1. Monthly Insights: NPS Dashboard Market Insights
Wednesday, January 16th, 2019
Monthly Insights:
NPS Dashboard
Market Insights

2. Meet the Market Insights Team
Allison Thomas
Director, Customer Success
Michelle Ostia, Customer Success Associate
Kristin Larson, Customer Success Manager
Marty Hager, Customer Success Manager
Jenifer Therrien,
Customer Success Associate
Ryan Hatt,
Customer Success Manager
Shannon McCann, Customer Success Manager
Jo McElwain, Customer Success Manager
John Palmer, Strategic Analyst
Sara Nelson, Customer Success Manager
Jillian Fast, Customer Success Associate
Zach Zobel,
Product Manager

3. Market Insights Reporting Resources
Find this webinar, past webinars, and other resources here:

4. Webinar Agenda Need to measure Loyalty in healthcare NPS Definition
NPS Dashboard
The Bigger Picture – Loyalty Index

5. 48% 75% Confusion remains #1 emotion associated with healthcare
of all healthcare consumers are frustrated
75%
of frequent (3x/yr) healthcare users are frustrated
Confusion remains #1 emotion associated with healthcare
Consumers are confused/frustrated….and only half the market has used healthcare in the past 3 years. So we are asking the frustrated half of the population if they would recommend us. Good to know but there is opportunity waiting for us out there.

6. Q: Would you consider yourself a loyal customer of a local hospital or health system?
63% would use a non-traditional provider, etc. – 40% are not loyal to a health system

7. Why should we care?
The average lifetime value of a healthcare consumer is enormous and continues growing. Lack of loyalty represents an opportunity for millions in additional revenue gain…or loss.
Average Lifetime Value of an individual $1.4 Million
A similar, post-ACA study by UCLA in 2015 found similar outcomes: patients who are treated by the same doctor on a regular basis go to the emergency room/are hospitalized less frequently than those who bounce between multiple providers
MetroHealth - $3,800/customer/year – 1% loss = $20m in lost revenue
Consumers with consistent relationship with PCP cost the system 1/3 Less
Converting Loyalty: Potential Revenue
(CMS, 2014)

8. Measuring Loyalty through NPS
Net Promoter score is used in and out of industry as a way of measuring loyalty with 1 simple question:
“How likely are you to recommend <<brand/product>> to a friend, family member, or colleague?”
Highlight NPS as an effective tool and how it has been used.
We have established that Loyalty is important in improving the bottom line in Healthcare. In order to improve anything we need to be able to measure it, when we look at ways of measuring loyalty, the most accepted and tested way is NPS (Net Promotor Score).
For those of you who are not aware of how NPS is calculated, the idea is simple. Ask one question immediately after a consumer uses a product or service. That question is “How likely are you to recommend (Brand/product/service) to a friend, family member, or colleague?” (0-10 scale). You then take the percentage of responses that answered 9/10 (promotors) and subtract the percentage of responses that answered 0-6 (detractors). The end result is your Net Promotor score, or the percentage of those out there promoting you over detracting from you (unless you have a negative score).
NPS is a very effective way to easily understand advocacy based on the experience. This is a key focus of the healthcare industry and the expectation is to have an exceptional experience in healthcare. If a facility is not providing great experiences on a regular basis, they will not be in business long. However, based on our research, what we know of consumers and learned from other industries we understand there is more to the loyalty story. It is more than experience alone. About 46% of consumers have reported utilization a facility in the past 3 years. That means there is untapped potential to build loyalty with over 50% of consumers.

19. The Most Important Metrics
87% say reputation is very important or important when selecting a facility
Brand
61% of consumers online ratings and reviews are very important or important in selecting a facility.
Engagement
88% of consumers say a facility covered by their insurance is very important or important in selecting a facility.
Need
77% of consumers say convenient location is very important or important in selecting a facility.
Access
72% of consumers say cost of service is very important or important in selecting a facility.
Motivation
80% of consumers say previous experience is very important or important in selecting a facility.
Experience
62% of consumers say Recommendation of family and friends is very important or important in selecting a facility.
NPS (Advocacy)
February 1, 2019

20. A single metric for healthcare loyalty
Simple
Use a single, trackable metric to inform marketing strategy, report on marketing ROI, and gain leadership buy-in for marketing campaigns.
Holistic
Hone in on the most important aspects of consumer loyalty by assessing your strengths and weaknesses across each of the seven aspects.
Comparable
Know where you rank amongst peers in various geographic regions and understand the strengths and weaknesses of your competitors.
Insightful
Use the correct data to design informed marketing strategies focused on driving patient acquisition, and ultimately growing consumer loyalty.
Summarize our breakout discussion and the Loyalty Index. We keep it simple and we measure it as a holistic approach so you are able to see the entire picture.

21. Loyalty Index scoring - example

23. Questions & Feedback