Uncover the ROI of Patient Engagement
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This webinar discussed how patient engagement can provide a return on investment for medical practices. It defined patient engagement as activities like appointment reminders, online reviews, and post-visit follow up messages. Data was presented showing how practices that implemented reminders, improved their online presence, and regularly followed up with patients saw increases in appointments booked and reductions in no-shows. The webinar highlighted specific examples of practices that successfully utilized tools from Kareo, a cloud-based medical software company, to automate patient engagement activities and better connect with patients.
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Uncover the ROI of Patient Engagement
- 1. webinar Uncover the ROI of Patient Engagement Presented by John Sung Kim & Molly Maloof, MD November 18, 2015
- 2. @GoKareo Agenda 2 Agenda 2 • Welcome & Introductions • Uncover the ROI of Patient Engagement • Kareo’s Role • Questions
- 3. @GoKareo 33 Speakers Molly Maloof, MD University of Illinois College of Medicine General Practitioner in San Francisco focused on health optimization. Advisor to early stage health technology startups Digital health advocate Medical Advisor to Kareo
- 4. @GoKareo 44 Participate via Social We’ll be live tweeting during today’s webinar How to participate: 1) Follow @GoKareo on Twitter 2) Follow @LeaChatham on Twitter 3) Search for #KareoTip 4) Join the conversation using #KareoTip twitter.com@GoKareo facebook.com/GoKareo
- 5. @GoKareo 55 Speakers John Sung Kim Technology evangelist at Kareo Previously, CEO of DoctorBase Founder and founding CEO of Five9 Consultant to startups and government organizations (RingCentral, Qualys, the State of California)
- 6. @GoKareo Agenda 6 Agenda 6 • Introductions • Uncover the ROI of Patient Engagement • Kareo’s Role • Questions
- 7. Defining Patient Engagement Different people define differently!
- 8. @GoKareo 88 Patients as Consumers • Patients top 5 engagement features: • Email their doctor (62%) • Book appointments online (50%) • See online reviews (76%) • Get text reminders (40%) • Medical records online (75%)
- 9. @GoKareo 99 Provider Perceptions of “Patient Engagement” 75% of physicians stated lack of reimbursement was primary barrier for not using secure messaging to communicate with patients. (2004 Inform Survey of Primary Care Physicians)
- 10. @GoKareo 1010 • Loss leader activity. • Time consuming. • Expensive IT. • Ongoing maintenance. • Compliance and liability issues. Provider Perceptions of “Patient Engagement”
- 11. @GoKareo 1111 How Large(r) Health Systems “Engage” An average hospital can have an ROI of 733% on reducing readmissions through smartphone app features (condition education, after discharge contact and education, online appts), and a 1,560% ROI in total on patient engagement. (Axial Exchange Study)
- 12. @GoKareo 1212 How Large(r) Health Systems “Engage” • Priced into premiums / co-pays / fees. • Leverage secure messaging to offload unprofitable or follow-up appointments. • Use post-discharge automated messaging to reduce readmissions. • Use patient engagement technologies as brand differentiator. • Use engagement tools to measure patient satisfaction and increase new patient referrals.
- 13. @GoKareo 1313 How Small(er) Practices “Engage” “Some practices are gaining 20% of their new patients from web publishing (social media, etc.” (Forbes, October 2012)
- 14. @GoKareo 1414 How Small(er) Practices “Engage” • The Three “R’s” of Profitable Engagement • Reminders • Reviews • ReCare • Additional functions practices can implement: • Online booking • Mobile websites • Secure messaging • Clinical Content Marketing on free “Q&A” sites
- 15. Reminders The Top of the Funnel
- 16. @GoKareo 1616 Facts on Reminders • 40% of patients willing to switch to a doctor who offered email. • 40% of patients want text reminders. • Use of email and text reminders reduced appointment no-shows by an average of 38% • The average revenues saved per independent practice using automated reminders was $2,938 to $30,506 depending on the size and specialty of the practice.
