Leadership and talent Enabling radical cost reduction through effective organizational alignment

| August 3, 2017

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Hospital systems today are actively engaged in a race to meet the challenges of healthcare reform. Many have labored to create the right strategy and plan to pave the way for Radical Cost Reduction RCR in anticipation of the need to operate at Medicare reimbursement rates to remain viable. The resulting future vision for these hospital systems articulates performance goals in the top quartile or even top decile in terms of cost. Obviously, not every organization will achieve such lofty performance goals – in fact, some will not.

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Evidation Health

Evidation Health helps healthcare companies quantify outcomes in the digital era, using real life data from connected patients. The company developed its Real Life Study Solution to accelerate and enhance outcomes research through pragmatic trials-- virtually enrolling study participants 10x faster than traditional methods and rapidly measuring the value of digital health and traditional interventions.

OTHER ARTICLES

6 Coronavirus (COVID-19) Considerations for Telehealth Providers

Article | March 13, 2020

As the novel coronavirus outbreak continues, the federal government and commercial health insurers have taken significant steps to increase Americans’ access to treatment and testing. In the past week, the federal government and private insurers have issued a number of guidance documents expanding coverage and payment requirements in an effort to minimize the spread of the virus. As with any changes in coverage and reimbursement, healthcare providers offering telehealth services should carefully review these changes and take steps to ensure that all regulatory and coverage requirements are met prior to submitting claims for reimbursement.

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Healthcare Marketing Strategies for Better Outcomes

Article | 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. { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [{ "@type": "Question", "name": "What are marketing strategies for health tech marketers?", "acceptedAnswer": { "@type": "Answer", "text": "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." } },{ "@type": "Question", "name": "What are the tips for creating the strategy for health tech marketing?", "acceptedAnswer": { "@type": "Answer", "text": "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." } },{ "@type": "Question", "name": "What are the best social marketing strategies for health tech?", "acceptedAnswer": { "@type": "Answer", "text": "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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Impact of Social Media on Healthcare Marketing

