You may think your healthcare customer relationship management (CRM) system is simply a marketer's tool, put in place to attract and retain a loyal patient-base, but you're missing out on getting major value out of your investment if that's all you use it for. Modern healthcare CRM systems do help market to consumers more effectively, with sophisticated targeting capabilities and multi-channel campaign attribution, but their true benefit for your organization comes in how they help you track and measure across the spectrum of your efforts and deliver reports on everything from effectiveness to downstream return on investment.
Because a healthcare CRM is, effectively, a data aggregator and organizer for marketing campaign data, website data, and third-party data sources, marketers can use it to create better healthcare consumer experiences through traditional and digital content, personalized user experiences and messaging, and more. But, with this wide variety of possible activities, it can be easy to get bogged down in individual campaign performance. Your healthcare CRM should be able to help you take a much wider perspective and assess how this combination of efforts benefits your organization's bottom line.
More Value From Your Investment
With 60% of hospitals already using a CRM, according to the Society for Healthcare Strategy & Market Development (SHSMD), and CRMs thought to improve customer retention by as much as 27%, it's helpful to know that a 10% increase in customer retention levels result in a 30% increase in the value of the company.
So how do you start getting more out of your CRM investment and use it to help retain patients? For starters, look beyond traditional acquisition marketing use cases to leverage CRM data for things like value-based care initiatives. With condition-specific data and HL7 data aggregated and sorted in your CRM, you can use the technology to create:
- Health Risk Assessment (HRA) campaigns that identify those at risk…of cancer, of neglecting to get their flu shot, of needing an annual physical. Your at-risk assessment possibilities are endless
- Appointment reminders via text, phone or email
- Chronic condition engagement and support campaigns
- Emergency department redirect campaigns to urgent care
- Readmission reduction campaigns
- Screening reminders
Once you deep dive into the data reaped from your CRM, you can begin to accumulate additional use cases, behaviors, problems to solve, and patient journeys that can help you realize CRM is a multi-verse tool not simply for marketing purposes anymore, but an organization-wide, limitless base for value-based care.
Data is the Key to Success
Because marketing departments have more traditionally been thought of as cost centers rather than revenue generators, and CRM has been lodged in marketing's wheelhouse, you need to foster a change in mindset to get everyone in your organization on board with using CRM in this new, expanded way. Without permission to access that clinical or financial data, for example, any reporting on contribution to revenue will be incomplete.
In order to use CRM in this transformative way, CIOs, CFOs, IT, and marketing must come together on sharing data. Define what use cases matter for your organization, and craft a strategic plan for how to leverage the investment across departments. Then, all stakeholders need to agree on what success looks like, what measurements are meaningful, and how often to report on progress, successes, and lessons learned. You'll be learning from the data as you go along, seeing what tactics look initially effective but don't translate into revenue or improvements in health versus those that make a real difference in your bottom line.
Steering your organization to utilizing CRM for organization-wide efforts requires ongoing investment in the data, vision in the content and business processes by all of C-suite, as well as commitment to looking toward the endless possibilities on this journey for increased revenue that will help grow your business and provide dynamic, valuable experiences your consumers expect.
Want to learn more about how to leverage a modern healthcare CRM for your organization's broader goals? Download our Definitive Guide to Healthcare CRM.