Patient bond fierce dec 9 webinar final
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The document presented by Brent Walker discusses strategies for maximizing revenue in healthcare by viewing patients as consumers. It emphasizes the importance of understanding healthcare consumer behavior through psychographic segmentation and utilizing digital tools to enhance patient engagement and operational efficiency. The insights provided demonstrate how tailored marketing and communication approaches can significantly improve patient activation and reduce costs in healthcare settings.
Patient bond fierce dec 9 webinar final
- 1. Maximize Revenue with Limited Resources: A Consumer Industry Approach
- 2. Your Presenter Brent Walker, SVP Marketing & Analytics, PatientBond • Leads marketing strategy and consumer insights • 20-year career at Procter & Gamble: • Brand Management • Led psychographic models for Healthcare division • Customer Marketing for top Retailers
- 3. The Traditional Approach in Healthcare
- 4. How the Healthcare Ecosystem Needs to See Patients A Patient is a Person First! Think Like a Healthcare Consumer “We are looking at healthcare choices through the eyes of the healthcare consumer, NOT how the system THINKS the consumer sees healthcare choices!”
- 7. Top Online Resources for Healthcare Provider and Service Information 0% 10% 20% 30% 40% 50% 60% 70% Non-healthcare review site (e.g., Yelp) Social media Third-party provider listing site (e.g., Zocdoc) Content website (e.g., WebMD) Insurance provider website General internet search Healthcare organization website Providers Consulted Consulted First 0% 10% 20% 30% 40% 50% 60% 70% Non-healthcare review site (e.g., Yelp) Social media Third-party provider listing site (e.g., Zocdoc) Content website (e.g., WebMD) Insurance provider website Healthcare organization website General internet search Services / Care Sites Consulted Consulted First 2021 Patient Access Journey Report
- 8. Consumers Desire Digital Capabilities from Providers 57% 70% 2016 2019 67% 77% 2016 2019 53% 69% 2016 2019 39% 53% 2016 2019 Receive reminders, via email or text message, when it is time for preventative or follow-up care Request prescription refills electronically Communicate with your provider through secure email Use remote or telemonitoring devices to monitor and record your own health indicators Accenture 2019 Digital Health Consumer Survey
- 9. Cost Savings Through Digital/Automation -70% Ø Medical answering service: average $0.79 - $1.39 per call Ø AJMC: Nurse follow-up $2.93 on average; $5.50 if time spent determining patient condition Ø Interactive Voice Response (IVR) can save in excess of 70% on payment processing administrative costs
- 10. Condition Specific Messaging Post Discharge Day 1 Follow-Up Day 2 Follow-Up Survey Response is No Response is Yes • 82,045 text messages/SMS sent • 17.4% completed the survey • Among survey completes, 42% qualified for a return visit Estimated $748,965 in additional revenue ($125/visit)
- 11. After-Visit Care Messaging Post Discharge Day 1 P Priority Care < 10:11 Follow-Up Day 2 As a follow-up to your visit to Priority Care on 12.9.21, we wanted to ensure you are feeling better. Please reply OK if you are doing well or call us at 123.456.7890 if you would like to talk to us. Reply STOP to opt out. Today 7:50am OK Glad to hear all is well. We look forward to seeing you at your next visit. • 376,660 text messages/SMS sent • 24% responded “OK” • 4.9% Opted Out • $564,990 in operational savings (estimating $1.50/call follow-up)
- 12. Agency Perspective: Level of Client Investment -1 -0.8 -0.6 -0.4 -0.2 0 0.2 0.4 0.6 0.8 1 Web development Web design Web hosting General website management Mobile app development Web accessibility Project management Content development Content marketing Search engine optimation (SEO) Email or marketing automation CRM Online reputation management (including ratings…) Social media and community management User research/testing Digital advertising (include paid, social and search) Local search or business listing management Analytics Digital strategy Video production User experience Personalization Insufficient investment Over-investment Adequate investment HEALTHCARE DIGITAL MARKETING TRENDS SURVEY 2021
- 13. Health Content 0 0.5 1 1.5 2 2.5 3 Health Content Personalization Capability Score Importance Score HEALTHCARE DIGITAL MARKETING TRENDS SURVEY 2021
- 14. Health Content 0 0.5 1 1.5 2 2.5 3 Health Content Personalization Capability Score Importance Score HEALTHCARE DIGITAL MARKETING TRENDS SURVEY 2021
- 15. Patient Engagement & Activation Challenges PATIENT ENGAGEMENT TECHNOLOGY SIMPLY ISN’T VERY ENGAGING S I L O ’ E D S Y S T E M S Engagement efforts are not integrated into or interfaced with existing workflows, digital and physical. The result? Dead-end engagement efforts that don’t support the strategy G E N E R I C C O N T E N T Messages are batch processed and non-specific. The result? Lack of activation of patients/members/consumers. “Digital Health is not a computer science or an engineering science. It is a … behavioral science. Creating the tech isn’t the hard part. The hard part is using the tech to change patient behavior”. Dr. Brennan Spiegel Cedars-Sinai Medical Center Fortune – April, 2018 I N F L E X I B L E D E L I V E R Y Messages are sent by whichever approach the sender thinks is appropriate. The result? Consumers may not receive or read critical communications. M E S S A G E FAT I G U E Everyone thinks their messages are the most important. The result? Overwhelming volumes of messages that end up being ignored.
