For decades, Customer Relationship Management (CRM) solutions have helped many organizations track consumer interaction, engage consumers across channels, and predict consumer behavior. In fact, when it comes to bottom-line growth, Becker’s Hospital Review reported that CRMs have improved customer retention by as much as 27 percent and that a 10 percent increase in customer retention levels can result in a 30 percent increase in the value of a company.
And, while this makes traditional CRM an extremely valuable tool for many industries, it isn’t really meant to operate the same in healthcare.
What is CRM in Healthcare?
Healthcare-specific CRM solutions have the ability to ingest and merge a variety of data sources, such as medical records via HL7, event registration data, and Experian demographic data. The ability to handle PHI while staying fully HIPAA compliant is part of what sets a healthcare CRM apart from other horizontal martech solutions.
When you can integrate and segment data from a variety of sources in a secure and compliant fashion, the possibilities for leveraging your CRM investment exponentially expand. Identifying and messaging to specific audience segments helps maximize your budget and increases the likelihood of your campaigns resulting in a positive return on marketing investment.
For example, the data you gather via CRM makes it possible for your marketing team to:
- Drive organizational goals such as service line growth, revenue generation, and patient acquisition
- Create predictive models to reach more consumers that resemble existing patients
- Segment your audience so your campaigns only reach those consumers most likely to respond to your specific messaging
- Drive cross-sell opportunities for services
- Re-target consumers who have expressed interest in a service but have not yet used that service
- Improve consumer lifetime value with more personalized and relevant interactions
Beyond leveling up your marketing efforts, a good healthcare CRM can help you create a customized consumer experience that makes the healthcare consumer journey more convenient and effective for caregivers and patients.
Forward-thinking organizations can also use healthcare CRM data to positively affect patient outcomes and close gaps in retention rate by understanding where your consumer experience touchpoints need help.
In order to serve the complex needs of healthcare organizations, your healthcare CRM system must be able to:
- Organize non-clinical data (like socio-economic factors and demographics) so that it’s accessible for caregivers and providers
- Integrate with other technology investments, including patient portals and marketing platforms
- Facilitate a customer-centric approach to connections with prospects, patients, and health plan members
Taking things a step further, advanced healthcare CRM systems use artificial intelligence (AI) to provide organizations with predictive analytics and advanced modeling techniques. With AI technology you can create rules-based systems of service line and procedure scoring that inform segmentation and targeting that evolves into a self-learning algorithm.
Adding AI to CRM also makes it easier for marketing to:
- Predict the best offer for an individual consumer at the moment of their interaction on your website or within your social profile
- Adjust spending between programs based on a real-time understanding of benchmarks and ROI
Healthcare CRM also has to address the stringent privacy and security considerations surrounding healthcare. Personal information protections for medical information, personal and insurance data, and HIPAA requirements should be built into any system you use, with configurable permissions based on user role and situation.
Finally, there are additional financial protections and security measures that should be included in your healthcare CRM, including: two-factor authorization, guarantee against unauthorized access, debit card blocking, photo credit cards, and smart cards.
Want to learn more about building a better customer experience across your healthcare organization? Check out our Definitive Guide to Healthcare CRM.