Health Technology, Digital Healthcare
Article | September 7, 2023
The medical field has undergone a significant amount of change during the past few years, and it’s clear that healthcare consumers are seeking digital experiences. Meeting this need by providing virtual care options can not only remove barriers to quality healthcare but also reduce stress on the healthcare system.
At the same time, how can medical providers offer digital care options, and how can doing so drive revenue growth?
Allow online scheduling to increase appointment volume
If you have ever spent hours on hold, you know how frustrating it can be. In the same way, if patients are left on hold for too long, they will most likely disconnect before a member of the team can assist them. This is why it’s crucial to allow patients to schedule their care online. Patients expect to attend medical appointments at a time that is convenient for them, which means they want to schedule those appointments at a time that is convenient for them as well. They do not want to spend time waiting on hold, only for someone on the other end of the phone to offer them appointments that do not work for them.
The solution would be for medical providers to invest in a digital phone solution that can maintain a virtual waiting room. These virtual waiting rooms allow patients to maintain their place in line, such as receiving a callback, making it easier for them to schedule appointments. Of course, an online booking option can be helpful as well. Most patients want to schedule their appointments when they are not at work, and an online booking option allows them to do so regardless of their business hours.
Don’t forget to consider the type of booking software you use as well. If you select booking software that will automatically sync with your scheduling system in the office, you can take a significant amount of stress off your front office staff.
Digital communication options are crucial
Tebra’s recent Patient Perspectives report indicates that the majority of patients (55%) want to be able to reach their medical providers quickly to get answers to their questions, even when they do not have an appointment scheduled. If you have two-way messaging software, you can streamline the flow between your patients and providers, which may reduce the number of appointments your patients need to book.
For example, patients can ask for prescription refills, run specific numbers by their medical providers, and get quick answers to questions about symptoms they might be experiencing. Not only does this support patients and nurture their loyalty, but it also alleviates unnecessary appointments from inundating providers’ schedules.
Take advantage of telehealth for additional revenue
Before the start of the COVID-19 pandemic, very few patients took advantage of telehealth. Now, nearly a quarter (about 25%) of all patients indicate that they have used telehealth during the past year, and many patients prefer this option.
The reality is that telehealth can remove barriers that would otherwise make it hard for patients to access care. They don't have to worry about taking time off work, arranging for child care, or driving a long distance to meet with a doctor.
While telehealth will never fully replace in-person visits, it can be an excellent option for cold and flu symptoms, mental health issues, and routine check-ins. By offering telehealth to your patients, you can make it much easier for them to access the care they need.
Modernize your revenue channels by taking advantage of digital healthcare
It’s obvious that the medical world is changing quickly, and digital aspects of care are here to stay. To ensure your practice can adequately meet your patients’ needs, take full advantage of everything in this article and ensure you have reliable digital care options. You can develop multiple revenue streams for your medical practice or system while maintaining high patient satisfaction rates and without adding to your workload.
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Healthtech Security
Article | November 29, 2023
The criteria of patient satisfaction have changed dramatically. The priority of your healthcare business is to provide patients the right treatment. But nowadays, you cannot excel in your service and win the hearts of the patients just by providing the right treatment. You will also have to focus on delivering a great patient experience. Thus, a comprehensive healthcare marketing strategy should be designed accordingly.
In this digital age, along with their healthcare requirements, people are already overwhelmed with all the necessary information they need regarding their work and life-related issues. This has turned them into customers, rather than just being patients. And has led them to want and expect more. According to a study done by McKinsey, people expect from healthcare companies the same way they expect from other non-healthcare companies. Your patients now expect:
• Your deliverance on their expectations
• Great customer service
• Great value
• To make their life easier with the service they get from you
They look for whether your healthcare services provide these benefits through online resources. A Kantar Health Report says that around 60% of millennials depend upon online information as the best resource for healthcare information. They also consider word-of-mouth referrals trustful. This makes it vital for you to put in place the right digital healthcare marketing strategies. It is necessary to avoid your prospects going to your competitors whenever they search for effective medical services online.
The need for a robust Healthcare Marketing Strategy
Creating an effective healthcare marketing strategy is part of the inbound marketing process. The strategy can include and utilize all the resources to bring in opportunities. The resources also can confront the threats that come your way to hinder your healthcare business. The resources can be in any form of original content such as articles, blog posts, podcasts, interviews on medical topics, informational videos, e-books, case studies, press releases, white papers, etc. These resources deal with threats and opportunities that are concerned with persuading prospects to come to you.
Healthcare marketing strategy is a vision statement. It lays down the healthcare marketing plan in detail for some time. It should include objectives and plans for exceeding the current performance of your particular healthcare business. It should talk about competition analysis, target marketing, budgets, marketing tactics, and SWOT analysis, which are essential elements of an effective healthcare marketing strategy. Having the right healthcare marketing strategy in place will help you increase patient inflow and lower your marketing budget, which increases your return on investment (ROI).
