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The Definitive Guide to Healthcare CRM
A practical guide for successful CRM selection, implementa-tion, and value creation
Seven Strategic Goals that Scream, “We need CRM!"
EXCERPT FROM:
The Definitive Guide to CRM: A Practical Guide for Successful
CRM Selection, Implementation, and Value Creation
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In this chapter, we’ll answer your questions about:
• Why is healthcare CRM important for meeting consumer
expectations?
• How can a healthcare CRM help my organization achieve its
strategic goals?
• Can CRM benefit my bottom line? Can CRM improve patient loyalty?
• What about improving population health?
• How does data security and compliance factor into healthcare CRM?
Chapter 2
Seven strategic goals that scream, “We need CRM!” Every healthcare organization operates around a three- to five-year strategic plan that should inform department-level priorities, objectives, goals, and investments. When reviewing your organization’s overarching strategic plan, take note of any of these key imperatives that scream of the needto invest in a Healthcare CRM.
DON'T HITSNOOZE
Understanding consumer interactions across all touch-points
is a marketer's #1 challenge.
Source
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Competing for consumer attention and market share
Empowered healthcare consumers are making choices about healthcare differently. This
new competitive dynamic is very real and requires a strategy to respond. Marketers that
leverage CRM data to deliver personalized digital experiences take share of wallet from
those that do not.
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CONSUMER DIGITAL PREFERENCES Download Deloitte pdf
Seven strategic goals that scream, “We need CRM!” 4
Achieving a higher return on marketing investment
CRM programs produce incremental revenue typically from less expensive patient
acquisition, better payer and case mix, increased cross-selling, higher patient
satisfaction, and improved patient retention.
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8.7:1 ROICRM gives an average of$8.71 for every $1 spent
Source
8x ROIMcKinsey research reveals that
personalization can deliver five to eighttimes the ROI on marketing spend
Source
Seven strategic goals that scream, “We need CRM!” 5
27%CRMs are known to improve
customer retention by as much as 27%
Source
75%3 out of 4 consumers say they
spent more money with a brand becauseof a positive customer experience
Source
Increasing patient loyalty and lifetime value
The real value of CRM comes from retaining and deepening the consumer
relationship over time. Consumer loyalty is not just a buzzword in the CRM business
case; it represents tangible efforts with dramatic, measurable, short-term impact
on the organization’s bottom line and long-term revenue increases that will
outpace your local competitors.
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Seven strategic goals that scream, “We need CRM!” 6
Becoming a data- and performance-driven marketing team
No matter how many Excel spreadsheets, lists, or shared network folders you make accessible to
your team, these manual systems can never give you the clear insights a CRM solution can offer
at a glance. Yes, some advanced Excel formulas can reveal interesting statistics, but the amount
of time that goes into generating such reports is unjustified when a CRM can generate instant
reports featuring multiple aspects of your consumer audience, lead funnel, and current patient
base. All the data and insights that CRM solutions provide will give your marketing leaders the
metrics they need to speak confidently to the C-suite about marketing’s revenue impact.
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Seven strategic goals that scream, “We need CRM!” 7
Improving population health
As the healthcare industry continues its shift away from a fee-for-service (FFS)
model toward one focused on payments (and penalties) for performance, it is
becoming increasingly important for your marketing team to do what it can to
support population health initiatives. Those with access to a CRM database have
proven to be very effective in encouraging a healthy patient population by directing
individuals to the appropriate care when they need it.
Use CRM to engage diverse populations with unique needs
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HIGH-RISKComplex, chronic diseases,multiple providers, etc.
RISING-RISKMay have conditionsnot under control
LOW-RISKMinor conditions buteasily managed.
Seven strategic goals that scream, “We need CRM!” 8
7520
5
%
%
%
of patients
of patients
of patients
Ensuring regulatory compliance and data security
Due to reasons already outlined, people in your organization are attempting to
organize consumer data today, one way or another. Right now, they are likely
using Excel spreadsheets, web forms, email folders, and marketing automation
databases to store and track this information. Without a CRM, the odds are high
that you will ultimately lose the data or it will become compromised, at some
point. One of the most common ways data is compromised is by an unauthorized
employee, followed by data theft, then hack attacks, etc. With a CRM solution,
data is securely stored in the cloud on servers that ensure and track proper
access protocols.
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HIPAA and other compliance requirements are not easy to uphold, but costly to ignore. While CRM alone isn’t enough to ensure rock-solid PHI protection, it still improves overall security by encrypting sensitive data and allowing backups to restore it after a malicious attack.
59% of employees steal proprietary corporate
data when they quit or are firedSource
Seven strategic goals that scream, “We need CRM!” 9
CU STOMER REL ATIONSHIPMAN AGER
Fueling a consumer centric culture
Most healthcare organizations are in the midst of a transformation to a consumer-
centric culture. It’s easy to talk about putting consumers first, but it’s impossible to
do without a CRM system in place. CRM data can be used not just by marketers,
but by stakeholders across the enterprise to improve the consumer experience at
every touch-point. It can be used by executives to create market projections and
reports, by marketers to power highly personalized, measurable campaigns, by
contact center reps to better engage consumers, by the patient experience team to
manage patient experience surveys, and by clinical care teams to better intercept
and educate at-risk patients. The long-term potential for CRM is exponential, and
many new use cases are only beginning to be conceptualized or considered.
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CUSTOMER RELATIONSHIPMANAGER
Seven strategic goals that scream, “We need CRM!” 10
CONCLUSION
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There you have it…
everything you ever wanted to know (and then some) about healthcare CRM. Whether your organization is a first-time CRM buyer or looking to replace an existing healthcare CRM with a contemporary solution designed for the digi-tal era, now you understand why CRM is the technology that will propel your organization into the new era of relationship-based marketing and consumer experience enablement with quantifiable results.
Undoubtedly, healthcare CRM is constantly evolving. We’ll continue to stay on the forefront of CRM trends and keep you up-to-date with our website, blog, and CRM resources at https://partners.healthgrades.com/systems/healthcare-crm.
© Copyright 2019 Healthgrades Operating Company, Inc. All rights reserved
partners.healthgrades.com
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