Patients More Loyal to Quality and Experience Than Providers

By AAPL Staff
September 24, 2018

Data gathered through a campaign organized by VCU Health System shows brand allegiance is giving way to competitive forces. Here are a few findings from the research.

It’s five to 10 times more costly to acquire new patients than to retain existing ones.

Unfortunately for health care systems, patient loyalty to providers — the bedrock of profitability — is giving way to competitive forces, including the desire for Amazon-style, on-demand transactions.

Virginia Commonwealth University Health System has started a campaign, supported by patient survey data, to help health care companies retain and attract patients through enhanced customer service.

Some of its findings:

Consumers unsatisfied with their health care experience:

  • 81 percent.

Loyalty is declining by generation. Who is no longer loyal to a brand:

  • 20 percent of baby boomers (ages 51-69).
  • 44 percent of Generation X (ages 35-50).
  • 43 percent of millennials (ages 8-34).

Here are six important factors for patients:

  • Affordability.
  • Choice.
  • Access.
  • Responsiveness.
  • Convenience.
  • Personalized care.

Potential game changers:

  • 61 percent would switch providers for ability to get an appointment quickly.
  • 52 percent would switch providers to get an appointment at a convenient location.
  • 51 percent would switch providers for great customer service.
  • 50 percent would pay more for services such as weekend and/or after-hour appointments.

Source: Webinar, “Embracing the Experience: How VCU Health Drives More Volume by Transitioning from Traditional Marketing to Personalized Experiences”; hosted by Becker's Hospital Review; sponsored by Envera Health and Evariant. 

Topics: Management Journal

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