Benefits of Having an Effective Healthcare Marketing Strategy
The right healthcare marketing strategy focuses on two main things; bringing in more patients to your hospital or clinic and maximizing your ROI. ROI can be maximized by minimizing expenses on both inbound and outbound marketing strategies. It is called ROI based marketing plan or strategy.
There are many benefits to having an effective healthcare marketing strategy in place for your medical practices. They include anticipating and assessing threats and opportunities, prepare to make a road map to counter the threats in time effectively, and find out creative ways to enhance your outcome. Below are some of the other benefits of having a healthcare marketing strategy:
Goals and Objectives
A sound healthcare marketing strategy, as discussed earlier, helps you to understand what you are going to achieve in a scheduled time frame. This keeps you focused on your goals without getting diverted. Moreover, it provides you a clear picture of your business's growth and makes you aware of how far you can go with your business in the target market.
Operating Budgets
Healthcare marketing strategy helps you create a detailed operation budget in advance for your business. By knowing your expected future costs, expenses, and forecasted income over the year, you can make better plans for all the expected and unexpected challenges of your business.
Service Line Decisions
When you compare your result with your expected results, you will understand where it worked well and the areas you need to improve. By knowing the areas in which you failed, you can improve them and yield better results on the next run by improving your line of services.
Risk Management
In business, risk management includes forecasting and evaluating the financial risks and identifying solutions to minimize or eliminate their impact. A clear healthcare marketing strategy in place allows you to manage these aspects of your healthcare business efficiently.
Capital Planning
A marketing strategy provides you a clear idea of how to process your budgeting resources for your organization's future. It is possible with both short-term and long-term plans.
Developing an effective healthcare marketing strategy
Creating goals and defining objectives or benefits that you intend to achieve is the first step to the creation of a healthcare brand strategy. Once all these things are set, you may assess all the required and available resources. Then devise a final strategy on when and how to fulfill these goals.
Healthcare digital marketing is unique as it is the most cost-effective way to reach out to your most relevant prospect at the right time. It ensures thatyou reach your patients in the time of their need. Here is a step-by-step healthcare marketing strategy for you. It is designed keeping in mind all the aspects of your healthcare business, including your competitors and prospective patients.
Establish Your Target Customers
The first step starts with identifying the most relevant target market for you. A comprehensive online and offline research would help you with it. The research can be based on demographic, geographic, behavioral, and psychographic information.
Then concentrate on all the marketing resources you have, in order to attract relevant customers. Clarity about your target audience ensures you create the right content for the right people. It also adds to the efficiency and effectiveness of your digital healthcare strategy.
Study Your Competition
Your competitors also target the same audience. So, identify competitive influences and issues to have a proactive strategy and plan. It helps you stay ahead of your competition with your healthcare marketing strategy. Use internet, TV and Radio commercials, referrals, data analysis, billboards, or other media to research your competition.
Internal and External Evaluation
To evaluate your external and internal environment, conduct a SWOT analysis of your healthcare business. Thorough knowledge of your strengths, weaknesses, opportunities, and threats will make you determine how to use your resources for better results effectively.
Decide Your Long-term and Short-term Goals
Most businesses conceive their marketing plans and strategies for a year. However, the best healthcare marketing strategy is the one, which is aligned with both the long-term and short-term goals of your brand. Evaluating, prioritizing, and organizing various combinations of specific marketing tactics and strategies will suit you the best in pursuing your business goals.
Plan Your Marketing Budget
Protecting and generating sources of revenue is generally a significant concern in marketing. Creating a task budget and clear objectives to work towards realizing the exact goals and outcomes you expect from your business is very important. For this, you may have to specify your measurable and quantifiable goals. Define your marketing tactics and strategies, including advertising, brand development and enhancement, networking and public relations, etc.
You also have to evaluate profitability, launching plan, and marketing plan. Moreover, monitor and track closely to adjust tactics and strategies necessary for achieving, maintaining, or exceeding your expected profit level.
The best part of having an effective healthcare marketing strategy in place is that it makes you focus your energy and time on improving your healthcare practice. The digital marketing team will work according to the strategy for realizing both your long-term and short-term goals.
Doing all of it alone may be challenging. We, at Media 7, help healthcare companies, especially healthcare technology providers, with healthcare marketing strategies, which are proactive and profit-oriented. We help you attract prospects, convert them, and make them your customers. To know more about us, visit the Media 7 website.
Frequently Asked Questions
What are marketing strategies for health tech marketers?
Health tech marketers can effectively use many marketing strategies, including engaging customers in social media platforms, video marketing, creating content for niche communities, email marketing, paid media advertising, event marketing, and content marketing.
What are the tips for creating the strategy for health tech marketing?
