Introduction to Consulting
An overview of the consulting practice industry, the opportunities available to physicians in consulting groups, solo consultants, and the federal government, why businesses hire physician consultants, and what successful physician consultants provide and how they provide it.
Your Consulting Niche
The importance of selecting the “right” consulting niche that fits your needs and the needs of the marketplace. What physician attendees are truly good at and can be compensated for will be stressed.
Initial Call from a Potential Consulting Client – Exercise
Techniques for demonstrating competence and landing the client.
Building Your Consulting Brand
Techniques for defining and building a successful consultant brand, including: developing your branding elevator speech, using feedback from your clients, using testimonials, references, referrals, branding services, ideas, and concepts.
Landing Your First Clients
The initial hurdle physician consultants will have to overcomeis how to deal with the “experience” and “references” questions when they are first starting out. The faculty presents fifteen different effective techniques for landing your first consulting clients. Physicians will be taught to make themselves desirable and “go-to” consultants that clients seek out. Case studies will be presented.
Fees, Billing, and Collection
The advantages and disadvantages of different fee structures that successful physician consultants employ. These include hourly rates, fixed fees, project based fees, contingent fees, and value based pricing. The faculty will emphasize how to be fairly compensated for your knowledge, expertise, talent for problem solving, and bringing value to the table.
Setting the Scope and Goals of the Assignment
The crucial importance of properly setting the scope of the assignment, the goals to be achieved, and how to deal with scope creep.
Managing Client Expectations
How to best set, meet, and exceed the expectations of your consulting clients. Case studies.
Communication with Your Consulting Clients
Best practices for keeping your clients informed, obtaining approvals, and gaining buy-ins during the entire consulting assignment.
Marketing and Business Development for Your Consulting Practice
Best practices and techniques for cost-effectively and successfully branding, networking, building your credibility, and marketing your consulting practice. Case studies, form letters, surveys, and checklists are presented to demonstrate key points.
Delivering a High Quality Product and Service
The faculty discuss qualifications, experience, and your consulting protocol and methodology for delivering the highest quality service. How to exceed the expectations of the client and providing added value based on consultants’ insight and nuanced in-depth knowledge are be explained and demonstrated with case studies.
Spotting, Creating, and Capitalizing on Emerging Consulting Opportunities
How to spot, develop, and capitalize on emerging trends and potential consulting opportunities. Case studies of “looking at what everyone else looks at and seeing something different” are presented.
Business Side of Consulting: Running Your Practice
The myriad of techniques for starting and building a successful consulting practice. Forms and procedures for assignment proposal intake, billing systems, updates to the client and numerous other business considerations for the physician consultant. Cost effective use of support staff, letters of agreement, client updates and communication will be provided. Risk management techniques and insurance requirements are discussed. Best practices in physician consulting office management are presented. A discussion of the utility and necessity of insurance, corporate structure and risk management is presented. Faculty present the key elements of a consulting assignment and provide advice on how to succeed at each stage and make the assignment successful for both client and consultant.
Client Retention, Satisfaction, and Obtaining Repeat Business
The faculty numerous techniques including transparency, setting realistic goals, consistency, connecting with clients, making them your advocates, and obtaining letters of reference, etc. A sample closing memo and original research will be presented. Case studies of highly successful consultants and how they continue to obtain repeat business are presented.
Negotiating your Consulting Fee
One of the most challenging aspects of acting as a physician consultant is negotiating your consulting fee with a potential client. Faculty will demonstrate how to be paid for value, service, and the unique abilities of the consultant. Attendees will engage in an exercise demonstrating techniques for negotiating the highest fees available for a specific project.
Faculty demonstrate how to realistically analyze the size of your potential consulting market, the competition and set realistic and reasonable consulting expectations.
Faculty present ethical best practices and discuss ethical dilemmas and solutions for consultants. Best interest of the client, conflicts of interest, confidentiality, and creating client’s independence are presented.
Unique Challenges of Physician Consultants
The faculty discuss the unique and vexing challenges that physician consultants face and provide proposed solutions to these challenges.