs. Consult your attorney to make sure your programs are compliant with your state’s legal requirements.
Tie incentives to desired activities
The success of an incentive program lies in connecting the activities you want to encourage with meaningful incentives. Consider the specific goals and objectives of your practice and determine which behaviors and outcomes should be rewarded.
For example, you may want to align your sales with industry rewards or incentives offered by certain manufacturers or brands. In this case, you might explore how staff can focus on a suite of products that moves your whole team closer to specific reward thresholds.
Another example is to tie incentives to aesthetics trends. For greater impact, you could align incentive efforts with your practice’s marketing efforts to increase market share in your geography.
These programs may evolve with time because they follow trends that change quickly, too. Use your practice analytics to uncover trends and develop agility that moves your team forward.
Consider different plan structures
During our webinar, ModMed experts discussed two types of plans: commission-based plans and bonus plans.
- Commission-based plans pay employees a percentage of productivity or sales
- Bonus plans may include base salary, hourly rates and fixed bonuses
Determine which plan structure best fits your practice and objectives. You may want to work with your financial teams to discover which type of plan is most appropriate for your situation.
Establish criteria and tiers
Clearly define the criteria for earning incentives and consider implementing tiered structures.
Tiers allow for different levels of rewards based on performance or achievements, motivating employees to strive for higher goals. Your results may be stronger when criteria are fair, attainable and measurable.
The webinar shared a case study where a practice designed a tiered incentive plan. Each tier corresponded to different annual payout amounts. The criteria for meeting each tier was established based on specific goals and objectives. Tier 1 might pay a $1,000 bonus to staff who met the criteria, while tier 4 might pay a $2,500 bonus.
Incorporate team-based incentives
Consider including a team bonus plan to encourage collaboration and engagement among all staff members involved in the patient journey. This can foster a sense of unity and shared responsibility within the practice.
Leverage tracking and analytics
Accurate data collection is crucial for tracking progress and determining eligibility for incentives.
Practices can use software like ours to monitor revenue goals, shared values and industry reward programs.
Customize incentives to your practice
Every practice is unique, so tailor your incentive program to align with your business plan, services offered and specific revenue thresholds. Consider factors such as staff roles, location, services, products and patient engagement initiatives when designing your program.
As you discover more about your program’s success, you can always make adjustments that better serve your patients or reward staff. These changes may vary by practice or office location, too.
Attract and retain aesthetics staff
Incentive programs that reward and recognize the contributions of every team member can boost staff engagement and foster loyalty.
During our webinar, experts highlighted the benefits of team bonus plans, where all staff are included in the incentive structure as recognition for their support of the patient journey — even if they’re not directly interacting with patients in exam rooms or helping patients select services and products.
These kinds of incentives can help staff feel appreciated and invested in your practice’s success. This feeling of belonging can help attract and retain top performers during a period when some practices may be struggling with staffing shortages.
ModMed provides the transparency your team needs to feel valued, too. With our software, you can track incentive plans and automate calculation of commissions based on roles, services and products.
Improve patient satisfaction
Another significant advantage of well-structured incentive programs is the positive impact they have on patient satisfaction and engagement.
When your staff is motivated and incentivized to provide exceptional care, patients may notice and respond. In the webinar, experts discussed how incentive plans led to increased collaboration and improved staff-patient relationships in a practice setting.
By rewarding staff for their contributions to patient satisfaction, you can work together to foster a patient-centric environment. Then, validate your strategies on a regular basis, using your practice analytics to create performance reports and drive ideas to continue improving patient experiences.
Launch seamless incentive programs
Our software helps simplify implementation of your aesthetics incentive program.
An integrated commission tool enables your practice administrator to configure the program with ease, setting up commission percentages or flat rates based on various factors such as time, role, service or product.
The software’s flexibility extends to revenue thresholds and reconciliation. You can establish quarterly revenue goals and offer opportunities for performance reconciliation at the end of the year. This approach accounts for seasonal variations and provides an incentive for consistent growth throughout the year.
Our software performs efficient commission calculations, eliminating the need for manual tracking through spreadsheets or other cumbersome methods.
Start your aesthetics incentive program
By leveraging our practice management system and its integrated commission tool, you can support your practice’s performance through engaging and effective incentive programs.
Promoting staff engagement leads to a patient-centric culture, helping to improve patient satisfaction and loyalty. With a seamless program launch and comprehensive tracking, our EHR empowers physicians to drive practice success, enhance staff performance, and cultivate long-lasting patient relationships.
Investing in software that supports robust incentive programs can propel your practice to new heights, fostering a motivated team and a thriving patient community. Embrace the power of incentives with our integrated tools.
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This blog is intended for informational purposes only and does not constitute legal or medical advice. Please consult with your legal counsel and other qualified advisors to ensure compliance with applicable laws, regulations and standards.