Don’t diagnose before you’ve done a complete evaluation. Even if the diagnosis is correct–and it usually is–patients will not believe doctors if they have not been heard and examined.
Don’t prescribe before you diagnose. Physicians need to arrive at a diagnosis before they recommend a therapeutic intervention. Chest pain could mean a heart attack or pneumonia or strained muscles. Further, patients will not move forward with treatment unless they believe the diagnosis. Explain to your client what the issue is before you recommend a therapeutic financial intervention.
Don’t sell; lay out options and respect the client’s autonomy to choose. Physicians offer patients choices, even it’s the choice of doing nothing and taking a new medication. Your clients can and will make good choices if you can frame the issues.
Don’t talk about the suture material. Physicians tell patients what they need to know to make informed choices; patients don’t need to know about what suture material surgeons used. Be thoughtful about which details you do NOT need to discuss with clients. They hire experts like you to take care of those considerations.
Inspire your clients to form habits that promote financial health. Patients take medication as prescribed and follow doctors’ orders about 50% of the time. Most smokers want to give up the habit, and obese people want to lose weight, just like most clients want to save more. Telling clients what to do is not enough. Help them change their financial habits to promote financial health.
Don’t forget that you are helping clients–not just optimizing numbers. Have you ever seen someone jump for joy because they lowered their cholesterol? They get excited about being there for their family and doing the things they love to do. So do your clients.
Adopting physicians’ best practices can help you successfully engage more prospects and clients.
What do YOU think?
© 2016. Vicki Rackner MD. All rights reserved.
Vicki Rackner MD works with financial advisors who want to acquire more physician clients, She also helps physicians who want to thrive in the era of the Affordable Care Act. This author, speaker and consultant offers a bridge between the world of medicine and the world of business. Contact her at (425) 451-3777.