- 16. Start by Defining Your Target Audience STRATEGIC TARGET All customers who find your brand’s benefits and equity relevant and meaningful and will drive long term business goals PRIME PROSPECT(S) Customer group(s) that represent the greatest near- term growth (or cost savings) potential • A Prime Prospect is a subset of the Strategic Target • Primary focus for marketing plans and spending • While Strategic Targets tend to be enduring, Prime Prospects are renewed annually • Follows the Pareto Rule
- 17. The Pareto Rule Holds Across Industries 0.5% of customers comprise 25% of car rental sales 10% of a bank’s retail customers produce about 90% of retail profits Source: www.it-cortex.com Pampers targets only 4% of diaper buyers to generate $10 billion in revenue
- 18. Deep Insights Attitudes • Values • Beliefs • Personality • Motivations Intermediate Insights Habits & Practices • Product & Service Utilization • Claims Superficial Insights Age • Race • Gender • Income • Health Condition Demographics and behavioral data are important, but psychographics uncover the “WHY” Healthcare Consumer Segmentation
- 19. Demographics Are Not Enough
- 20. Psychographics A Patient is a Person First! • Attitudes • Values • Beliefs • Lifestyles • Priorities • Personalities MOTIVATIONS & COMMUNICATIONS PREFERENCES
- 21. Psychographics Used Across Industries Psychographics have been used extensively in consumer industries (e.g., retail, insurance, automotive) • GEICO's share expanded by 0.9 percentage point as its written premiums surged by 16.1% (Feb 26, 2019) • Porsche achieved 35% sales increase of 911 in first 2 months of new psychographics-informed campaign PatientBond’s psychographic research, led by ex-P&G Healthcare executives, provides a comprehensive understanding of healthcare consumers Psychographics uncover how to motivate, influence and engage the healthcare consumer to take action!
