The Value of Patient Experience
Hospitals with higher patient satisfaction scores have profit margins 2.5 time larger than those hospitals with lower patient satisfaction scores (“The Value of Patient Experience,” Deloitte Healthcare Solutions, 2018)
More than 73% of satisfied patients will stay with their current provider and 70% of them will tell another person about their positive experience” (“The Patient Experience Consumer Study 2018,” The Beryl Institute)
Patients reporting high patient satisfaction scores and good patient-provider communication were 39 percent less likely to be re-hospitalized (“Good Patient Satisfaction, Communication Tied to Low Readmissions,” Patient Engagement HIT, December 2017)
- Increase Revenue
- Raising patient satisfaction scores produces increase in revenue
- Better Patient Experience
- Predictive analytics leads to pro-active communication
- Prescriptive messaging results in better provider-patient interactions
- Reduce Costs
- Shorter length of stay
- Lower re-admission rates
- Reduced malpractice claims
Engaging the operators provides them the opportunity to share and learn about leading practices from their peers and see the results of their efforts. They better understand the metrics of how to read and comprehend the reports. The sharing of results also fosters a friendly competitive spirit as everyone wants to show positive results.
-Myles Foley, Regional Vice President
We are using it to make decisions around patient menu and programs. Information is reviewed bi-weekly with patient service work group. The other positive is we moved the RDs to strictly clinical, while the Patient Service Supervisors are being trained to visit their customers.
-Eileen O’Donoghue, General Manager
Innovative, agile and extremely responsive, HydraCor and its AdvoCor platform is an ideal partner. The AdvoCor approach has helped redefine our strategy and demonstrated the ability to drive patient satisfaction outcomes, differentiating us in the marketplace.
-Alison Saine, Director Patient Insights & Experience, Sodexo Global Healthcare