- 17. @GoKareo 1717
- 18. @GoKareo 1818 Case Study – WestGate Skin • Single provider dermatology practice in Austin, TX. • Send 1,800 email and text based reminders per month: 900 emails and 900 texts. • Seeing 18+ appointments per day. • Manual calling for appointment reminders took office staff 70 minutes per day (including repeat calls and voicemails callbacks). • No-shows dropped by 70% - 80%.
- 19. @GoKareo 1919 Reminder System Tips • Fully train staff how to set up automated text and email appointment reminders. • Test it out first on a staff’s email so you understand the patient experience. • Start with an automated text or email (or both) a week before each appointment. • A day or two before, move on to a more involved reminder like an automated text, email with a confirmation prompt.
- 20. Reviews The New Currency of Social Media
- 21. @GoKareo 2121 Reviews • How do reviews affect annual revenues? • Public perception about reviews • Good + Bad mix lifts trust factor • What to do about negative reviews • Understanding TOS and EULA • Proper responses • Asking for removal
- 22. @GoKareo 2222 Reviews – Dr. Scott Kramer, OB/GYN • Single location practice. • Has generated 251 positive social media reviews over 36 months, an average of 6.8 per month. • Ranks #1 in Google for “Dr. Scott Kramer.” • Average 4.75 star ratings on first page of search results for his brand across multiple 3rd party sites. • His published reviews are read 3 to 5 times per day, generating an average of 1 potential patient phone call per business day.
- 23. @GoKareo 2323 Review Automation System Tips • Use a multi-site approach to send your patients to review (Google+, Yelp, HealthGrades, etc.). • Use a “Safe Harbor” review system to prevent negative reviews from becoming posted automatically online. • Respond to negative reviews immediately. • Understand the TOS and EULA of websites before requesting a negative review be removed from a 3rd party site. • Send “engagement” messages such as appointment reminders and re-care messages before asking a patient for a survey or review.
- 24. ReCare Leveraging Existing Patients for Maximum Revenues and Care
- 25. @GoKareo 2525 ReCare • Defining the types of ReCare • Post-visit messaging • Condition specific or generic • Routine visits reminders • Patient response rates • Does condition specific ReCare messaging increase non-compensated workload for providers and staff?
- 26. @GoKareo 2626 ReCare – Bednar Cosmetic Surgery of Charlotte • Solo practice in Charlotte, NC. • Over the last 38 months, the office has sent 4,730 re-care messages to existing patients, for an average of 125 re-care messages sent per month. • Sends re-care messages through email. • This office has seen a near 55% open rate by patients of trackable re-care emails sent.
- 27. @GoKareo 2727 Re-Care System Tips • Set reminders for staff to create seasonal re-care messages for periods such as flu season, back to school season, etc. • Set re-care messages to go out to patients for their milestone birthdays. For example, prostate exams for men on their 50th birthday. • Take great care to test out how your re-care messages appear to patients on both iPhones and Android phones. • As great subject lines can make significant differences in the open rates of re-care emails, ensure your emails have eye-catching content and are to the point.
- 28. @GoKareo 2828 Conclusion • Patient Engagement: - Is more than just a buzzword. - Is a consumer experience – convenience! - Can increase patient loyalty and word of mouth referrals. - Can lead to more glowing reviews. - Can be accomplished through re-care messaging. - Can have a positive return on investment!