- 22. Psychographics Get Beyond “One Size Fits All” Patient Activation Who is the patient/member/consumer? Demographics, socioeconomics, health condition What are their behaviors? Utilization, claims data Why are they doing what they do? Psychographics: Attitudes, Values, Motivations How do we influence their actions? Communication & Channel preferences WHY HOW WHO WHAT
- 23. SELF ACHIEVERS 19% Motivated by goals, measures, progress. Likes to have a plan. Respects the physician. PRIORITY JUGGLERS 18% Puts personal wellbeing behind their obligations to family and work. WILLFUL ENDURERS 31% Lives in the “here and now” and wants immediate gratification. Convenience, ease and simplicity is key. DIRECTION TAKERS 15% Needs clear and concise guidance from a credentialed source. BALANCE SEEKERS 17% Wants options and choices in their health journey. Likes to discover new and interesting solutions. Healthcare Psychographic Segmentation Model Proactive & Engaged Reactive or Disengaged
- 24. Willful Endurers account for 2/3 of all people who visit an Emergency Room at least once per year Self Achievers are 3X – 7X more likely than the other segments to visit an ER at least twice per year There is a significant opportunity to convert these patients to Primary Care and other Service Lines Frequency of Emergency Room Visits
- 25. R² = 0.3331 0 5 10 15 20 25 30 35 40 20 25 30 35 40 45 50 55 60 65 70 FY17 Visits Thousands Total Willful Endurers Thousands Market Population of Willful Endurers vs. Site Volume (r = 0.58, r2 = 0.33) Willful Endurers and Site Success A national health system looked at the variables that drove success or underperformance across its network of urgent care clinics
- 26. Each Segment Has a Different Engagement Strategy Self Achiever: Achieve the goal; Improvement Balance Seeker: Choices, Options, Knowledge, Context Priority Juggler: How family/others benefit; Commitment Direction Taker: Expert, credentialed physician says so Willful Endurer: Here & Now, Live for today, First step, Easy
- 27. Channel Mix & Frequency Vary by Segment and Topic HEALTH FINANCIAL MARKETING B a l a n c e S e e k e r Every 2 months Every 2 weeks Every month W i l l f u l E n d u r e r Every 3 weeks Every 2 weeks Every 2 weeks P r i o r i t y J u g g l e r Every 2 months Every month Every 3 weeks S e l f A c h i e v e r Every month Every 2 weeks Every 3 weeks D i r e c t i o n Ta k e r Every month Every 2 weeks Every month **Illustration ONLY: Not Actual Data** P s y c o g r a p h i c s s e g m e n t s
- 28. Identifying the Psychographic Segments • 12 question survey = 91.1% confidence • 3 question progressive survey starts at 60% confidence • Statistical projection through National Data Compiler = 3X chance • Append • Intelligent Default Statistical Projection Options:
- 29. Operationalizing Psychographic Engagement Examples & Case Studies
- 30. Marketing an Urgent Care Clinic: Digital Banner Ads Call Now! Local STD Testing The Risk Is Not Knowing What Are You Waiting For? Get Tested! ü Local STD Testing ü Insurance Covers Tests ü 100% Confidential ü 5 NYC Area Locations (123) 456-7890 Better Safe Than Sorry!
- 32. 53% 21% 11% 10% 6% 0% 10% 20% 30% 40% 50% 60% 70% Willful Endurers Self Achievers Balance Seekers Direction Takers Priority Jugglers Visit an Urgent Care Clinic At Least Once Per Year Visit Frequency By Segment
- 33. Visit Frequency By Segment 70% 20% 6% 3% 1% 0% 10% 20% 30% 40% 50% 60% 70% Willful Endurers Self Achievers Balance Seekers Direction Takers Priority Jugglers Visit an Urgent Care Clinic Once Per Quarter
- 34. Willful Endurers 38% Balance Seekers 20% Self Achievers 20% Priority Jugglers 13% Direction Takers 9% Psychographic Segment Distribution Within 5 Mile Radius 742,982 401,432 385,620 266,690 168,968 Willful Endurers Balance Seekers Self Achievers Priority Jugglers Direction Takers Population Size by Psychographic Segment Within 5 Mile Radius Brooklyn, NY
- 35. Brooklyn, NY
- 37. INSIGHTS ACCELERATOR™ – CODEBOOK WILLFUL ENDURER
- 38. Willful Endurer is the Prime Prospect (123) 456-7890 Motivations: • Immediate benefit • No waiting • Easy, no hassles • On their terms • Loss avoidance • Peace of mind • Low/No cost Local STD Testing (123) 456-7890 or visit our website www.pcare.com
- 39. Results 0% 2% 4% 6% 8% 10% 12% 14% 16% Week of March 5 Week of March 12 Week of March 19 Week of March 26 Week of April 2 Click Through Rate
