The “Consumerization Of Healthcare” Is Threatening Hospitals’ Bottom Lines – Is Your Team Prepared?
Updated: Aug 26, 2019
The consumer landscape is experiencing some dramatic changes thanks in part to the vast amounts of information available at our fingertips. When it’s this easy to find answers to all your questions, a lack of transparency and access is becoming unacceptable. This is especially important for those in the healthcare industry to pay attention to: For the first time, patients are transforming from passive recipients of healthcare services to active participants in their own health.
A recent research report from Business Insider Intelligence explains that the consumerization of healthcare is redefining how consumers engage with providers across each stage of care. Patients are more well-informed than ever before, seeking out guidance before heading to a hospital, and in many cases searching for care from alternative sources. Patients are now foregoing traditional hospital services and instead opting for urgent care and retail care clinics.
“Only 8% of US hospitals and health systems demonstrate strong consumer-centric performance.”
This is problem hospital leaders can’t ignore: only 8% of US hospitals and health systems demonstrate strong consumer-centric performance, according to a 2018 Kaufman Hall survey. In order to retain patients—and keep them from straying to alternative care services—providers must transform their services with an emphasis on transparency, access, and ongoing engagement outside of the clinic.
Hospitals that partner with experienced service providers can accelerate these shifts by leveraging their excellent customer service and knowledge of the changing consumer landscape. Highlighting specialized services such as 24/7 in-house neonatology will provide patients with the information they need to make choose the best providers in their area.
“Hospitals need to partner with a practice that is focused on increasing quality, improving outcomes, and growing relationships in order to be successful.”
The report outlines how patient behavior, preferences, and expectations have changed, and summarizes how the patient experience offered by providers today isn’t conducive to loyalty. In order to retain patients, and keep them from going to non-hospital services, hospitals need to partner with providers who not only offer incredible care, but who also demonstrate emotional intelligence and quality customer service.
While there are a growing number of specialized providers in the United States, hospital administrators must choose those who are committed to growth, innovation, productivity through people, and customer service. “Hospitals need to partner with a practice that is focused on increasing quality, improving outcomes, and growing relationships in order to be successful,” says Dr. Kim Costello, Executive Director of Strategic Relationships at Onsite Neonatal Partners. The NICU she leads received the highest culture and safety scores across the hospital network after our neonatal practice contracted with St. Luke’s in Bethlehem, PA.
Read the full article here and gain access to the full report from Business Insider Intelligence. Onsite Neonatal Partners is a national neonatology group offering 24/7 in-house care at hospitals across the country. To learn more about our services and what partnership with Onsite looks like, click here.