Article | April 16, 2020
Virtual care and telehealth are no longer seen as merely an innovative method of delivering healthcare; technology is now indispensable to protecting patients, staff, and PPE resources amid the coronavirus pandemic. In a recent Harvard Medical School blog, Lee H. Schwamm, MD, shared that “telehealth, the virtual care platforms that allow health care professionals and patients to meet by phone or video chat, seems tailor-made for this moment in time… The current crisis makes virtual care solutions like telehealth an indispensable tool.” He believes that the role of telehealth is vital to our country as “it can help flatten the curve of infections and help us to deploy medical staff and lifesaving equipment wisely.”
FUTURE OF HEALTHCARE
Article | April 16, 2020
Let’s face it. It’s been one tough year with too many of us sitting idle and indulging in calorie-laden foods for way too long as the coronavirus pandemic continues to sweep the globe. For all too many, sheltering in place has prompted unwelcome weight gain—a troublesome truth as we head into the holiday season where gluttony oft reigns supreme.
That said, many individuals did have foresight and motivation back in March and the months that followed, wisely leveraging that extreme downtime to “diet for dollars” with HealthyWage—a pioneer of money-driven weight loss contests and challenges for individuals, teams and business groups. In fact, those who started a 6-month HealthyWager challenge during the pandemic (late March through May) broke company records, spurring a dramatic increase in pound shedding success rates—and in-kind cash payouts—against the norm. So motivated became America to drop, or avoid, the so-called ‘quarantine 15’ and score some cold hard cash in the process, HealthyWage reports that this past May it logged a substantial year-over-year increase in challenge participants at large. This is not surprising given Google search trends indicates the portion of people searching for weight loss hit a 5-year high in May of 2020—a level even exceeding the quintessential New Year’s diet resolution season.
Beyond the fact that people who started weight loss wagers during the pandemic achieved much greater success as compared to participant results the prior year, and earning hundreds and even thousands of dollars for their efforts, it is women and individuals under 30 years of age primarily accounting for the sustained increases. For example, among the litany of pandemic era success stories, Lisa S. won over $1,900 for losing 50 pounds in 6 months while Hayden T. won over $1,200 for losing over 62 pounds in 6 months—both during the COVID-19 pandemic.
As the coronavirus rages on well into the fourth quarter, we collectively find ourselves again having to shelter-in-place. Those trying to reconcile how they will survive this next round of being home bound, and the holiday season at large, with mitigated waistline and budgetary wreckage—and who are even planning their New Year resolution approach just beyond—would be wise to consider the gamified dieting approach. “Loss Aversion is a powerful dynamic and the reality of having ‘skin in the game’ can propel the results of a gamified weight loss initiative,” notes HealthyWage co-founder David Roddenberry.
The efficacy of diet gamification is well-proven. For one, according to study findings published by JAMA Internal Medicine, behavioral economics-based gamification led to “significantly” increased physical activity among overweight and obese Americans. In this particular study, pairing a step tracking device with social incentives led to sustained, long-term behavior change—prompting participants to take more steps then with a step tracking device, alone. While the report explains that “gamification interventions significantly increased physical activity during the 24-week intervention,” with competition being the “most effective.”
That’s something HealthyWage has seen play out since launching its weight-loss gamification platform in 2009. HealthyWage is, in fact, founded on earlier substantive research and "double-incentivization" methodology that proves competition and rewards—especially the cash variety—can as much as triple the effectiveness of weight loss programs.
“A key element for the success of a gamification program is giving participants something to lose if they fail to meet their goal—whether tangible or intangible,” notes Roddenberry. “In this particular study, it was just points at stake but even this effected behavior change. There are actually throngs of studies demonstrated that the threat of losing something of value is much more effective than the opportunity to win something of equal value. That’s precisely why we advocate that program participants ‘pay to play’ and make an investment out of their own pocket in order to win rewards—in our case large cash prizes—for losing weight and getting more active in the program.”
