Engaging Physicians: 3 Keys to Long-Term Provider Relationships

As healthcare systems continue to adapt to changing market forces, the fight is on to attract, engage, and keep the best physicians in your network. Creating mutually beneficial relationships with physicians helps healthcare organizations compete in an evolving market and will help improve patient experiences.

Purposeful physician engagement is a critical part of developing long-term relationships – and these relationships are a key ingredient to healthcare organizations’ efforts to increase market share and drive revenue. In addition, health systems with engaged physicians often see lower costs, improved care, greater efficiency, and higher physician satisfaction and retention.

Enhanced engagement also helps grow in-network referrals by connecting physicians through a common sense of quality care delivery and organizational value. On the financial side of things, physician engagement helps reduce referral leakage and can build loyalty organically.

Let’s take a closer look at three keys to engaging physicians and building long-term relationships:

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Emilio Ruocco

Emilio Ruocco

Emilio serves as Evariant’s Vice President, Physician Practice leader, ensuring the company’s Healthcare CRM/PRM, business intelligence and marketing solutions deliver maximum strategic value to clients; with particular emphasis on physician market analytics and business development. Prior to joining Evariant, Emilio was Senior Director, Performance Technologies at The Advisory Board Company, helping hospitals yield operational insight from internal systems and external data sets. He has also served as Leader of Customer Value and Insights at Healthways, a leading disease management and wellness firm; and Vice President, Strategic Communications for pharmacy benefits management company CaremarkRx, prior to its merger with CVS Pharmacy. Before entering the healthcare sector, Emilio held business development, investor relations and communications leadership roles for several public companies in a variety of industries.
Emilio Ruocco

How to Leverage Physician Alignment for Service Line Growth

With the movement from fee-for-service models towards value-based care—which emphasize the whole patient and care quality, rather than siloed care and serving as many patients as possible—techniques for driving revenue must be updated to align with the evolving healthcare market. Targeted service line development and growth does still fit into these new value-based care initiatives.

When it comes to growing service lines, physicians remain a crucial part of the equation. Healthcare organizations need to be more strategic about their physician engagement and alignment in order to effectively grow service lines—and the organization—effectively in this new environment.

Regardless of where your organization sits on the journey to increased value-based care, proper physician alignment has benefits that resonate throughout your organization, such as:

  • Increased Inpatient Referrals: According to Gallup findings, engaged physicians gave their hospitals 51 percent more inpatient referrals than physicians who were not engaged. The result: an increase in initial revenue, as well as inpatient retention numbers. Keep in mind that in-network referrals are incredibly valuable—referrals from a single physician are estimated to bring in $1.56 million in net revenue.
  • Greater Productivity & Revenue: The Gallup study also found that engaged physicians were 26 percent more productive than non-engaged physicians. This added productivity can result in $460,000 more patient revenue per physician per year.
  • Improved Patient Experiences: Physician alignment is crucial for a smooth transition to value-based care models, which support patients taking a more active role in their own care. By aligning physicians with your value-based goals, you encourage them to better engage with patients throughout new types of care journeys that not only treat current health issues, but prioritize health maintenance to prevent further complications. Creating these types of patient-focused experiences is crucial to your organization’s financial performance; an Accenture study found that U.S. hospitals that deliver superior patient experiences generate 50 percent higher margins than average providers.

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Emilio Ruocco

Emilio Ruocco

Emilio serves as Evariant’s Vice President, Physician Practice leader, ensuring the company’s Healthcare CRM/PRM, business intelligence and marketing solutions deliver maximum strategic value to clients; with particular emphasis on physician market analytics and business development. Prior to joining Evariant, Emilio was Senior Director, Performance Technologies at The Advisory Board Company, helping hospitals yield operational insight from internal systems and external data sets. He has also served as Leader of Customer Value and Insights at Healthways, a leading disease management and wellness firm; and Vice President, Strategic Communications for pharmacy benefits management company CaremarkRx, prior to its merger with CVS Pharmacy. Before entering the healthcare sector, Emilio held business development, investor relations and communications leadership roles for several public companies in a variety of industries.
Emilio Ruocco

Best Practices for Physician Outreach Team Goal Setting

Physician outreach teams work toward many goals across an organization, but executives often struggle to determine the value of outreach efforts.

Proving physician relationship ROI is a challenge in the industry, but with the use of physician relationship management software, more healthcare organizations are moving toward an understanding of how physician outreach efforts contribute to organizational goals.

