I received this inquiry recently about branding and how to name a medical practice. Since it is a good question, and one that many of you may have, I decided to respond via a blog post.
“What if you’re branding a physicians group where the brand must supersede the individual physician names?
In my area, physicians are known for being in Premier Radiology, Tennessee Orthopedic Alliance, Vanderbilt Medical Group.
Any thoughts on the pluses and minuses of brand versus individual physician name?”
- What is your vision for your medical practice or physician business? Are you going to be the mom-and-pop practice of the neighborhood with strong very local ties to the community? Do your long term vision and business plan call for expansion to several sites with multiple partners.
- What is your exit strategy for your medical practice or physician business? Are you going to let it fade away by attrition as you age – it “dies” when you retire? Do you plan to sell it to a younger physician as you near retirement? Are you eyeing some neighboring practices to take over, or hoping someone is checking you out for purchase?
- How important is it to the credibility and identity of your medical practice that your name be on the door? If you are the recognizable name Expert who is likely to attract a flood of business, perhaps you do want to be the only name mentioned.
Let me remind you that a brand is a promise to your customers or patients. However you name your medical practice or business, consider what experience you want to promise your future customers or patients.
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