How Patient Experience Data Will Shape Healthcare’s Financial Future

When it comes to selecting a physician, someone they entrust with their health, the patient experience is key. The online conversation around your brand can show you the aspects of patient experience that are attracting and retaining patients for your practice.

Improving patient loyalty and decreasing patient churn can significantly increase an organization’s revenue. Increasing retention rates by 5% can increase profits by 25% to 95%. It is also more cost-effective to focus on loyalty – patient acquisition efforts cost five times more than efforts to secure existing patients.

Automating survey requests and patient experience analysis can save time by helping healthcare professionals quickly analyze consumer sentiment and trends. Practices can capture more meaningful feedback through surveys and reviews today and use those insights to increase ROI tomorrow.