Volume to Value-Based Healthcare: 4 Marketing Tactics to Use in the Transition

physician consultation with patientUntil recently, hospitals operated mostly on a fee-for-service approach, meaning that their goal was to deliver the greatest number of services to the greatest number of people. Now, in response to changing markets and customer preferences, hospitals are transitioning to value-based models.

In value-based healthcare models, hospitals are rewarded for helping keep people healthy and for improving the health of those who have chronic conditions in evidence-based, cost-effective ways.

In a fee-for-service model, patient treatment is often siloed — each department independently addresses the symptoms that fall under their care umbrella. Value-based care, on the other hand, focuses on 360-degree patient health, connecting departments to improve overall health long-term. Best practices in value-based care include optimizing patient time, experience, and data, as well as payer resources.

There are many potential benefits of value-based care for both providers and patients, including:

  • Decreased medical costs, especially for those with chronic conditions
  • Increased patient satisfaction and engagement
  • Bundled payments that cover full care cycles
  • Prices reflecting patient outcomes
  • Healthier overall populations

Healthcare marketing teams play an important role in helping organizations smoothly transition to a value-based care model. Let’s look at four specific tactics:

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Jessica Friedeman

Jessica Friedeman

Jessica Friedeman serves Evariant as VP, Presales Engineer, providing technical and industry support in the sales process. Leveraging over a decade of experience in the healthcare industry, Jessica works closely with the sales team to mold customer requirements to Evariant’s offering and acts as a key connection between Evariant’s product development and organization’s customers.

3 Ways Value-Based Healthcare is Improving Patient Relationships

 

As the healthcare industry transitions toward this value-based care model, hospitals and health facilities are changing their approach to patient relationships. In this post, we’ll explore how value-based models improve patient relationships and transform the way consumers interact with their providers.

1. Improve Experiences Across the Care Journey

With more options and information available, consumers are taking an increasingly active role in their health and wellness. As a result, providers and organizations are expected to offer engaging experiences that go above and beyond the traditional Value = Care ÷ Cost equation.

To this end, hospitals and insurers are adopting a more patient-centric approach and creating points of contact beyond the clinical setting. The focus has shifted toward methods that identify a patient’s unique medical situation, treat existing health issues with the right solutions, maintain patient health, and prevent further complications.

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Jessica Friedeman

Jessica Friedeman

Jessica Friedeman serves Evariant as VP, Presales Engineer, providing technical and industry support in the sales process. Leveraging over a decade of experience in the healthcare industry, Jessica works closely with the sales team to mold customer requirements to Evariant’s offering and acts as a key connection between Evariant’s product development and organization’s customers.

Why Hospitals Need Smarter Patient Acquisition and Retention

This is the first post in a three-part series discussing healthcare landscape challenges and the need to engage patients across their healthcare journey (not just within the four walls of the system), extend patient lifetime value, and increase patient acquisition and retention.

patient and physician relationshipWhen we meet with healthcare leaders across the country, many convey a sense of urgency and need for transformation, digital and otherwise. Their organizations face new challenges and consumers have more purchasing power and higher expectations.

Single-tactic, traditional marketing efforts they’ve relied on for years no longer are enough; they need to develop more effective, targeted multi-channel campaigns to maximize budget and drive business results.

In order to successfully compete, they are adopting a data-driven approach to growth and gaining new visibility into marketing performance and provider network utilization.

Let’s evaluate what’s driving hospitals to innovate their growth strategies and what smarter patient acquisition and retention looks like:

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Jessica Friedeman

Jessica Friedeman

Jessica Friedeman serves Evariant as VP, Presales Engineer, providing technical and industry support in the sales process. Leveraging over a decade of experience in the healthcare industry, Jessica works closely with the sales team to mold customer requirements to Evariant’s offering and acts as a key connection between Evariant’s product development and organization’s customers.

Prevention Is Better Than a Cure: An In-Depth Look at Proactive Health

The current state of healthcare is, unfortunately, not that different than it was 30 years ago. Despite technology evolution and government intervention, many of the challenges healthcare faced in the 1990s – cost, quality, and access – remain today.

Proactive HealthcareIn the areas of quality and access, healthcare has moved the needle forward with advancements such as EMRs, CRMs, the Affordable Care Act, and telehealth. Reducing healthcare costs, however, is a hurdle that’s only getting more difficult to overcome.

In fact, National Health Expenditure grew 5.8 percent to $3.2 trillion in 2015, or $9,990 per person. These expenditures are expected to grow at an average rate of 5.8 percent per year between 2017 – 2025.

In order to combat the growing cost of services, healthcare providers need to take an active role in promoting proactive healthcare. With targeted communication and improved engagement, physicians can put patients back in the driver’s seat and help them take control of health outcomes.

Let’s take an in-depth look at how proactive health can help healthcare combat rising costs and improve patient engagement: More

Jessica Friedeman

Jessica Friedeman

Jessica Friedeman serves Evariant as VP, Presales Engineer, providing technical and industry support in the sales process. Leveraging over a decade of experience in the healthcare industry, Jessica works closely with the sales team to mold customer requirements to Evariant’s offering and acts as a key connection between Evariant’s product development and organization’s customers.

The CMO and CIO Relationship in Healthcare

In Chinese philosophy, the yin and yang represent two halves that together complete wholeness. These two forces, opposing yet complementary, give Patient engagementrise to each other as they work to achieve a sense of equilibrium.

In the healthcare industry, there is a similar tug-of-war between departments (finance, marketing, operations, IT, etc.) – the difference is these functions often remain at odds instead of working together.

For marketing and IT, the stakes are especially high. Becker’s Healthcare notes that 95% of healthcare executives plan to explore better ways of using and managing big data, but only 33% have changed their companies’ technology investments. More

Jessica Friedeman

Jessica Friedeman

Jessica Friedeman serves Evariant as VP, Presales Engineer, providing technical and industry support in the sales process. Leveraging over a decade of experience in the healthcare industry, Jessica works closely with the sales team to mold customer requirements to Evariant’s offering and acts as a key connection between Evariant’s product development and organization’s customers.