Market Monitor

Two Common Use Cases for Market Monitors: Referrals and Recruiting

A majority of DocDB usage falls into two categories: referrals and recruiting.

Growth by Referrals

In a growth-oriented healthcare company, referrals are an important source of growth. Many companies look at historical records (for example, claims data and other billing exhaust) in order to identify new referral sources. DocDB is a little different in that it identifies potential referral sources the moment there is an indication that they have entered your market.

Let's use the example of one of DocDB's first customers, an endodontic firm with 70 locations, Plus Endodontics (not their real company name). Plus Endodontics sees most of their referrals come from general dentistry clinics.

When Plus Endodontics reached out to DocDB, they would search with Google once a year to look for new dental clinics opening up in any of their 70 markets. That's a tiresome, laborious process, and it meant that they could easily miss new clinics opening up. Some locations could be open for months before they became aware of it.

Plus Endodontics provided DocDB with a list of all of their markets (based on radius from their endodontic clinics). The DocDB onboarding team met with them on a weekly basis to understand more about what qualified a referral for them. Was it dental clinics with a single owner? New locations built by chains? What about clinics that did sleep dentistry? After helping them identify what qualified as a solid growth opportunity, we refined their agentic workflow in order to identify and provide context for their sales team to prioritize. Now they get a weekly email identifying new referral opportunities that their sales and marketing team can pull into their CRM (Salesforce, HubSpot, etc) and do outreach.

This use case is not limited to dentistry, of course. A similar example of this is in behavioral health. Another DocDB client, Volar Health, works specifically with autistic children in multiple states. Their primary source of referral growth is from pediatricians or other clinicians working with children. After working with Volar to determine what characteristics qualify their leads, DocDB provides them with a monthly list of high-priority leads that have either moved into their markets from elsewhere or set up a new clinic serving their patient demographic.

If this use case sounds interesting to you, get in touch with us! You can contact us using the link at the bottom of the page.

Growth by Recruiting

Recruiting clinicians is challenging: the demand for clinicians is going up and the supply is going down.

Apex Therapy has been actively working to recruit physical therapists in several creative ways, including sponsoring classes and reachign out directly to graduates. Apex reached out to DocDB to see if we could monitor when a physical therapist appeared near any of their 100+ locations across the US.

During the onboarding process, the customer success team at DocDB worked to understand what characteristics were most important to them when recruiting physical therapists. We determined that they wanted to know about any PT moving into their market but they were particularly interested in PTs with 5-10 years of experience and, ideally, most of that experience in a single location (indicating that they did not 'jump around' much between employers). DocDB was able to set this up and provide them with a weekly list of highly qualified candadites for their in-house recruiting team to reach out to.

Growth by Intelligence

In either cases, recruiting or referrals, DocDB provides additional tools to help qualify opportunities. You can use DocDB to create lists of providers to gather further intelligence: practice affiliation, enrich with contact information, assess provider tenure, and much more.

Transform Your Provider Intelligence Strategy Today

Connect with our team to learn how DocDB can give you the market edge. Shoot us an email at [email protected].