Article | February 12, 2021

Social media has become a powerful tool to connect people with friends, relatives, family, and other loved ones. Worldwide, around 4.2 billion people are actively using the internet. Among them, 3 billion are regularly active on social media channels. Social media is not just about interpersonal conversations; at least 80 percent of users follow one business on Instagram. With all the ads on your Facebook news feed, you connect with various brands or become aware about many brands. But does social media in healthcare make any impact? Almost all industries have started to realize the power of social media and how it can impact connecting with consumers. Various social media platforms help companies share information, increase brand awareness, and partner with industry influencers. Social media has overpowered traditional marketing strategies. Social media has become the wave of the future. Regarding the uptake of social media, the healthcare industry has been a bit slower. However, the industry now has accepted the undeniable importance of social media in healthcare. The reluctance might have been due to the risks associated for the providers as well as patients. Privacy and confidentiality of patient information has to be maintained always. Those were the challenges of social media in healthcare. However, consumers can get information from social media faster than any other tool. The Healthcare industry includes both the healthcare technology providers as well as the healthcare service providers. Whether you are a service provider or a technology provider, social media can impact your customers equally. This article discusses the positive effects and benefits of social media in healthcare, especially healthcare service providers. Embraced by the Medical Community The healthcare industry took notice of social media when government agencies and other business industries started to reap the benefits of social media. A recent survey revealed an interesting fact about the use of social media in healthcare. More than 1500 healthcare providers around the US have social media presence online. Hospitals miss key opportunities if they don’t use social media. These hospital systems have started effectively using social media to reach out to their past, current, and future patients. Social media in healthcare is an easy medium to share vital information with consumers and patients in the industry. The survey also revealed that more than 30% of medical professionals use various social media platforms to network with their peers. Many physicians also use these social media platforms for multiple activities in open forums. Having an active online presence evokes transparency among clients and peers. Healthcare providers can join various platforms such as Twitter to become healthcare influencers. Through social media in healthcare, providers can make connections, engage the community, and explore the industry. The Case of Cleveland Clinic, Ohio Cleveland Clinic in Ohio, US is the best example of how social media can be used to reach out to patients, engage them online, and stay ahead of competitors. They have more than 2 million followers on Facebook, 1.9 million followers on Twitter, and around 5 lack followers on LinkedIn. They have very different and unique social media strategies. They do post about whatever happens on the campus, including doctors practicing in their respective departments and interactive sessions with doctors and HODs, etc. Also, they do provide health tips and information, general health advice, and updates on the latest medical technologies and treatments. Apart from these, the hospital also reaches out to patients for queries and feedback through social media and responds to them promptly. These effective social media strategies help them in building up a brand, reputation management, create a patient relationship and build patient loyalty. Loved by Healthcare Consumers To find advice and new treatments, healthcare consumers widely use social media. This creates an opportunity for providers to connect with consumers through various forms of healthcare educational content. More than 40 percent of consumers believe that social media in healthcare affects their wellness decisions and health. Among 18 to 24 years old, 90 percent of people trust the medical information they get on social media. This shows the importance of healthcare providers on social media channels. Mobile healthcare is expanding as consumers depend more on the internet for information. Countless fitness and health apps are available online. However, many of them are not effective and do not cure diseases but can change behaviors. Having an app will help you increase your accountability, as a provider, among consumers. Positive Impact of Social Media on Healthcare The healthcare community is widely embracing the scope of social media in healthcare. Healthcare technology providers, hospitals, and other service providers are opening new accounts to create a consistent image among consumers. There are many ways to improve care by reaching out to patients through social media in healthcare. Some of the positive impacts of best practices for social media in healthcare are as follows: Increasing Access Across Generations Healthcare companies have almost stopped employing the traditional ways of advertising. Patients always need quick access to information to reduce the risk of getting flu or to find new providers, including baby boomers, every generation is online. According to Forbes, as of 2017, 9 percent of Facebook users were above 55 years of age. This present generation is very tech-savvy, they search online for local healthcare services and healthcare information. They use Facebook and YouTube. So, you need to create a marketing strategy that targets baby boomers. Generation X also searches health-related topics online, which accounts for 1.5 billion views on YouTube each day. As they care for children and aging parents, they may search for the best long-term care facilities, how to soothe a colicky baby, and so much more. As millennials are focused on healthy living and being cost-conscious, they depend more on social media platforms for healthcare information. Ninety-three percent of millennials say that they do not rely on healthcare providers for preventive health information. Thus, as everyone goes online for healthcare information, healthcare service providers should consider the role of social media in healthcare seriously. By providing reliable and accurate information, healthcare providers can engage with consumers and increase the patient experience through social media. Creating Authenticity The days that the patients trust doctors blindly have gone. Healthcare consumers have become smarter and want to have relationships with providers who care for them. Allowing your tech-savvy employees to share videos and pictures of events or office helps have a human touch. It also improves patient engagement and overall patient satisfaction. If patients know the people in your reception or nurses of respective departments, it helps them relax, engage, and makes them share their health history more openly. This is possible as they connect