Updating your organization’s mission, vision, and values, conducting a business and operational analysis, developing strategic options, selecting strategic growth objectives, developing the strategy execution plan can be included in your health tech marketing strategy.
What are the best social marketing strategies for health tech?
Start using chatbots, create a personalized experience for your customers, create an efficient content marketing strategy, create a community for your audience, and create profiles on the relevant channels that can be the best social media strategies for health tech companies.
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Health Technology, Digital Healthcare
Article | August 16, 2023
The one clear consensus that has emerged from this doubt and anxiety-filled time is that our society will be forever changed by COVID-19. In the recent days, we have seen a general movement toward telecommuting and digital solutions to accommodate the drastic changes caused by this global pandemic. The healthcare industry, which is arguably impacted the most, is no exception to this trend. But while the movement to digital healthcare started well before the outbreak, it has been a slow journey, fraught with many regulations that have slowed its market penetration.
With the current system so overwhelmed, a transition from the face-to-face model of care to a digital model has become vitally necessary, forcing it to happen sooner rather than later. Places that have already embraced the digitalization of healthcare practices have demonstrated the benefits of updating the old-fashioned model. A digital approach to healthcare can have unlimited applications, from telemedicine to a digital system for tracking available hospital beds. All of these applications not only save time but also potentially peoples’ lives by eliminating unnecessary contact between infected and healthy patients as well as their caregivers.
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Health Technology
Article | November 18, 2022
Introduction
Within the last two years, the healthcare industry saw an influx in patient care as COVID-19 swept through communities across the globe. The widespread shortage of patient care tools, personal protective equipment (PPE), and medical technology amid the pandemic led to an exponential rise in health expenditures and demand for essential supplies.
In response to the medical demand-supply imbalance, the governments of numerous countries increased their medical care expenditures to counter the challenges of patient care equipment shortages. For instance, according to the National Healthcare Expenditure Data, federal government spending on healthcare and medical care grew by 36% in 2020 and is estimated to reach US$ 6.2 trillion by 2028 in the U.S.
Despite the rise in medical budget allocations, medical facilities are still facing difficulties obtaining enough supplies with the growing prevalence of numerous chronic, infectious, and hereditary diseases. As a result, organizations are focusing on deploying innovative solutions, such as healthcare supply chain management software, to keep track of inventory, procurement, logistics, and others and strengthen their supply chain.
Healthcare Supply Chain Management Solutions: Key Types
Healthcare systems, hospitals, and other patient care sites require a broad array of supplies to perform diagnosis and treatment, from masks and gloves to catheters and implants. Inadequate supplies coupled with inflation is making supply chain management a crucial but complex component in providing optimal patient care across the healthcare industry. This has shed more light on the role of supply chain management in saving lives.
Effective supply chains help various regulatory agencies, including medical goods manufacturers and insurance companies, deliver essential supplies, resources, technologies, and other patient care goods to healthcare establishments. Supply chain management solutions are thus garnering massive traction among healthcare organizations for simplifying and automating manual supply chain and logistics operations.
Let’s have a look at the types of supply chain management software that assist healthcare organizations to optimize their supply chain processes
Inventory Management Software
Efficient medical inventory management is critical for the running of healthcare organizations. The software provides real-time inventory tracking, assisting organizations in closely monitoring inventory changes, avoiding shortages of both low-value and high-use patient care items, decreasing the wait time for access to medical supplies, and reducing the chances of late delivery.
Order Management Software
It is crucial for healthcare establishments to have an estimate of the demand and supply of goods to prevent shortages. Order management software enables these organizations to coordinate supply chain demand planning and forecasting. It also assists in streamlining warehouse operations, resulting in faster and more accurate order placement.
Sourcing and Procurement Software
By tapping into the power of sourcing and procurement solutions, healthcare organizations can develop robust sourcing processes and automate, streamline, and optimize their entire procurement processes. The software also assists establishments in improving their supply inventory levels, identifying the best supplier, and reducing their overall purchasing cost.
Shipping and Tracking Software
Shipping and tracking software assist in the planning and execution of the physical movement of goods. These solutions are primarily used by medical equipment manufacturers and suppliers during the delivery or relocation of patient care goods. The integration of these solutions enables organizations to track and manage numerous batches of goods in transit.
The Bottom Line
Growing competition, healthcare regulations, shipping costs, and increased logistics requirements from medical institutions have complicated the supply chain management processes. As a result, life-science companies are investing in cutting-edge supply chain management solutions to reduce numerous errors, improve logistics, and eliminate unnecessary costs spent to fix them.
Thus, several companies are now emphasizing the incorporation of cutting-edge technologies, including artificial intelligence and data analytics, into healthcare supply chain management software to reap benefits such as process automation, streamlined inventory, reduced waste, improved decision-making, and lower labor, supply, and operational costs.
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