How to boost profits by boosting patient engagement
Improving patient satisfaction is more than just a numbers game—it’s an opportunity to deliver an experience that shows patients how valued they truly are. And while happier patients are more engaged in their healthcare and more generous with their referrals, they’ll also have a powerful impact on your bottom line. Improving the experience for your patients is crucial for the health of your practice. Learn how to boost profits by boosting patient engagement.
Modern patients have little patience for what they perceive as the inefficiencies of the healthcare system. For example, a survey of 5,000 patients found that 97% were frustrated with wait times at the doctor’s office. Likewise, 60% of patients say they would choose a provider who eliminated the burden of paperwork by allowing them to fill out forms online before an in-office appointment.
And they aren’t merely griping. Your patients will have no problem leaving for greener pastures when it comes to wait times, billing errors, lack of follow-up, or poor customer service. Take note, because all of these factors are under your control.
Of course, improving the experience for your patients isn’t just about retention. It’s also about revenue. Over a lifetime, the average patient influences $1,075,000 in physician-related expenses for his or her household, according to 2010 U.S. Census Bureau statistics. So a better experience results in better patient retention and, ultimately, more revenue. Improving the experience for your patients isn’t just about retention. It’s also about revenue.