What is your healthcare marketing ROI?

Healthcare marketing needs to keep up with the times and change as much as overall healthcare. It's time for healthcare marketing departments to step out of the show and tell marketing communications approach to tracking campaigns, making assumptions of its effects on revenue and produce real Return on Marketing Investment (ROMI) measures.

Work with your finance department.  With a high degree of collaboration and understanding between finance and marketing, you can lead and make a difference. By answering questions, concerns and opinions with solid data, you can move the discussion form marketing does “stuff’ to marketing is a financial contributor to the organization.

Below is an example of an actual ROMI computation that I completed for a multi-hospital organization. After this all was presented, all marketing campaigns going forward were tracked though the Physician Referral Call Center.

The method can be adapted to any campaign and provides you with the data fields and logical analysis you need. This has been edited to hide the organization.

An analysis was undertaken to look at the ROMI of the Physician Referral Call Center. The analysis matched a database of call center name records for the period to financial records which had already been downloaded. The analysis produced the following results:

• 9,102 call records were matched with utilization and financial data.
• 9,102 calls resulted in a total of 9,121 encounters in the ER, Inpatient and Outpatient categories of service.
• 751 encounters were ER
• 177 returning encounters
• 573 first time encounters
• 1,105 encounters were Inpatient
• 530 returning encounters
• 699 first time encounters
• 7,267 were Outpatient
• 2,014 returning encounters
• 5,253 first time encounters
• Total charges for all encounters equaled $22,522,649
• Charges for new encounters all services totaled $16,085,198 or 71 percent of the total charges
• Average charge per ER encounter $1,304
• Average charge per Inpatient encounter $13,581
• Average charge per Outpatient encounter $903
• Gallup measures loyalty at 68 percent (would return for service) which means that for every 100 patients 32 would not return for care- therefore:
• ED- 57 returning encounters captured that would not have returned
• Inpatient – 170 returning encounters captured that would not have returned
• Outpatient- 645 returning encounters captured that would not have returned
• Incremental charges counted returning encounters not loyal
•  ER - $74,337
• Inpatient- $2,308,851
• Outpatient- $582,505
• Subtotal charges counted: $2,965,693
• Overall market share in primary and secondary service area is 14.53 percent. The number of first time encounters have utilized us above market presence is therefore:
• ER 573 first time encounters, 83 not counted, 490 counted
• Inpatient – 699 first time encounters, 101 not counted, 598 counted
• Outpatient – 5,253 first time encounters, 763 encounters not counted, 4,490 counted
• Based on an overall market share of 14.5 percent the incremental charges counted for new encounters not because of market presence:
• ER - $638,960
• Inpatient – $8,121,438
• Outpatient – $4,054,470
• Total Charges counted: $12,814,868
• Discount from gross charges for Medicare, Medicaid, Managed Care, Bad Debt and Charity Care @ 65% is $8,326,644
• Net Revenue: $4,488,224
• PRCC program costs: $233,410
• Net contribution: $4,254,814
• ROI 18.22:1

So, do you still think you can't prove Return on Marketing Investment?

Marketing is a revenue department and will be more than ever as healthcare change continues unabated. Time for a lot of healthcare marketing departments and organizations to grow up and start proving their value.

Michael Krivich is an internationally followed healthcare marketing blogger with over 4,000 monthly pages views in over 52 countries worldwide. He is founder of the michael J group, a healthcare marketing consultancy dedicated to creating value through strategic marketing for hospitals and health system regardless of payment mechanism, either fee-for-service or value-based to increase market-share, revenue , brand and demonstrate actual return on marketing investment. Michael is a Fellow, American College of Healthcare Executives and a Professional Certified Marketer, American Marketing Association.

>>> What is your healthcare marketing ROI? >>>

Can hospitals use webinars drive volume and revenue?

In this day and age, with internet savvy audiences and patients who are networked to the web, social media, information and such, it seems silly that most healthcare providers would continue to offer only one way for individuals to access health and wellness programs. If you're not using webinars, then you're not meeting your patient/customer needs.

And it's pretty easy to do.

Using WebEx, Talk Ready, Go To Meeting for example, a 30-45 minute health and wellness seminar can be given on a day and tme more convenient for your audience. They can be recorded and archived on your web site for consumer play back at anytime of their choosing. You now begin to build up a library of self-generated health information that is branded to your organization, contains your key messages and promotes a specific service line or targeted capability.

Think about the possibilities for reaching out to employers this way as well. A webinar directed at Human Resource professionals in local companies.

For Accountable Care Organizations (ACOs), a way to keep in constant contact with your members providing targeted health information.

For physicians a way to hold a department meetings or offer CEU program that can be more convenient to them.

For the media and local press, a way to hold a press conference or announce a new service or technological application when they say there not coming on site.

The possibilities really are endless. Your imagination is your only limit here.

Okay, you can't do wellness screens this way, but it could be used to drive volume to the screens as a follow-up to the webinar.

