COE Marketing and Business Development

Question 1

Which component of a SWOT analysis examines internal positive attributes that give an ophthalmology practice a competitive advantage?

Accepted Answer

Strengths

Answer

Weaknesses

Answer

Opportunities

Answer

Threats

Question 2

A key performance indicator (KPI) best used to measure the effectiveness of a physician referral development program is:

Accepted Answer

Number of new patient appointments from referring providers

Answer

Total gross revenue

Answer

Average wait time for new patients

Answer

Patient cancellation rate

Question 3

In healthcare marketing, 'brand positioning' for an ophthalmology practice most accurately refers to:

Accepted Answer

How the practice is perceived relative to competitors in the minds of patients and referrers

Answer

The geographic location of the practice's offices

Answer

The total advertising budget allocated per quarter

Answer

The number of subspecialties offered by the practice

Question 4

Patient lifetime value (PLV) is an important marketing metric because it helps a practice:

Accepted Answer

Calculate how much revenue a patient is expected to generate over their entire relationship with the practice

Answer

Determine the average cost of a single office visit

Answer

Measure the number of patients seen per physician per day

Answer

Track insurance reimbursement trends over time

Question 5

When developing a marketing plan for an elective procedure such as LASIK, the FIRST step should be:

Accepted Answer

Identifying the target patient demographic and their decision-making drivers

Answer

Launching a social media advertising campaign

Answer

Setting a discount pricing strategy

Answer

Hiring an external public relations firm

Question 6

Which approach best describes an ethical and effective strategy for managing negative online reviews of an ophthalmology practice?

Accepted Answer

Respond professionally and offer to resolve concerns offline, without disclosing PHI

Answer

Delete all negative reviews by contacting the review platform

Answer

Ignore negative reviews to avoid drawing attention to them

Answer

Post positive reviews under staff names to dilute negative ones

Question 7

Market segmentation in an ophthalmology practice context involves:

Accepted Answer

Dividing the patient population into distinct groups based on shared characteristics to target marketing more effectively

Answer

Splitting the practice's revenue across multiple service lines equally

Answer

Assigning physicians to specific geographic territories

Answer

Separating marketing expenses from operational expenses in the budget