The healthcare industry is rapidly changing, and patients are the driving force. More and more consumers are applying retail behavior to healthcare and frequently shopping for a new physician. Establishing loyal patients who return to and recommend your organization is key to building a lasting competitive advantage.
The healthcare industry is rapidly changing, and patients are the driving force. Consumers are now applying retail behavior to healthcare. A 2017 study published by The Beryl Institute found that as many as 65% of American consumers are in the market for a new physician.
The Beryl Institute and SMG’s healthcare division Catalyst Healthcare Research collaborated on an important research initiative to determine what the patient experience (PX) means to consumers. At the international 2018 Patient Experience Conference, Jason Wolf, president of The Beryl Institute, presented an overview of this study for the first time.
Most of us do things differently in the digital age. We expect everything to be fast. Easy. Convenient. Those expectations don’t stop with retail stores and restaurants. We want the same from hospitals and doctors, and if we aren’t happy with the service we receive, we’ll look for another provider. So what can providers do to inspire loyalty?
Ten years of survey results paint a dismal picture. Hospitals don’t trust health plans. Physicians don’t trust health plans. And health plans register only a nominally higher rate of trust in hospitals and physicians.