with those in the office through your social media in healthcare. It increases your authenticity. Keeping an Eye on Competitors Administrators and marketers keep an eye on their competitors through their social media platforms. They evaluate pain points, community involvements, service lines, and marketing strategies sitting in their offices. Hospitals and other providers can quickly get feedback on technologies and marketing strategies the competitors are using. This would help them if they want to incorporate these things in their care process before investing. You can take note of the social media platforms where your competitors are performing well. This approach to social media in healthcare would remove the possibility of failure with your social media strategy, especially when you begin with it. Real-time Updates During emergencies and other situations, social media in healthcare allows you to communicate quickly. Social media updates can provide life-saving information, from crisis alerts to census notifications. World Health Organization (WHO) is an excellent example; they provide real-time information to the masses regarding any health crisis, warnings, and other critical safety information during disasters, using social media, especially Twitter. Similarly, by providing real-time information to your consumers through your social media channels, you can increase your authenticity, authority, and dependency. Real-time access to information saves lives. Gathering Feedback Patients often want to communicate with their doctors quickly. They may need to share something about a recent appointment or about a reaction they had to medication. Making patients provide feedback on social media helps you learn how they feel about their medicine and care. You can get essential feedback that might help you improve your care. It also helps you recognize and reward the staff that the consumers recognize. As a provider, you can also get back to them for additional information after the feedback you get from them on social media. This possibility of social media in healthcare will work more to provide better care next time. Social Media for the Future Social media in healthcare is going to stay here and have advancements from time to time. Most of the modern consumers are tech-savvy and want to have everything at their fingertips. Modern patients have no patience. Therefore, social media works to engage patients and enhance the patient experience and satisfaction. Whether you are a large service provider, a solo practitioner, or run a hospital, you need a social media presence. For engaging with your community, social media in healthcare helps a lot. It can make an impact beyond your imagination. Use these strategies to improve the quality of the healthcare you provide. It may be a tiresome job to do it all alone. We, at Media7, provide social media services to engage your consumers. Whether you are a service provider or a technology provider, we are here to help you with our compelling social media strategies. We help healthcare companies generate leads, brand themselves, increase sales, and make them your happy customers. For more details about us, visit https://media7.com/. Frequently Asked Questions What are the advantages and disadvantages of using social media in health care? When used cautiously, social media can provide clear benefits, such as clinical education, professional networking, and patient’s health promotion. However, there can be disadvantages too, including privacy and confidentiality of patients, resulting in formidable consequences. How has social media influenced the marketing of health care? For establishing public awareness and managing reputation, social media is practical means. As part of an effective marketing plan, social media has become an essential medium for healthcare professionals to interact with consumers and engage them. What is the Importance of Social Media in the hospital? By providing important and general information on healthcare, hospitals can make their presence more valuable to consumers. Encouraging patients to share their feedback and thoughts makes hospitals connect with them and improve the care process. { "@context": "https://schema.org", "@type": "FAQPage", "mainEntity": [{ "@type": "Question", "name": "What are the advantages and disadvantages of using social media in health care?", "acceptedAnswer": { "@type": "Answer", "text": "When used cautiously, social media can provide clear benefits, such as clinical education, professional networking, and patient’s health promotion. However, there can be disadvantages too, including privacy and confidentiality of patients, resulting in formidable consequences." } },{ "@type": "Question", "name": "How has social media influenced the marketing of health care?", "acceptedAnswer": { "@type": "Answer", "text": "For establishing public awareness and managing reputation, social media is practical means. As part of an effective marketing plan, social media has become an essential medium for healthcare professionals to interact with consumers and engage them." } },{ "@type": "Question", "name": "What is the Importance of Social Media in the hospital?", "acceptedAnswer": { "@type": "Answer", "text": "By providing important and general information on healthcare, hospitals can make their presence more valuable to consumers. Encouraging patients to share their feedback and thoughts makes hospitals connect with them and improve the care process." } }] }

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Healthcare Providers Remain Targets for Ransomware Attacks in the Midst of COVID-19 Pandemic

Article | April 1, 2020

Although it was widely reported that several ransomware threat actor groups have pledged to not target healthcare providers until the COVID-19 pandemic is over, BakerHostetler’s Digital Assets and Data Management Practice Group and Healthcare Privacy and Compliance team continue to see ransomware attacks launched against healthcare providers. In order to combat the COVID-19 pandemic, healthcare providers have had to radically change their normal business processes, which could make them more vulnerable to ransomware attacks. The response to the COVID-19 pandemic has required healthcare providers to make difficult choices related to workforce staffing. Some healthcare providers have been forced to furlough or lay off nonessential workforce members. Healthcare providers also are permitting some workforce members to work remotely. As previously reported by the Data Privacy Monitor, having a reduced workforce and a remote workforce could put healthcare providers more at risk for cybercrime, including ransomware attacks.

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Spotlight

Evidation Health

Evidation Health helps healthcare companies quantify outcomes in the digital era, using real life data from connected patients. The company developed its Real Life Study Solution to accelerate and enhance outcomes research through pragmatic trials-- virtually enrolling study participants 10x faster than traditional methods and rapidly measuring the value of digital health and traditional interventions.

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