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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.

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