Website Referer
GLOBAL OUTREACH METHOD SECTION
There has been a consistent rise in the number of people who need healthcare over the years especially with the passage of the affordable care act. It is argued that approximately 20 million uninsured Americans have gained insurance coverage. (RCM 2019). This has created an opportunity for medical practitioners to increase their client base. There are several strategies that can be employed to successfully increase an organizations client base. In the report, we would discuss some of this strategies; examining their pros and cons and then making an informed recommendation on what the best strategy should be.
In this report, we have discussed the three most significant strategy for increased patient volume. These three, from survey, have the highest return on investment and conversion rate. They include the use of customer referral, social media marketing and search engine optimization. Also, we have chosen the best of three based on the one with the best return on investment and conversion rate.
METHOD 1: CUSTOMER REFERAL
Referral marketing is when an organization gets its customers to tell their friends about its products and services in the hope that they can also become customers. Like any marketing, referral marketing (also known as word-of-mouth marketing) usually happens organically. It is argued that 92% of consumers trust recommendations from people they know and that referrals can influences up to 50% of ALL purchasing decisions. (Ong 2020). This and the fact that referrals have the lowest cost per lead make it one of the most cost effective strategies for increasing patient volume.
However, a downside to referral is that an organization may not be able to control growth and what type of customers it takes in. it could also have a hard time increasing prices.
METHOD 2: SOCIAL MEDIA MARKETING
Social media platforms are fast becoming a useful health resource not just for millennials but also for older adults who have used social media to seek and acquire health information. 41% of people said social media would affect their choice of a specific doctor, hospital, or medical facility. And with the latest boom of the healthcare industry and the need for up-to-date news, it is imperative that an organization seeking to increase its patient volume avails itself the use of various social media platforms which include but not limited to the following; Facebook, Instagram, tiktok, WhatsApp etc. the advantages of using social media include; Increasing awareness for health topics and issues, disseminating information quickly and its cost effectiveness. Some disadvantages include; maintaining compliance, balancing professionalism while being engaging and approachable and avoiding negative responses.
METHOD 3: SEARCH ENGINE OPIMIZATION
Search engine optimization is a powerful tool for getting your medical practices or hospital network to the top of the search engines. A large part of SEO involves using the right optimal phrases and keywords so that Google can understand your healthcare organization‘s websites and be sure you rank for the proper, relevant and pertinent healthcare-related search terms (e.g., medical conditions, healthcare professional treatment of any type).
The challenge with search engine optimization is its competitiveness. There are over 200 million internet websites up and running today. This means there are people who would be offering the same product and service as global outreach. Also, search engines and algorithms have a way of changing constantly. Therefore, it requires being innovative or creative and also being prepared to adapt ones strategy.
PROFERRED METHOD – OPTIMAL STRATEGY
After careful review of various analysis strategies, we are recommending customer referral as the way to ensure optimal increase in patient volume to the organization. We have made this choice on its conversion rate and their return on investment. The chart below shows an analysis of the various selected strategies for increased patient volume. The return on investment is a tool used to directly measure the amount of return on a particular investment, relative to the investment's cost. It is a ratio between net income and investment.
As shown in the chart, customer referral shows a conversion rate of 50% and a return on investment of 50% making it the most optimal of all the strategies.
Chart showing the analysis of various strategies to increase patient volume
REFERENCES
Ong, S., 2021. The Ultimate Guide to Referral Marketing in 2021 - Oberlo. [Online] Oberlo.com. Available at: https://www.oberlo.com/blog/referral-marketing> [Accessed 12 April 2021].
RCM, R., 2021. Five Ways to Increase Patient Volume and Grow Your Medical Practice. [online] R1rcm.com. Available at: <https://www.r1rcm.com/news/5-ways-to-increase-patient-volume-and-grow-your-medical-practice> [Accessed 12 April 2021].
Hanson, S., & Yuan, H. (2018). Friends with benefits: Social coupons as a strategy to enhance customers’ social empowerment. Journal of the Academy of Marketing Science, 46(4), 768-787.
Submitted by: Blessing, Ursula, Edwige. Meghan
GLOBAL OUTREACH TELEREHABILITATION
CategoryCold Calls
Word of
Mouth
Free
Products
Customer
Refferals
Search
Engine
Optimization
Social
Media The Press
Holding in store
promotions
Creating Viral
campaigns
Conversion
rates2%40%2%50%1%23%1%3%13%
Return in
Ivestment 1%30%1%50%1%22%1%3%13%