- 29. @GoKareo Agenda 29 Agenda 29 • Introductions • Uncover the ROI of Patient Engagement • Kareo’s Role • Questions
- 30. @GoKareo 3030 Discover Kareo’s Role Cloud-based Billing, Scheduling & Practice Management Electronic Health Records Medical Billing Services Practice Marketing & Patient Engagement Free Education, Training, & Support Ranked #1 by Black Book 3 Years
- 31. @GoKareo 3131 Discover Kareo’s Role DoctorBase Practice Marketing & Patient Engagement • Appointment reminders • Recalls • Email & text communications • Patient surveys • Website & SEO • Online reviews • Provider directory • And more
- 32. @GoKareo 32 See how your medical practice appears online Scan your medical practice across the internet for free • 77% of patients search online before making an appointment with a medical provider • Instantly scan 60+ directory listings including HealthGrades, Vitals, Yelp, and Facebook • Gather, manage, and update all you practice information in one place
- 33. @GoKareo Agenda 33 Agenda 33 • Introductions • Uncover the ROI of Patient Engagement • Kareo’s Role • Questions
- 34. Connect with Kareo Stop by and say hi! Kareo @GoKareo GoKareo Kareo 3353 Michelson Drive, Suite 400 Irvine, CA 92612 (888) 775-2736
Editor's Notes
- John – patient engagement is buzzword. Depending on who you are, everyone defines it differently. Let’s look at how Patient define How policy wonks define How entrepreneurs/investors define Most importantly how providers define Patient Engagement is probably one of the most misunderstood and controversial buzzwords in healthcare in the last decade. Depending on who you are, Patient Engagement is either the second coming of Healthcare or another pesky hurdle for providers to deal with. - Patients define engagement by ‘Convenience!’ - Online appointment booking - Emailing their provider - Paying bills online - Policy Wonks define as ‘Lowering Costs’ - Increased operational efficiencies - Increased levels of care quality - Entrepreneurs define by ‘finding inefficiencies and bringing value through products or services.’ - Providers define Patient Engagement as ‘Negative ROI.’ - More time spent dealing with patients - No or little reimbursement for Patient Engagement
- Molly – consumerization of the patient experience. On demand economy. Uber, post-mates, ultimately what it comes down to is convenience. Those who know how to fill this demand wil be the new winners The “Consumerization of Healthcare” has certainly put pressure on healthcare providers as they must deal with a myriad of new concerns such as patient reviews online, the demands of convenience, and increasing expectations. In other words, while companies like Apple and Uber have taught consumers that ‘Convenience is a Right,’ that has brought increasing overhead burden on independent practices. - Patients are increasingly choosing doctors based on online reviews. - Secondary factors include: - Booking appointments online (Accenture Study) - Being able to email a doctor (Atlantic article) - Technology features that delight patients and keep them coming back to the office, leaving positive reviews and staying loyal patients - - Secure Messaging - Mobile-friendly patient portals - Online reviews - Text-based reminders - Convenient health updates
- Molly – The main challenge with providers, is that there is a lack of reimbursement, More time, resources, and technology Providers have rightly been wary of any terms related to Patient Engagement. There simply has not been enough reimbursement and enough available technology to bring the convenience that large companies have brought to their customers. - Providers see little revenue in engaging patients. - Patient Engagement spells more time, less money. - Little available IT solutions. - Questions of who would administer engagement solutions or activities. - Liability questions have not been so clearly answered.
- Molly – that’s why they see this as a loss leader. Providers have rightly been wary of any terms related to Patient Engagement. There simply has not been enough reimbursement and enough available technology to bring the convenience that large companies have brought to their customers. - Providers see little revenue in engaging patients. - Patient Engagement spells more time, less money. - Little available IT solutions. - Questions of who would administer engagement solutions or activities. Liability questions have not been so clearly answered. But, it can increases patient loyalty and word of mouth referrals.
- John -- Larger healthcare provider groups have finally started to purchase or build Patient Engagement solutions to its patients with astounding success. Organizations like KP have shown that bringing the consumerization conveniences to patients is quite profitable. - Mobile Apps bring both convenience and a brand lift to provider groups. - Price Patient Engagement into copays (One Medical) or premiums (KP). - Leverage secure messaging to LOWER costs! - Use SMS not for just convenience, but to reduce no shows and even fill in last minute cancelled appointments. - Use Patient Engagement to generate new word of mouth referrals. - Use online appointment bookings to reduce administrative costs. - Use ReCare tools to generate the maximum amount of potential revenues per patient per year.
