Should Businesses Praise Competition?
According to Dr. Jordan Sudberg, when it comes to treating pain, the role of competition can be a tricky one. On the one hand, evidence supports the claim that patients who receive care from a doctor who praises their competition are more likely to continue receiving care from that doctor. While this is great for businesses, it has an unfortunate downside: patients may neglect their health in response to competitive messages, leading to worse long-term outcomes.
However, the opportunities presented by competitive praise must not be overlooked. There are many reasons why it’s a good idea for healthcare providers to praise their competition:
Competition is essential to the success of most businesses. While many believe that competition stymies progress, this is not true for all industries. Individuals can only produce goods and services with the assistance of their competitors, who help set prices, provide capital and innovate new products. Competition drives businesses forward and helps ensure that all individuals receive the best products possible.
Competition is a sign of a healthy industry. When companies compete to provide their customers with the best product or service possible, it’s clear that the healthcare industry is in good shape. Competition is necessary for innovation and the advancement of medicine, and there’s nothing wrong with doctors taking advantage of this fact to help their practice succeed.
Competition drives research. A lack of competition leads to stagnation, which can lead to the failure of businesses. This is another reason for healthcare providers to praise competition. Praising the products and services offered by competitors spurs many companies to improve their offerings, which leads to better products and services for everyone.
Competition among doctors is good for patients. In an ideal world, all doctors would strive to provide their patients with the best possible care. However, the reality is that doctors are individuals who want to succeed in their way. For this reason, they may choose to ignore — or even undermine — their rivals. When patients receive care from doctors who openly praise their competition, it’s a sign that the doctor has their patient’s needs at heart.
Competition should not be discouraged outright. Some opponents of praise claim that its role should be restricted to those cases where competition is valid and beneficial. For instance, they argue that the treatment of competition should be limited to cases where the competing doctors are truly worthy of praise — i.e., those who have successfully delivered great care.
While this is a point that deserves to be discussed more thoroughly, it does not detract from the overall beneficial impact of praising competition. If a practice appropriately acknowledges its competitors and encourages them to learn from each other, it can only help all of its clients in the long run. From the above discussion, it should be clear that praising one’s competition is not only a smart business strategy but also an important social gesture.
Conclusion
Most people assume that competition is a drawback, but Dr. Jordan Sudberg asserts that it’s a sign of good health in the industry in which you work. If you work with chronic pain patients, it’s important to remember that the health of your patients is equally as important as your practice. Praising your competition can help you set yourself apart from other practices, gain new patients, and improve patient outcomes down the road.