What is Patient Relationship Management & Why Is It Important?
As U.S. health care shifts to value-based care, providers and payers scramble to find ways to improve patient satisfaction and outcomes. The U.S. Department of Health and Human Services plans to tie 90% of traditional Medicare payments to value.
Digital health companies often step in to help healthcare businesses meet their value-based payment goals with digital solutions focused on patient engagement and care management. However, as many of these health care companies try to scale, they discover that it’s quite difficult. This is largely due to the fact that they often need high staff-to-patient ratios to effectively manage patient relationships. Care teams often try to manage these patient relationships by tracking interactions manually on spreadsheets.. Too often with these methods, patients slip through the cracks.
When this happens, patient outcomes suffer and health care organizations may not meet their value-based care goals, affecting their top line and bottom line revenue.
What digital health companies and patient care teams need is a scalable way to create care plans, foster patient relationships, and gather valuable data to help them continue to grow and more effectively help patients.
Healthcare teams need a Patient Relationship Management solution that helps them build best-in-class programs with proven methods, create workflows that help care teams effectively engage patients, and identify exactly where patients are slipping through the cracks so they can find better ways to meet their needs and have positive outcomes.
What is Patient Relationship Management?
A Patient Relationship Management solution or PRM for short is a technology that streamlines and facilitates communication between patients and their care teams.
Care teams often need to create care plans that help them reach patients at scale. With a Patient Relationship Management software, all communication is housed in one platform so teams don’t have to constantly switch between tools and spreadsheets. Teams can quickly see which patients need different engagement methods to reactivate them in their care.
Why is Patient Relationship Management important?
It helps growth companies scale.
PRM helps growth companies scale. They are able to keep costs low while bringing in top line revenue. Using a PRM platform helps a coach foster relationships with more patients in less time to cut back on operational inefficiency and staffing costs.
It helps keep patients from falling through the cracks.
Health care organizations often lack insights and data about which patients may be at-risk. With a PRM solution, care teams can quickly pinpoint where a patient is in their care plan and if they need reactivation or different engagement methods to help them stay on track. For patients with chronic disease who need to make adjustments to their behavioral health, this is especially important. Coaches can see where they may need extra guidance to help them make the lifestyle changes they need to manage their condition.
It improves patient satisfaction
According to Accenture research, poor customer experience leads patients to switch health care providers at similar rates as they switch hotels or their phone providers for the same reason. Around 7% of patients will find a different health care provider if they aren’t satisfied with their experience resulting in a $100 million hit in annual revenue on average for the hospital.
By engaging with the patient through the care continuum, care teams can work to make sure the patient is satisfied and reaching the health outcomes they set out to achieve.
It helps improve team job satisfaction
Tool fatigue – switching between multiple programs or apps to complete a task – can kill worker productivity and make it difficult for team members to do their jobs efficiently. They often spend more time on administrative work than on doing what they love about their jobs – caring for patients. Using a PRM solution to streamline the relationship management process helps them spend more time with patients and less in spreadsheets and email.
Foster strong patient relationships at scale.
Reach more patients in less time to activate them in their care plans. A PRM solution gives your care teams the tools they need to spend more time focusing on patients, keep track of where patients are in their care plan and re-engage patients who may be slipping through the cracks.
Read more about Patient Relationship Management, why it matters for an evolving healthcare landscape, and how a solution can help your team save time and money by downloading our ebook: