Leveraging Health Data Insights to Unlock Opportunities for Growth

In today’s competitive healthcare landscape, health systems are searching for new ways to attract and retain patients. Currently, 81 percent of patients are unsatisfied with their healthcare experience – which may explain why almost half of US adults between the ages of 23 and 53 are seeking a new healthcare provider. 

I’ll pause to let that sink in.

Almost half of US adults between the ages of 23 and 53 (aka predominantly commercially insured patients) are seeking a new healthcare provider.

As a result, healthcare systems must focus on creating campaigns that satisfy existing patients while attracting new patients into the practice. This requires in-depth, targeted data to attain a new level of business intelligence.

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Jessica Friedeman

Jessica Friedeman

Jessica Friedeman serves Evariant as Vice President, Product Marketing. Leveraging over a decade of experience in the healthcare industry, Jessica provides product, strategy and industry support so as to deliver solutions that maximize client’s marketing and organizational strategy. Jessica additionally served Evariant as Vice President, Solutions Engineering, lending technical support to the sales process. Prior to Evariant, she served as Director, Solutions Support at Truven Health Analytics (now IBM Watson Health), where she was responsible for ensuring the successful positioning and growth of the Marketing & Planning business lines.

Using Healthcare Data to Identify Opportunities in Your Market

In today’s healthcare environment, it’s challenging for organizations to pinpoint exactly where ripe opportunities exist. This stems from a lack of access to valuable contributing data inputs and/or the ability to conduct analysis on – or across – multiple data sets. 

At its crux, identifying healthcare opportunities should be a result of discovering underlying needs within a customer or physician segment, service line, and/or geographical area.

However, many healthcare organizations simply don’t have the necessary analytical power to uncover these valuable insights, partially due to siloed consumer, patient, and physician data.

As a result, it’s important to leverage a tool that can store, organize, and analyze large amounts of data from all corners of the organization. In addition to this, tools that guide users to the most important insights achieve faster time to value – creating high-value opportunities.

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Jessica Friedeman

Jessica Friedeman

Jessica Friedeman serves Evariant as Vice President, Product Marketing. Leveraging over a decade of experience in the healthcare industry, Jessica provides product, strategy and industry support so as to deliver solutions that maximize client’s marketing and organizational strategy. Jessica additionally served Evariant as Vice President, Solutions Engineering, lending technical support to the sales process. Prior to Evariant, she served as Director, Solutions Support at Truven Health Analytics (now IBM Watson Health), where she was responsible for ensuring the successful positioning and growth of the Marketing & Planning business lines.

Volume to Value-Based Healthcare: How to Ease the Transition

physician promoting value-based healthcare

Historically, 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 shared risk models, hospitals have begun to transition to a value-based model of care.

What is a Value-Based Model of Care?

Value-based care is a financial model meant to improve the quality of care and care outcomes for all patients who enter the health system – while simultaneously reducing healthcare costs over time. In other words, health systems must provide the highest quality of care at the lowest possible cost to the patient, minimizing repeat visits and unnecessary procedures. In a value-based model of care, ongoing wellness and preventative treatment are prioritized. 

In a fee-for-service model, or volume-based care, patient treatment is often siloed and doesn’t prioritize care coordination. Value-based care shifts the health system’s focus towards a more holistic view of patient health, connecting departments to improve overall well-being. 

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

Volume to Value-Based Healthcare: Best Practices for Marketers

Healthcare marketing teams play an important role in helping organizations communicate with patients to optimize a value-based model of care. Marketing teams must be equipped with the right tools, however, in order to reach consumers with relevant content that will improve both engagement and overall experience.  Let’s look at three specific tactics:

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Jessica Friedeman

Jessica Friedeman

Jessica Friedeman serves Evariant as Vice President, Product Marketing. Leveraging over a decade of experience in the healthcare industry, Jessica provides product, strategy and industry support so as to deliver solutions that maximize client’s marketing and organizational strategy. Jessica additionally served Evariant as Vice President, Solutions Engineering, lending technical support to the sales process. Prior to Evariant, she served as Director, Solutions Support at Truven Health Analytics (now IBM Watson Health), where she was responsible for ensuring the successful positioning and growth of the Marketing & Planning business lines.

3 Ways to Improve Patient Retention Through Post-Discharge Calling

A surprising number of patients –  1 in 5, in fact – experience an adverse post-discharge event such as infections or procedural complications within 30 days of release. This adds a significant cost to the United States healthcare system, contributing an extra $15 to $20 billion annually. What’s more, 30 percent of these readmissions are preventable, and nearly a quarter are ameliorable.

It’s no secret that hospitals need to address the post-discharge problem; in November 2015, CMS proposed a ruling that requires hospitals to establish post-discharge follow-up programs. Furthermore, post-discharge calls have started to become an essential element of payer reimbursements – some insurers require patient answers to post-discharge survey questions – which makes them absolutely crucial for health systems’ financial standings.

But looking at post-discharge calling solely as a requirement for earning payer reimbursements is a mistake; checking in with patients after clinical appointments provides the opportunity to ensure patients adhere to their ongoing care instructions, schedule future appointments, recommend referrals, and more. All of these initiatives enhance the patient experience and create patients for life. In fact, Accenture found that hospitals that provide superior patient experiences achieve up to 50 percent higher margins.

A patient’s journey shouldn’t end when he or she is released from the hospital; communication post-discharge increases long-term loyalty. By updating call center processes, you can optimize post-discharge calling to focus on improving patient retention and regain the estimated $8 billion in lost revenue.

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Jessica Friedeman

Jessica Friedeman

Jessica Friedeman serves Evariant as Vice President, Product Marketing. Leveraging over a decade of experience in the healthcare industry, Jessica provides product, strategy and industry support so as to deliver solutions that maximize client’s marketing and organizational strategy. Jessica additionally served Evariant as Vice President, Solutions Engineering, lending technical support to the sales process. Prior to Evariant, she served as Director, Solutions Support at Truven Health Analytics (now IBM Watson Health), where she was responsible for ensuring the successful positioning and growth of the Marketing & Planning business lines.

5 Strategies to Drive Patient Retention in the Digital Age

Across industries, increasing customer retention rates by 5 percent increases profits anywhere between 25 to 95 percent. This may frame patient retention as an obvious way to increase profits, but in the current healthcare market, it’s much easier said than done.

Why? Patients have become discerning customers – they have plenty of healthcare options, and aren’t hesitant to shop around and compare healthcare networks on patient care, price, and overall experience. Furthermore, Millennial customers, who already outnumber the Baby Boomer generation, are more likely to proactively research cost information, medication coverage, and doctor quality ratings.

With the ever-changing healthcare landscape, marketers must put a focus on patient retention in order to achieve significant growth for your health system. Attracting new patients is beneficial, but keeping them within your healthcare network has the potential for greater ROI.

Let’s take a closer look at five strategies to drive patient retention in the digital age:

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Jessica Friedeman

Jessica Friedeman

Jessica Friedeman serves Evariant as Vice President, Product Marketing. Leveraging over a decade of experience in the healthcare industry, Jessica provides product, strategy and industry support so as to deliver solutions that maximize client’s marketing and organizational strategy. Jessica additionally served Evariant as Vice President, Solutions Engineering, lending technical support to the sales process. Prior to Evariant, she served as Director, Solutions Support at Truven Health Analytics (now IBM Watson Health), where she was responsible for ensuring the successful positioning and growth of the Marketing & Planning business lines.