Marketing to Generation Y

In a blog posted to the Huffington Post by Krystine Dinh titled Forget The Stereotypes, Know The Data — Marketing To Millennials Dinh encourages us to look at millennials as informed and charitable consumers.  In the article, Dinh chronicles several interesting statistics pertaining to generation y such as:

• 21.7% are likely to use a      Mac
• 23.2% are likely to follow      internet humor and culture
• 58.8% are more likely to      have a graduate degree
• 17.9% are more likely to      use a pay day loan

By discovering trends associated with the millennials we are presented insight into a well-informed group that is charitable and informed but also associates their identity with brands and operates with establishing shared media for social content in mind. Effective marketing to millennials begins with understanding the generation itself and not selling them short as consumers. Once that is accomplished, the introduction of an effective target marketing campaign with proper content into the proper media channels can begin. For other interesting information about generation Y trends be sure to check out Dinh’s blog via the above link.

Harness Past Success for Future Business

The ability to obtain referrals from current patients can breathe new financial life to a practice. A recent blog by Jill Nesbitt titled Grow from your past success chronicles several simple steps to ensure your firm is maximizing its marketing success and referrals.

Nesbitt advises documentation of every new referral by inquiring of the new patient who refers them to the practice. A simple thank you to the referring patient in the form of a card or in person can make all the difference to ensure future referrals from that patient as well as adding a personalized touch. Nesbitt also recommends that use of tracking software (or a spreadsheet) to break down where additional referrals ore coming from whether it be patients, yellow pages, internet, or other various sources. By compiling the spreadsheet or running a report at least every six months practices can gain insight into the allocation of valuable marketing dollars. The implementation of referral metrics combined with a strategic marketing partner can ensure your efforts are focused and the maximization on return of your marketing dollar.

Procedure Proficiency Marketing

An interesting article on yahoo news from September 21, 2013 titled Surgery Videos as an Online Medical Marketing Technique details how hospitals are using procedures as social media marketing. Recently Memorial Health Care System of Chattanooga Tennessee posted a free webcast giving viewers the opportunity to view operating room procedures. The webcast not only gave access to a patients open-heart surgery but also allowed the viewer to follow along be editing and narrating the video. In addition, viewers had the opportunity to live chat with the physician who performed the operation. Locally, the Arnold Palmer Hospital for Children here in Orlando Florida  not only  allowed virtual access for a procedure requiring a 3-year old to receive a heart graft, they provided live updates via still images with commentary to various social media sights every ten minutes.

Plans to live stream such procedures rather than provide still photos or edited content after the procedure are in the works for the near future. Hospital administrator’s hope that the live content will be shared across social media to attract potential patients as well as illustrate professional confidence to other would be referring physicians. Potential patients are likely to share the content to inform others about the procedure they will endure and physicians are likely to share such content as learning tools and/or to establish best practices. This new form of marketing is in its infancy but looks to be gaining steam by providing a platform for physicians to demonstrate proficiency and establish credibility with professionals, prospective patients, and current patients while generating sharable content.

What’s the Going Rate? Examining Variations in Private Payments to Physicians

Physicians everywhere are getting paid different amounts for administering the same treatments. This is sometimes because the cost of living varies from place to place, but there are other factors that haven’t been researched yet. Stanford health policy experts have teamed up to find answers. What they found was interesting; some doctors were paid twice the amount as others to perform the same procedures. This wasn’t due to characteristics of the patient or the physician, but mostly due to the geographic area.

Michelle Brandt talked with Laurence Baker of Stanford to ask a few questions about the findings in the study. Brandt asks:

1. Were you surprised by what you found?

It was surprising to them that there weren’t more explainable factors. The variations in price were large regardless of how routine the procedure was.

2. Did you expect geography to be more of or less of a factor?

Baker expected it to be more of a factor, but there needs to be more investigating.

3. Why is a better understanding of price variation important?

It is important to know why things are priced so differently because there could be a market power controlling prices which is bad for consumers, according to Baker. There can be improvements made in the system when patterns are examined.

4. Your analysis was done on claims from 2007, well before health reforms took effect. Do you think your findings would be different if you examined claims from this (or next) calendar year?

The professionals don’t believe prices are going to change any time soon due to health reform. The only change might be prices will become more transparent to patients.

5. What are you next steps in regard to this line of work?

They plan to focus projects on measuring large practice effects on prices and hospitals effect on prices.

 

To read the entire interview head to:

http://scopeblog.stanford.edu/2013/09/10/whats-the-going-rate-examining-variations-in-private-payments-to-physicians/

UCF’s first University-Sponsored Residency Program with Osceola Regional Medical Center

UCF’s College of Medicine will be partnering with Osceola Regional Medical Center in Kissimmee to introduce a new residency program in the summer of 2014. ORMC will be training new physicians that have graduated from the medical program for their residency, UCF sponsoring the program.

ORMC is a nationally recognized hospital for their excellence in heart failure and smoking cessation programs, meeting the guidelines given by the American Heart Association. This 317 bed, multi-specialized facility will be the perfect place to house aspiring medical professionals and leaders.  

The medical center will not only be accepting residents from UCF, but qualified candidates from all over the country. UCF and ORMC have a few ties together including UCF’s Associate Dean for Clinical Affairs, Ralph Caruana, was recently appointed to the Osceola Regional’s Board of Trustees.

