Gary Druckenmiller, Jr., Vice President, Marketing Practice Lead at Evariant, recently wrote an article for Health Data Management about the necessity of digital CRM systems in today’s healthcare system.
In the article, Druckesnmiller points to a recent survey by HCAHPS. The survey, taken directly by patients, found that the majority of patients are highly dissatisfied with their personal healthcare system. In 2014, only 4.5% of hospitals received excellent ratings.
A study by Deloitte found that between 2008 and 2014, hospitals with excellent ratings on the HCAHPS satisfaction survey earned an average net profit margin of 4.7%. Meanwhile, hospitals with low ratings only earned 1.8%. These statistics show that patient experience and profit margins are directly correlated.
The recent finding has healthcare systems scrambling to find ways to improve patient satisfaction. But marketers already know what the solution is: there must be a system put in place that allows hospitals and other healthcare providers to engage with patients on a personal level. These systems are called customer relationship management (CRM) solutions, and they’ve already proven successful in other industries such as finance and retail.
CRM solutions are focused on the user, and numerous studies have shown that patients want a more personalized approach to healthcare. This includes easy access to medical records, appointment reminders, follow-up check-ins, and 24/7 healthcare professionals who are available to answer any questions or concerns. These requests aren’t unreasonable; in fact, in today’s digital age, they’re easily obtainable.
More and more people are getting used to information being available at the click of a button, and the speed alone is part of what makes digital communication so attractive. In many ways, the healthcare system is still stuck in traditional marketing approaches. Gone are the days of billboards and postal mail and in are the days of email, apps, and account information that can be accessed online.
The sooner that hospitals and healthcare providers can incorporate these CRM digital solutions, the sooner their patient satisfaction ratings will go up, and the sooner profit margins will follow.
To read Druckenmiller’s full article about how digital system can enhance patient outreach, click here.