The Business of Healthcare

Warranty as a Medical Practice Competitive Advantage

February 11, 2015

In a very real sense, all physicians give a limited warranty – it’s called malpractice liability.

Certainly no one wants to be seen as an easy target, but in many cases a quick resolution of a patient’s unhappiness is far cheaper than the costs of a dispute; not simply those associated with a potential lawsuit, but also time, hassle, and publicity, even if the publicity is limited to the hospital C-Suite.

Last, giving an actual warranty, not of outcome but of satisfaction, with a pledge to resolve issues, serves as a competitive advantage.

If you’re already giving a de jure or de facto warranty, why not leverage it to your benefit? It’s likely that your competitors never will.

Comment or contact me if you’d like to discuss this post.

Mark F. Weiss

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