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AMM 186: Elevating Patient Experience with Nextech’s Game-Changing Insights
August 30, 2024
This episode dives into the critical role of patient experience in healthcare and its impact on financial success. With patient leakage costing hospitals millions annually, creating a positive patient experience becomes essential. The discussion highlights strategies borrowed from the aesthetics industry, emphasizing the importance of personalized care and excellent service. Listen in to discover how small improvements in patient interactions can lead to increased loyalty, better patient retention, and a thriving healthcare practice.
Quick Takes
- Patient leakage is a significant barrier to financial success in healthcare, with 65% of healthcare executives identifying it as a problem.
- Creating a positive patient experience is crucial for trust and loyalty, leading to financial success for healthcare institutions. The average hospital loses between $200 million to $500 million annually due to patient leakage.
- Health systems can learn from the aesthetics industry in delivering top-notch patient experiences. Small improvements, such as enhancing online interactions and training staff in soft skills, can have a big impact in retaining patients and attracting new ones.
Episode Transcript
Happy August 30, 2024! Today, let’s talk about the importance of patient experience in healthcare, which is more critical than ever. According to a report by ABOUT Healthcare, 65% of healthcare executives identified patient leakage – patients leaving their health system’s network – as a significant barrier to financial success. Picture this: the average hospital loses between $200 million to $500 million annually due to this issue.
Creating a positive patient experience is the secret sauce for trust and loyalty. It’s not just about care; it’s about the feeling patients get throughout their journey – from the first “hello” to the final bill. When patients feel valued and supported, they are more likely to return and even bring in new patients through word of mouth. This is especially crucial in today’s consumer-focused healthcare landscape.
Traditional health systems can actually learn a lot from the aesthetics industry. Often referred to as “retail medicine,” aesthetics practices thrive on delivering top-notch experiences from the get-go. Why? Because failing to “wow” a patient means losing them, which translates to significant financial loss. Small tweaks, like improving online interactions or training staff in soft skills and conflict resolution, can make a huge difference.
Think of the patient experience as a journey. Each touchpoint, from online research to the waiting room ambiance, is a chance to build trust and rapport. Robin Ntoh, vice president of aesthetics at Nextech, underscores the importance of personalized, patient-centric strategies that can turn every visit into a positive, memorable experience. So, let’s strive to make each patient feel prioritized and appreciated, because ultimately, their satisfaction is the foundation of a thriving healthcare practice.
