Healthcare Marketing Strategies for Better Outcomes

BINEESH MATHEW | February 22, 2021

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.


PMG, Inc.

PMG is the industry expert in CHC revenue cycle management. We assist with all aspects of the revenue cycle from point of service to final adjudication of the claim. We work to optimize each client's position legally and ethically. We believe in educating our clients on how to increase revenue from third-party payers so they can enjoy a healthy revenue cycle and focus more on patient care.


Importance of Mental Health for Sustainable Development

Article | May 11, 2022

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And unlike many point solutions that only address a specific revenue cycle issue, Change Healthcare’s technologies are part of a comprehensive approach delivered through a single, trusted vendor. That translates into improved process integration and continuity, as well as simpler overall accountability.

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What’s the Best Post-COVID-19 Anesthesia Business Model -Hospital-Based or ASCs?

Article | February 19, 2022

Anesthesia groups face major challenges in the aftermath of the pandemic: Financially strapped hospitals are increasingly unwilling or unable to pay anesthesia subsidies, and a shortage of qualified anesthesiologists and CRNAs is making recruitment extraordinarily competitive. The good news is that anesthesia opportunities are plentiful in the ambulatory surgery center (ASC) market. As more inpatient procedures migrate to ASCs, anesthesia practices can help meet demand by working with hospitals and ASCs. A dual-contracting approach can help increase revenue, reduce operational risk, enhance recruiting leverage, and present opportunities for equity investments in ASC ventures. Expanding ASC Case Mix Multiple factors are driving increased ASC volume.Consumers have long been attracted to the convenience andfast turnaround timesASCs offer, and as the pandemic began to take hold and patients worried about becoming infected in hospitals, theirpopularityincreased. 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Our anesthesia revenue cycle management services can be deployed either on our own proprietary anesthesia-billing platform or on your hospital billing system. Either way, we’ll provide seamless, end-to-end service.

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Why Including Anesthesia Services in a Single-Bill Strategy Makes Sense

Article | February 19, 2022

As competition for patients intensifies, more hospitals and health systems are embracing a consolidated, single-bill approach for services rendered. Creating a single bill for the patient’s portion of inpatient or outpatient services can help eliminate confusion and reduce the ill will that frequently results when patients receive multiple invoices for a single care event. Yet incorporating anesthesia charges into a consolidated invoice is often problematic due to the unique nature of the anesthesia billing compliance. Anesthesia Billing Service Hurdles A few weeks ago, I met with the CEO of a 300-bed hospital. We discussed anesthesia billing, and he explained that his hospital traditionally outsourced this portion of its billing due to the more complex nature of anesthesia coding and the need to collect anesthesia minutes for billing. Unlike most inpatient services, anesthesia charges are not directly derived from CPT codes but instead utilize minutes and modifiers unique to the specialty. That means coders must use a CPT crosswalk to account for ASA codes, base and time units, emergency- and physical-status monitors, split anesthesia units reflecting CRNA involvement, and other specialty-specific nuances. Most coders and hospital billing staff are not trained in these complexities, and hiring and retaining capable staff in today’s competitive market can be difficult. Moreover, many billing platforms are simply not equipped to incorporate all the variables necessary to produce an accurate anesthesia bill. As a result, producing a consolidated patient bill that includes anesthesia is tricky. Yet leaving anesthesia off a single bill can undercut its value since, after facility and surgical charges, anesthesia often is one of the largest cost items patients incur. Fortunately, we at Change Healthcare know how to roll anesthesia charges into existing hospital billing systems to produce an accurate and timely single patient bill. Helping to Reduce Costs The benefits of consolidated billing extend beyond an improved patient experience. Producing just one bill reduces costs and repetition at both the front and back end of the revenue cycle management process. It can also ease staff burden when collecting on self-pay accounts, since there’s only one bill per patient. Finally, consolidated bills can help increase revenue by simplifying collections when patients present for follow-up care. Here’s an example: When the patient comes back for post-surgery physical therapy, a hospital employee at the registration desk can remind them that they still owe $150 for anesthesia and ask if they’d like to take care of that now. In my experience, patients usually hand over their credit card and settle their bill on the spot when asked at the time of care about a balance due. System-Agnostic Billing Across Hospital Platforms Change Healthcare has a long history of providing full-service, outsourced anesthesia-billing services to hospital and health-system clients. Unlike most other billing vendors, we’ve developed what we call a system-agnostic approach. That means we’ll provide billing services on our proprietary system or on the hospital’s existing billing platform, regardless of type, to generate accurate anesthesia-billing results. In practical terms, we’ll function as part of your billing team and use the same system your coders and billing staff rely on to generate anesthesia charges that can be included in a single patient bill. System-agnostic billing also allows us to provide clients with custom anesthesia reporting that wouldn’t otherwise be available with an outsourced billing solution. This helps clients gain far greater visibility and insight into anesthesia-billing charges. And by incorporating our anesthesia coding and billing capabilities into your existing billing system, you’ll be spreading the platform’s fixed costs across a greater number of departments. The bottom line? It’s not a heavy lift for us to virtually embed our trained anesthesia coders and billing professionals into your system. Our specialists will review your existing platform and provide, at no obligation, a return-on-investment analysis that can help you determine whether outsourcing anesthesia billing to capture claims on a single hospital bill makes sense for you. We expect the answer will be yes. Not only will you enjoy greater system efficiencies, but you’ll be in a position to produce a single bill that truly reflects the entire episode of care.

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PMG, Inc.

PMG is the industry expert in CHC revenue cycle management. We assist with all aspects of the revenue cycle from point of service to final adjudication of the claim. We work to optimize each client's position legally and ethically. We believe in educating our clients on how to increase revenue from third-party payers so they can enjoy a healthy revenue cycle and focus more on patient care.