Improve Your Patient Mix to Get a Better Payer Mix
Posted on Jul 21, 2020 by Marilyn Bunderson
Use SocialClimb’s predictive analytics to improve your patient mix and stabilize your recovery from the shutdown.
The shutdown due to the COVID-19 pandemic has impacted lives and livelihoods around the world. In some parts of the United States, surgeries are currently being scheduled with new protocols in place to keep healthcare workers and patients as safe as possible. As you fill your schedules in coming months, it’s important to take steps to ensure that you attract the best patient mix to build your revenue quickly.
Medical practices and hospitals have taken a financial hit, and the decisions you make now will influence the speed of your recovery. You can build your revenue quickly by negotiating better fees from your payers (good luck with that), or you can attract a better mix of patients that bring a healthy payer mix.
How Do I Improve My Patient Mix?
A good patient mix looks different for every practice and even every physician. One component of your patient mix is the type of procedures your doctors want to focus on. One doctor may want to focus exclusively on hip replacement surgeries, and that may naturally include more government insurance. Another doctor may choose to focus on ligament repair or even minimally invasive bunion removal. Whatever the case may be, your marketing efforts should actively target the patients your doctors want to work with.
Another important element of your patient mix, one that directly impacts your operating margin, is your payer mix. Your patient reimbursements need to be a healthy combination of commercial or “private” insurance, government insurance (Medicare and Medicaid), and self pay. Private insurance tends to reimburse at a higher rate, so you need to bring in enough patients with private insurance to cover costs.
Leaving that mix to chance is a risky proposition. We can help you focus your marketing efforts on attracting privately insured patients to get you back on track more quickly. What we offer goes way beyond what other reputation management organizations have access to. We’ll get you plugged in to the necessary data with our powerful predictive analytics.
Use Our Predictive Analytics
Our predictive analytics gives you access to the same big data hospitals use in their marketing efforts. The artificial intelligence (AI) tools we have in place will interpret that data to help you target your marketing efforts specifically to those patients who are ideal for your doctors and your practice.
With our predictive analytics tool, you can see zip code areas with high concentrations of patients at risk for specific medical conditions your doctors want to focus on. We have 240+ care models for you to choose from. In addition, those metrics can be cross referenced with zip codes that also have a higher percentage of people who carry the type of insurance that will most benefit your practice.
Once you have your preferences and your geo target set with our predictive analytics tool, you can select a “Playbook” that will populate your Boost Ads with appropriate keywords. Your ad will be automatically built and sent out to prospective patients targeted to attract your best patient mix.
Call us today at 866-338-8270 to see how we can improve your patient mix and get your revenue growth back on track. Or click on the button below to set up a demo.
Posted in Automated Practice Marketing