No one wants to invest in solutions that won't provide a return on investment or make a measurable difference in patient experience. Ideally, you want to set clear goals for improvements and choose a solution that will help you reach those goals. Seeing data or first-hand accounts can help you choose the right solutions.
In 2019, Solutionreach conducted research to see what impact patient relationship management software had on healthcare organizations. The data revealed a few keys trends and showed some big differenes for those who use patient engagement software versus those who don't.
First, there was an overall theme that patient engagement technology addresses the main priorities and challenges organizations have related to patient engagement and experience. And, second, it does so in four key ways:
1. Improving Patient Experience
Nearly one-third of those surveyed listed improving patient communication as their top priority. Overall,
83 percent of those who use some kind of patient engagement technology in their organization say that it facilitates better communication with patients and 62 percent said it improves patient engagement. In addition:
- 85% said automated reminders improved patient experience
- 78% said automated recall improved patient outcomes
- 86% said use of text messaging improved patient experience
- 81% said use of text messaging improved patient outcomes
2. Reducing No-Shows
Thirty percent of the survey respondents said that reducing no-shows was their top priority. With no-show rates as high as 30 percent, that is no surprise. The survey showed that over 80 percent of those using automated reminders had a no-show rate under 10 percent and 41 percent had a no-show rate under five percent.
3. & 4. Increasing Revenue and Saving Time
Increasing revenue and saving time often go hand in hand. When staff save time, the organization saves money. When the organization is more efficient and is able to fill the schedule, then revenue goes up as well. Survey respondents who used technology for patient engagement saved time and money and protected revenue by reducing no-shows. Specifically:
- Reducing no-shows from 20 percent to under 10 percent for a single medical proivider resulted in savings of $164,000
- 55 percent said adding automated recall generated $5,000 or more a month in revenue and 14 percent said it added $20,000 or more a month
- 76 percent of respondents said using PRM technology reduced phone time related to reminders to less than an hour a day
- 76 percent said patient engagement software reduced overall phone time for staff to less than two hours a day
The data suggests that the right patient engagement technology can help healthcare organizations improve both patient engagement and their bottom line. To see more of this data, download the full white paper, State of PRM: Four Key Trends.