Almost to market leadership

Just a few critical steps away.

Scoring Range: 20–32

The readiness assessment indicates you are at the 52nd percentile — slightly better than average.

With greater focus, authority, and measurement, you could turn your patient experience efforts into a significant market advantage by capturing market share and improving patient loyalty in measurable ways. This isn’t a “Me Too” market strategy; the first hospital or health system to institute the necessary programs wins.

And by wins, I mean these three value streams:

01

Capitalize on quality incentives within your managed care contracts

02

Capture all net patient revenue during each episode of care (no care delivered outside your system)

03

Seize the market share of your primary and secondary service area when medical services are needed

What are the revenue implications?

The net revenue patient lifetime value (PLV), per Crowe’s Revenue Cycle Analytics software, is about $500,000 per person.


Organizations like yours that seek to establish the infrastructure necessary to monetize patient experience find the most success by focusing on the following:

Create centralized monitoring of net revenue and patient engagement tied to a specific “beta” initiative at the outset (e.g. by specialty, by place of service, by population grouping)

Designate a specific leader (i.e. not a committee) with sufficient authority to invest in programs, technology, and/or shared personnel to achieve agreed-upon goals (e.g. market share). Hint – If this leader reports to the CFO, it makes it easier

Inventory the technology (e.g. “ClinTech” and “MarTech”) available to create individualized communications for loyal-to-be patients – start with consistent notifications, and consider a loyalty program

Thank you for completing the readiness assessment.


If you would like to receive an individualized action plan based on your current answers with operational next steps, please click below and you’ll receive a document that contains work steps, timelines, and accountabilities.