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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Stay Ahead of the Competition: 5 Healthcare Marketing Trends to Know

Healthcare marketing trends originate from a variety of sources — marketing in other industries, societal changes, and overarching movements in the healthcare industry, just to name a few. Though constantly evolving, these influences represent opportunities for healthcare marketers to connect with customers in new ways.

Two of the biggest influences on healthcare marketing today are the rise of consumerism and the adoption of new technologies. In the wake of rising healthcare costs, consumers want to get the most value from their providers. Faced with a myriad of care options, this means people are spending more time researching and putting thought into their care decisions.

Knowing this, health systems need to find new ways to reach and engage consumers who are using the Internet and other digital channels to weigh care options. Modern healthcare marketers can take advantage of technology solutions, such as healthcare CRM, coupled with mutli-channel marketing tactics to deploy smarter patient acquisition and retention strategies.

The shifts in consumer choice and technology use are the driving forces behind trends sweeping through the healthcare marketing field today. In this post, we’ll break down five popular healthcare marketing trends and how businesses can take advantage of them.

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The Future of Population Health Management: 5 Trends to Watch

Population health management is a strategy aimed at improving the health of segmented populations and reducing care costs. PHM requires in-depth data analyses to identify trends across a targeted group and effective outreach tactics that leverage these populations with optimal health information at the right time, in order to improve care outcomes.

Many healthcare organizations aim to maintain the upward trajectory of population health initiatives by furthering current programs and reaching new patient populations. In a report detailing healthcare executives’ goals for 2018, 95 percent ranked population health between “moderately” and “critically” important for the future success of their organization.

In this post, we’ll dive into five population health management trends and discuss how healthcare organizations can leverage them.

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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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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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