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.
To support this transition, healthcare organizations are adopting technologies and approaches that provide personalized experiences for consumers across the patient engagement journey. Consumers want to know that their individual health needs and goals are understood, and more importantly, that the providers and organizations care.
From creating apps designed to make it easier to schedule appointments and view health information to deploying valuable and personalized marketing campaigns—providers are looking beyond simply treating health issues in order to differentiate from the competition and provide consumers with additional value.
Healthcare organizations must create personalized experiences outside of the clinical setting that are valuable and further patients’ overall health and wellness. Creating patient-centric experiences that strengthen the relationship between a provider and a patient is a key component to a value-based model.
2. Add Value Outside of the Clinical Experience
Healthcare costs are climbing without corresponding improvements in the quality of care provided. Today, value-based care aims to address this issue head-on, and with U.S healthcare spending almost twice the cost of any other developed nation, it’s no wonder why.
Consumers expect that healthcare organizations will deliver value that reflects the amount they spend on services. As a result, organizations are looking for additional ways to improve the patient experience beyond offering quality treatments and procedures throughout the care journey. Patient experience is a now a term that applies as much to the marketing department as it does physicians and nurses.
Through personalized interactions, pricing transparency, efficient customer service, and targeted multi-channel marketing campaigns, health organizations are becoming a partner in health and wellness in between doctor’s appointments. New tools and healthcare alternatives are being embraced, such as telemedicine, physician reviews, and price comparison tools, that add convenience and transparency to the overall healthcare experience.
Enhancing patient-provider relationships in these ways adds value for consumers, facilitates patient retention, and differentiates from competitors.
3. Understand Patients Better With Data Integration
In the past, the majority of data on patients was trapped within individual, siloed locations. There wasn’t much motivation to share patient data across providers, because as we mentioned earlier, the model focused incentives on individual treatments. With long-term health as a fundamental motivator in the value-based healthcare model, providers have more incentive to pool data on patient health to develop more proactive, long-term wellness solutions.
Beyond the clinical setting, technology like a healthcare CRM platform enables patient data to be collected organized, and analyzed from multiple sources, including demographics, psychographics, social media activity, behavioral patterns, clinical history, and call center interactions. This data allows organizations to create robust, 360-degree customer profiles, which can be used to deliver personalized engagement across multiple communication channels. By utilizing data from a wide variety of sources, healthcare organizations can now make informed marketing decisions that coincide with the consumer’s long-term health goals and the organization’s business goals.
As the healthcare landscape moves toward value-based care, healthcare providers are in a unique position. The shifting landscape is putting patients in the driver’s seat and providers need to work smarter to keep patients for life. Those that embrace the value-based care shift can take advantage of new opportunities to build relationships that increase revenue and retention, while keeping customer satisfaction high.