- 40. Psychographically Enhanced Digital Engagement Marketing Clinical Financial
- 41. Psychographically Enhanced Digital Engagement Julia Shi, Yale News Opt-In Consent Patient Agrees to Participate in Program Motivational Messaging 8-10 segment-specific messages over 30-day period via combination of text, IVR or email Customized Dashboard Dashboard enables staff to monitor progress Embedded Actions Patient responds to questions Segmentation Survey Patient Segmented via 12-Question Survey
- 42. Hospital Discharge: CHF 30-Day Communications Example Opt-In & Patient Survey ENROLL DAY 1 Discharge Instructions & Welcome Tracking your Recovery Importance of Medication Adherence DAY 2 DAY 3 DAY 4 Follow-Up Appointment DAY 5 Monitoring Weight DAY 7 When to Seek Medical Attention DAY 10 Follow-Up Appointment Your Recovery Zone DAY 15 DAY 20 Activity, Smoking Drinking tips Medication Refill DAY 25 DAY 30 End & Assessment Email Text/SMS IVR @
- 43. CHF Hospital A Spine Hospital B CHF Hospital C COPD Hospital C Pre-PatientBond Readmission Rate 18% 7% 18% 22% Post-PatientBond Readmissions Rate 2.4% (n=315) 1.45% (n=87) 9% (n=108) 4% (n=100) 3 Month Savings $520,000 $120,000 $90,000 $180,000 Engagement Rate Across 13 Communications 65% 87% 61% 36% Readmissions Program Results CHF Hospital D 21% 11.8% $500,000/QTR 12 Months 55% 12 Months
- 44. Results Across Categories MARKETING • 3x Increase in PCP Appts – Post ER Visit • Physician/Patient Matching – 72% of appointments • 7x Increase In Telehealth registrations • 25% - 200% Increase in banner ad click-through • 27% increase in Google Reviews HEALTH FINANCIAL • 85% Reduction in CHF Readmissions • 75% Reduction in COPD Readmissions • Diabetes Care Gaps - 50% Engagement and Closures • AFIB Education – 70% Sustained Engagement Rate • 57% Increase in Colon Cancer home screening kits returned • 4x Increase of Payments within 10 days • 25x Increase of Payments in < 48 Hours • 50% Reduction Statement Volume • 60.9% Increase in Patient Payments • $48M in Annual Patient Collections
- 45. A Complete Patient Engagement Command Center PatientBond Technology Stack Virtual Visits Quick Consults HIPAA Compliant Online Scheduling Digital Intake Digital Payments Remote Monitoring Branded App Patient Portal Email SMS 2-Way SMS IVR On-Demand Messaging
- 46. Psychographics + Digital Engagement Technology = Upside impact to your bottom line Robust Programs • Automated Encounter follow up • Automated Lab Result messaging • Condition-Specific follow up for 70+ Urgent Care frequently seen conditions • Condition-Specific post-visit clinical status check • Intelligent Response with automated repeat visit push • Push to online scheduling system, virtual visits & click-to-talk scheduling • Clinical Care post-visit messaging for non- specific conditions (OK or CALL) • Online Scheduling & Digital Intake • Appointment Reminders • Rx Notifications • Secure Video & Messaging Consults • Remote Monitoring • Personalized Care Pathways (chronic conditions) Care Automation • Insights Accelerator™ • Segmented Marketing Campaigns • Database append & segment projections • Progressive database classification • Psychographic codebooks • Segmented DMA mapping (television) • Surveys & Social Media push (NPS, Five-Star, SMS, NPS + Drivers) • COVID testing sites & availability messaging • Seasonal revenue driver communications • Gaps in Care messaging • Health Risk assessments • Patient-Provider match • Service line messaging • Wellness program enrollment & retention • Patient Portal promotions • Segmented content copywriting • Psychographic consulting Marketing • Early Out Messaging • Payment Reminders (1, 30, 60, 90, 120+) • Claim submission notifications • Card-on-File Messages • Financial Agreement/Insurance denial messaging • Digital Statements • Pre-Auth/Co-Pay notifications • Explanation of Benefits messaging • SMS, Email, IVR reminders with age of invoice specific messaging • Bad Debt & suppressed statement messaging • Online Payments • Link to client online bill payment portal(s) • Click-to-call (texts, emails) and/or real-time call transfer (phone calls) to client billing department • File collation, channel scrub, duplicate removal Financial *Content & delivery timelines are fully customizable
- 47. Q & A
- 48. THANK YOU Brent Walker, SVP Marketing & Analytics [email protected] (630) 965-6322 www.patientbond.com