- John -- Larger healthcare provider groups have finally started to purchase or build Patient Engagement solutions to its patients with astounding success. Organizations like KP have shown that bringing the consumerization conveniences to patients is quite profitable. - Mobile Apps bring both convenience and a brand lift to provider groups. - Price Patient Engagement into copays (One Medical) or premiums (KP). - Leverage secure messaging to LOWER costs! - Use SMS not for just convenience, but to reduce no shows and even fill in last minute cancelled appointments. - Use Patient Engagement to generate new word of mouth referrals. - Use online appointment bookings to reduce administrative costs. - Use ReCare tools to generate the maximum amount of potential revenues per patient per year.
- Molly – New generation of marketing automation software/Same things available to big companies are now available to small practices. Smaller, independent practices are starting to invest in Patient Engagement, and while the technology solutions that have been available to large organizations have not traditionally been cost effective for small practices, a new wave of cloud-based IT offerings are beginning to level the playing field. - How SMS reminders work - Appointments - ReCare - Referrals / Reviews - Also think about - Bill Pay - Patient Portals - Facebook Page and Social Media for health content
- Molly – marketing automation really comes down to 3 Rs. Smaller, independent practices are starting to invest in Patient Engagement, and while the technology solutions that have been available to large organizations have not traditionally been cost effective for small practices, a new wave of cloud-based IT offerings are beginning to level the playing field. - How SMS reminders work - Appointments - ReCare - Referrals / Reviews - Also think about - Bill Pay - Patient Portals - Facebook Page and Social Media for health content
- John -- I’ve always called what we do as “Reminder Marketing” because appointment reminders are the top of what marketers call the “Funnel.” - Appointment reminders start a cascade of revenue generating effects. - Reducing missed appointments - Now “in” the phone of your patients - ReCare messages can now be sent - One can ask for reviews - Some patient behaviors to be prepared for - - Patients may respond to the texts - Patients may use your last text to contact you for their next appointment - So it’s important that any appointment reminder system using SMS be sophisticated enough to handle this type of 2 way messaging.
- Molly -- Bottom Line: Low patient engagements means more no-shows. Appointment no-shows can hurt a practice’s bottom line. Improving patient engagement doesn’t have to be complicated.
- Molly
- John -- And the results bear out the survey data…
- Molly – Like a lot of things it’s both people, process, and technology.
- John
- John -- Online reputations have become a cornerstone of a growing business whether it’s in healthcare or retail. We’ll examine of couple of interesting case studies and research reports that attempt to quantify this new social currency. - Stanford Study - What does it tell us? - Harvard Study - What does it tell us? Key takeaway? Key takeaway is that a one star increase in online reviews has a measurable affect on annual revenues! - IT solutions - Review automation solutions are best tied to appointment reminders - Because asking a patient for a survey should not be done on a solo basis, but only after a patient feels “engaged.” - Handling bad reviews - It’s critical to understand TOS before asking for a review be removed. - I recently had a similar successful experience with Glassdoor.
- John --
- John --
- John – Perhaps one of the most overlooked aspects of Patient Engagement is that it can be a mechanism to bring patients into the office as much as those consumers should be seeing their providers. And while it’s known that males are famous for not seeing a doctor as frequently as they should, both men and women often need reminders to get the maximum amount of provider face time as they should. - There are two types of ReCare messaging - Routine visits - Can be seasonal - dental end of year, back to school physicals, winter weather - - Condition specific - Requires integration into EHR - Let’s explore the question of whether condition specific ReCare messaging creates more workload for providers. - Short answer is yes. It appears to be the case, at least in this early stage of findings in independent practices.
- John --
- John -- Perhaps one of the most overlooked aspects of Patient Engagement is that it can be a mechanism to bring patients into the office as much as those consumers should be seeing their providers. And while it’s known that males are famous for not seeing a doctor as frequently as they should, both men and women often need reminders to get the maximum amount of provider face time as they should. - There are two types of ReCare messaging - Routine visits - Can be seasonal - dental end of year, back to school physicals, winter weather - - Condition specific - Requires integration into EHR - Let’s explore the question of whether condition specific ReCare messaging creates more workload for providers. - Short answer is yes. It appears to be the case, at least in this early stage of findings in independent practices.
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