A few other notable HealthyWager success stories (both female and male) are case-in-point. These include Jean N. who lost 71 lbs. and won $3,357.99 for her efforts, and Jeremy M. who also lost 71 lbs. and won $1,886.32 for his own slimdown success. From its website, HealthyWage.com shares yet more inspirational success stories of both women and men who gained financially for their pound-shedding achievements using the company’s unique gamification approach. This includes Kristin W. who lost a staggering 114 pounds and won $4,000 for her efforts, Anastasia W. who lost 41 pounds and won a whopping $10,000 in kind, and Blake S. who lost an impressive 151 pounds and won $4,670 for his own slimdown success. Figures that are tasty, indeed.
These and other such HealthyWage payouts are proof positive. For their weight-loss achievements that collectively exceeds an astounding 1,050,000 pounds for this year, alone—269 of which losing in excess of 100 pounds (and nearly 7.5 million pounds lost since the company’s launch), HealthyWage has reportedly paid more than xx30,000 dieters over $13 million cash in 2020, specifically, and over $55 million cash since its inception in 2009.
HealthyWage programs apply these principles:
HealthyWager Challenge: participants commit to a weight loss goal and an upfront financial payment and get their money back plus a financial return if they accomplish their weight loss goal. The average participant loses 40.7 pounds and gets paid $1,245.
HealthyWage Step Challenge: participants commit money and agree to increase their steps by 25% over 60-days. If they achieve their goal they get their money back plus the money from those who don't hit their goal.
Upholding the new findings while also further validating HealthyWage’s well-honed approach, an additional study published in the journal Social Science and Medicine continue to prove that money is an effective motivator to “increase both the magnitude and duration of weight loss.” The same hold true in business for staff wellness initiatives. Results from one study published in the Annals of Internal Medicine indicated that “Loss Incentive’ Motivates Employees to Take More Steps ,” finding that financial incentives framed as a loss were most effective for achieving physical activity goals.
As a prolific corporate and group wellness purveyor, since 2009 HealthyWage has worked with an array of hi-caliber participants on workplace and staff wellness initiatives, including Halliburton, ConocoPhillips and more than 25% of the largest school districts in the country. HealthyWage has, in fact, formally created competitive, money-motivated programs for more than 1000 Fortune 500 and other public and private companies, hospitals, health systems, insurers, school systems, municipal governments and other organizations throughout the U.S., and their program has been more informally run at more than 7,000 companies and organizations seeking to bolster staff health and well-being, and boost bottom lines in kind.
“Throngs of studies reiterate the importance of the 'stick' in the design of a wellness incentive program, whether for individuals at home or for employee groups,” Roddenberry says. “Many studies have demonstrated that the threat of losing something of value is much more effective than the opportunity to win something of equal value. That’s precisely why we advocate that program participants ‘pay to play’ and make an investment out of their own pocket in order to win rewards—in our case large cash prizes—for losing weight and getting more active in the program.”
Studies do consistently show that monetary incentives serve to enhance the effectiveness of, and duly complement, weight-loss programs of any and all sorts, especially when paid out quickly like HealthyWage’s various programs. For its part, HealthyWage reports that the average participant more than doubles their investment if they are successful at achieving their goal. The financial upside potential is impressive.
So, if this is the season when you would like to not only resolve to lose those extra lbs. but also actually achieve that worthy goal, consider a cash-fueled approach. It just might give you that extra dose of motivation that’ll truly help you stay the course, shed weight and make some extra money in the process. There’s no better time than right now to bank on yourself.
Article | April 16, 2020
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.
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.
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.
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.
"name": "What are marketing strategies for health tech marketers?",
"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."
"name": "What are the tips for creating the strategy for health tech marketing?",
"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."
"name": "What are the best social marketing strategies for health tech?",
"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."
Article | April 16, 2020
Healthcare, more than most sectors, is heavily data-driven. This has prompted the industry to innovate using technology. The healthcare cloud computing market, for example, is expected to be valued at $55 billion by 2025. Technologies such as cloud computing, give healthcare new ways of collecting, sharing, and analyzing data, that will ultimately result in better healthcare and patient outcomes. But keeping up to date with new technologies can be a costly business. Both in terms of time, but also in the need for specialist IT staff. This is where outsourcing IT to a managed service provider (MSP) comes in. Here we look at why using an MSP is a healthy choice.