ABSTRACT
A healthcare organization's "strategic pie" has four pieces: physician retention, brand, patient retention, and patient acquisition. When allocating strategic effort among these pieces of the pie, leading hospitals are following the lead of other industries, focusing on concepts such as churn rate, downstream value, strategic halo, promotable products, and the relative power of different metrics. A risk-reward metric offers an important means of assessing factors that would influence how much you would be willing to spend for specific purposes, such as acquiring new patients.
Subject(s)
Economic Competition/organization & administration , Economics, Hospital/organization & administration , Patient Satisfaction , Economic Competition/economics , United StatesABSTRACT
The following questions will help you evaluate your organization's marketing willingness: What is your organization's risk tolerance? Is your organization best suited for acquisition or for retention? Does your organization know the value of a patient? Does your organization have the right marketing infrastructure?
Subject(s)
Financial Management, Hospital , Hospital Administrators , Marketing of Health Services , Decision Making, Organizational , Evaluation Studies as Topic , Guidelines as Topic , United StatesABSTRACT
By transforming the hospital experience into something truly positive, healthcare organizations can forge bonds with their patients-and create new revenue streams.
Subject(s)
Economics, Hospital , Patient Satisfaction , Hospital Administration , United StatesSubject(s)
Centralized Hospital Services , Marketing of Health Services/organization & administration , Models, Organizational , Multi-Institutional Systems/organization & administration , Benchmarking , Humans , Illinois , Missouri , Multi-Institutional Systems/economics , Organizational Case StudiesSubject(s)
Income , Cost Control , Health Services/economics , Humans , Mass Screening , Risk Assessment , United StatesABSTRACT
How does customer loyalty grow? Through good customer experiences. Yet some organizations seem to genuinely fail to understand that they can keep or lose a customer in the proverbial blink of an eye. And in this era of increasing customer demands across all industries, it's important that healthcare financial managers understand the correlation between customer loyalty and customer experience.