A PRM provides liaisons with the ability to show how their actions contribute to not only outreach campaign results, but the overarching objectives of the organization. Physician outreach teams must work with organizational leaders to determine the goals, needs, and metrics to be considered. The more these concepts and KPIs are socialized across the organization, the more likely the liaison team will be successful.

With effective goal-setting, liaisons can quantify their actions, set realistic expectations, and provide visibility for more collaborative work within the department and the organization. Let’s take a look at the best practices for physician outreach goal setting that can help optimize physician relationship management in your organization.
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Keri Braley

Keri Braley

Keri Braley serves as Evariant’s Manager of Customer Success, consulting with new and existing customers as they implement and optimize the use of the PRM and CRM tools into their business process. She has a special focus on physician relations and strategic business development. Prior to coming to Evariant, Keri spent 10 years as a physician liaison at two different hospital systems, doing strategic provider outreach and promotion, and producing analytics for the planning departments at each. Keri has also held roles in direct patient care, health disability benefit analysis, and healthcare alliance contracting.
Keri Braley

Extending Patient Lifetime Value with Physician Loyalty

This is the final post in a three-part series that discusses the changing healthcare landscape and the need for marketing teams to engage patients across their healthcare journey, extend patient lifetime value, and increase patient acquisition and retention. Read the first post on why it’s imperative for hospitals to approach patient acquisition and retention in more intelligent ways. And then check out the second post to learn how using personalized, multi-channel campaigns helps achieve the goal of patients for life.  

Achieving – and maintaining – physician loyalty is one of the most impactful efforts a health organization can undertake.

Doing it successfully has positive repercussions across the organization, from driving revenue and increasing patient engagement to extending patient lifetime value.

Statistics tell a compelling story: a 30-50 percent out-of-network loss translates to a $4-8 billion problem. And, a single provider’s referrals are estimated to bring in $1.56 million in net revenue – that’s what’s at stake with every physician relationship. Not only that, but when patients go to out-of-network providers, key encounters are lost to a competitor.

At health organizations across the country, physician liaison teams often lack the data and insights necessary to be a revenue-protecting and growth force. Without market data, the understanding of provider referral networks, and the right relationship management technology, liaison teams aren’t able to inform leadership, prioritize outreach efforts and align with organizational goals.

How can organizations develop valuable and lasting relationships with providers in their community? How can these relationships be leveraged to grow high-value service lines and achieve patients for life?

The first step is changing how healthcare enables physician liaison teams and prioritizes outreach efforts. A physician relationship management (PRM) solution is the foundation that supports health organizations in their efforts to optimize their provider network. Let’s take a deeper look:

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Emilio Ruocco

Emilio Ruocco

Emilio serves as Evariant’s Vice President, Physician Practice leader, ensuring the company’s Healthcare CRM/PRM, business intelligence and marketing solutions deliver maximum strategic value to clients; with particular emphasis on physician market analytics and business development. Prior to joining Evariant, Emilio was Senior Director, Performance Technologies at The Advisory Board Company, helping hospitals yield operational insight from internal systems and external data sets. He has also served as Leader of Customer Value and Insights at Healthways, a leading disease management and wellness firm; and Vice President, Strategic Communications for pharmacy benefits management company CaremarkRx, prior to its merger with CVS Pharmacy. Before entering the healthcare sector, Emilio held business development, investor relations and communications leadership roles for several public companies in a variety of industries.
Emilio Ruocco

4 Tips for Onboarding a Physician Relationship Management Solution

The role of the physician liaison team is often understated, despite the fact that physician referral practices can greatly impact a health system’s overall performance and profitability.

To optimize growth in a competitive market, health organizations and liaison teams must work to develop and nurture relationships with physicians and providers.

Until recently, healthcare organizations have been challenged to quantify and categorize liaison efforts, which is part of the reason their role has been underestimated. For this reason, many health systems have implemented a physician relationship management (PRM) solution. As a centralized hub for physician engagement efforts, a PRM solution allows organizations to leverage existing data sets, develop actionable insights, and gain visibility into their liaison team practices. More

Keri Braley

Keri Braley

Keri Braley serves as Evariant’s Manager of Customer Success, consulting with new and existing customers as they implement and optimize the use of the PRM and CRM tools into their business process. She has a special focus on physician relations and strategic business development. Prior to coming to Evariant, Keri spent 10 years as a physician liaison at two different hospital systems, doing strategic provider outreach and promotion, and producing analytics for the planning departments at each. Keri has also held roles in direct patient care, health disability benefit analysis, and healthcare alliance contracting.
Keri Braley