Why invest in patient relationship management

Despite the intimacy of the patient-provider relationship, patients do switch providers, and their propensity to do so is underestimated by providers.

Categorized as Marketing

There is something unique about the provider-patient relationship.

Healthcare providers have depended on this loyalty for decades.

Do you still believe this is true? Do you believe this is going to remain the case in the future?

Despite the intimacy of the patient-provider relationship, patients do switch providers, and their propensity to do so is underestimated by providers.

Nearly sixty percent of patients that responded stated that they would switch providers for quality or service reasons; whereas fewer than one-quarter of the doctor’s that responded felt that a patient would switch providers for those reasons.

Altarum Institute’s study

The study’s results also showed that there was a disconnect between how satisfied that providers thought their patients were.

They estimated that roughly three-fourths of patients were satisfied; whereas, patients themselves, when asked, stated a satisfaction of roughly forty percent.

Now, look at what’s going on with health plans and their next moves.

Health plan deductibles are going up each year.

Cost sharing with patients is going up.

Concierge medicine is also increasing – which means, patients are spending more money out of their pockets.

Increasingly, patients are behaving like educated consumers. They are looking for more value out of the healthcare $s they spend.

If you do not invest in creating, cultivating, patient relationships, you will be out of business pretty soon.