There will only be 10 spots in the residency program, starting July 2014. As it progresses, that will eventually change to 30 spots. Read more on the affiliation at:

http://www.linkedin.com/groups/Part-Solution-Osceola-Regional-Medical-4856304.S.248493443?qid=20a91845-c892-4ec1-9dd7-39e75b4dfe28&trk=groups_guest_most_popular-0-b-ttl&goback=%2Egmp_4856304

Medical Identity Theft, Too Easy to Commit

Did you know someone can walk into a hospital with a fake ID with your name on it or your stolen ID and they can be treated? It’s as easy as that for someone to steal your identity and commit medical fraud. Although HIPAA does its best to protect private medical information, it actually can get in the way of helping someone deal with medical identity theft.

A perfect example of this is Anndorie Sachs. Her ID was stolen by a woman named Dorothy Bell Moran. Moran was a meth addict that was pregnant, so she stole Sach’s ID and went to a hospital in Utah to have the baby prematurely. It is child abuse in every state if a baby is born chemically-dependent. Knowing this Moran walked out soon after she had the baby. Unfortunately for Sachs, this was all under her name so she was the one getting charged with child abuse and her other four real children were at risk of being taken away.

This is a scary realization; thankfully Sachs was able to resolve most of the issue. However, because Moran still has privacy rights, Sach’s can’t look at her own medical record and remove the procedures actually given to Moran under her name. This happens to many people; medical identity theft occurs and then often the victim is left with the medical bills to pay for or legal fees to settle it. Employers can research medical history and credit and see unpaid medical bills and procedures that you didn’t even receive. An inaccurate medical file can be very dangerous, as well.

It is important that you keep a personal medical record yourself. Keeping track of this can save you in a legal situation. Also, if your ID is ever stolen, report it immediately.

Read more on medical identity theft at:

http://www.orlandomedicalnews.com/medical-identity-theft-too-easy-to-commit–cms-1657

Just Text Me

Several weeks back we did a blog on how to infuse new business into your practice by targeting retiring baby boomers and equally important is targeting the business of millennials. Abraham Whaley writes in his blog titled. 5 Vital Facts About Marketing Medical Services to Millennials by Greg Fawcett of Precision Marketing Partners that a one size fits all approach is out these days. Indeed, with three separate segments to market to, millennials, baby boomers, and everyone in between one must consider their overall marketing strategy.

As Whaley points out, millennials are better educated, enjoy more privilege and have access to greater technologies then any generation before them. With convince being the name of the game with this generation, a target marketing campaign imploring social media is necessary. The way we target millennials must also be upgraded to reflect a more health conscious and active lifestyle. Marketing for screenings, checkups and proactive measures can provide a boost in patient registrations by marketing services millennials seek the most.

Projecting Medicare Advantage Enrollment: Expect the Unexpected?

Web Link: http://kff.org/medicare/perspective/projecting-medicare-advantage-enrollment-expect-the-unexpected/

Heads UP!!!  Medicare open enrollment is coming soon to a town near you.  While the health policy world is preparing for the continued implementation of the Affordable Care Act, private insurers are getting ready for this year’s Medicare open enrollment period in October.  This period allows Medicare beneficiaries with an opportunity to enroll in a new Advantage plan or switch plans.  Simultaneously, the insurance carriers are deciding whether they will offer more or less Medicare Advantage Plans in 2014. 

The ACA has reduced the formal benefit payments due to overpayments to plans but is offering incentive “bonuses” for those who perform better quality services and rated better.  Due to the recent cut in payments, there is an expected decline in Medicare Advantage enrollees.  The Centers for Medicare and Medicaid Services (CMS) has suggested that there is a need to increase and improve upon the incentive-based system.

 

Despite these predictions, Medicare Advantage numbers actually appear to be climbing (by about 30%).  Although there is no clear reason for the climb, one effect that appears to be significant is the increase in incentive payments.  This may be effectively offsetting the payment reduction, allowing more plans to remain.  There is uncertainty about whether this current boost in enrollees is based on dollars and cents or maybe the aging population is dictating the numbers.  This is something worth keeping an eye on, especially if you rely on patients who have Medicare Advantage.

 

 

 

 

Jay-Z’s Prescription for Marketing

While Dr. Dre has yet to write a prescription, Jay-Z has been delivering the cure for an ailing business. Through self-branding Jay Z and emerge as a mogul as the owner of an NBA franchise, rap artist, clothing entrepreneur, and now sports agent. Across generes and regardless of economic conditions Jay-Z has constantly been able to reinvent his business.

In his article titled What Doctors Can Learn from Hip Hop Mogul Jay-Z, Abraham Whaley states that doctors must take a page out of the Jay-Z playbook to continue attracting new and potential customers. Whaley credits Jay-Z as having discovered the initial stages of what we now know to be content marketing. Three simple ingredients, conducing market research, rendering free services, and always separating yourself can be the recipe for major success.  A strategic marketing partner to ensure proper content marketing may be just what the doctor ordered!

What’s Missing from Most Healthcare Marketing Programs?

According to Dan Dunlop, there are many key elements missing from effective healthcare marketing programs. He believes there are 8 elements present for success.

1. Patients – They should have more input and steer marketing directions
2. Physicians – Physicians and healthcare marketers should explore new areas of relationships.
3. Community building – Bringing the community together and educating them should be a top priority for marketers.
4. Dialogue – Healthcare facilities and systems should be communicating regularly with each other and consumers.
5. Integration – Communication should span across all departments, facilities, areas, and platforms. The more informed each aspect of the system us, the better the delivery.
6. Online Video – Sometimes a visual can make all the difference; face to face interactions and instructions are replacing simple text.
7. Wellness & Prevention – Preventative health is an important direction to start heading in for cost reduction and health increase.
8. Segmentation – Catering to a heterogeneous audience requires operating on many platforms such as social media and other audience engagements.

For more on marketing program suggestions go to:

http://healthcaremarketing.ning.com/profiles/blogs/infographic-what-s-missing-from-most-healthcare-marketing-program