Your Return on Marketing Investment

This strategy and tactic is designed to capture downstream volume and revenue. Let's face it, initially there is little return on a webinar. It's the post webinar relationship management and communication activities that bring the return. By capturing a webinars attendees information, you now have actionable data on which to design more effective marketing and communication programs. Mass marketing that is individualized. You can create a relationship that is more meaningful because it is based on their needs. You're improving customer experience.

So, its 2012 and change in healthcare, well it will be never ending. Time to expand your arsenal of strategy, tactics, tools and techniques to build relationships, loyalty , volume and revenue.

Michael Krivich is an internationally followed healthcare marketing blogger with over 4,000 monthly pages views in over 52 countries worldwide. He is founder of the michael J group, a healthcare marketing consultancy dedicated to creating value through strategic marketing for hospitals and health system regardless of payment mechanism either fee-for-service or value-based to increase market-share, revenue , brand and demonstrate actual return on marketing investment. Fellow, American College of Healthcare Executives and a Professional Certified Marketer, American Marketing Association.

>>> Can hospitals use webinars drive volume and revenue? >>>

Starting up Ioption affiliate program

The Ioption affiliate program consists of a number of programs and the brokers which also include the Option bit, the Eztrader and the Anyoption. The Ioption affiliate programs have also different kind of marketing tools based upon internet. Therefore the Ioption binary program is a brilliant option for all the webmasters who are interested in making money through the website which is related to the finance and forex markets. There are lots of websites which can read the reviews about the best forex affiliate trading companies or the brokers. For trading in the forex trading market the forex trader or the affiliate do not require to make any kind of complex preparations for the foreign exchanges and the forex brokerages. Therefore it is very simple that to register in the forex affiliate sites and depositing the funds for setting the forex account with the brokerage site. The forex affiliate program can be understood by the simple fact that in this you have to choose the asset and the expiration time in the forex market.

Choosing of Ioption affiliate program

The Ioption affiliate program success story has not been overlooked. It has become so popular these days and this seems a very good alternative if people want to earn some good returns in the terms of money. The selection of the underlying asset should be done very carefully. If the forex trader wants to enter the forex market then either they can start this with the direct trading option or the other option is to approach with entering the Ioption affiliate program. During the forex trading with the binary options it becomes very important that to stick to the forex markets and it will be very good if the forex trader is familiar with the asset or the commodity with which people are going to trade with. The Oil and the Gold are two such important entities which are followed by a lot of people.

Broad look at the Ioption affiliate program

The good point about the Ioption affiliate program is that the binary options are thought of as the tools which can be used for the management of the investment apart from the making huge profits and returns in a very short period of time. The binary option trade is supported by the trading in a fixed asset selected by the affiliates and the traders and the role of the assets play a very important part in the success.

>>> Starting up Ioption affiliate program >>>

The currency options for the binary affiliate

The binary affiliate trading market works twenty four hours and seven days in the week. The forex market has a very good scope for the future people. Therefore a large number of people can turn toward the currency options trading and therefore can become the forex affiliate. When the trader are trading in the foreign exchanges then perform the straight forward trading. The forex trading has seen a massive popularity in the recent times because of the advancement in the technology. The profit making opportunities also comes with very little changes and the alterations in the forex market. The people must exercise over the things which are important for trading in the forex market. The people must consider the risk factors which are involved in this currency trading before people really think about their profits. Therefore people must take a look at the two very important terms like the Call and the Put option which people needs to understand before getting in to the forex trading world.

More about the binary affiliate trading

The Call option used in the binary affiliate trading allows the forex trader to buy the share at the fixed time for the certain period of time and the Put Option allows the forex trader to sell. The internet based forex affiliate program must be studied systematically and people must make certain that product and the service which they offer is going to give the standard for the consumers. If the forex affiliate gives proper attention to the binary affiliate trading then it is certain that it is going to reap huge benefits. Being the binary option trader or the binary affiliate can be another way of earning the good revenues and the profits with the help of the currency option trading. It is surely a great way of support and this makes it possible better than the conservative form of promotion and advertising.

The binary affiliate trading basics   

It is very important that to keep an eye on the contract size, the strike price, the final settlement dates for getting better familiar with the forms of currency trading becomes advantageous for the forex traders. Every one starts the binary affiliate trading with the hope of earning good potential rewards and the profits in the forex market. Therefore the forex trader must be very careful and practical to work in the forex market. A lot of forex market traders fail at the forex options trading.   

>>> The currency options for the binary affiliate >>>

The binary affiliate program is indicator of good investment

Nowadays people can very easily find out the advertisements and the commercial advertisements about the binary affiliate program almost everywhere. All of them can be very easily and effectively found in the internet and the commercials, advertisements. All of the advertisements and the commercials easily indicate towards the fact that there are big amounts of income and earnings that can be very easily earned. If some one is new to the binary affiliate program then he may probably think that why to join the forex affiliate program.  The person who is going to join the binary affiliate program must think that how can he contribute in the tough process of earning money and the revenues from the competitive market. If the forex trader or any individual is curious enough to know about the binary affiliate program then he is being advised that to take special note of the important indicators and the pointers as well. The forex traders must ask few questions to themselves as what is happening in the forex trader and what is really there for him.

Some points about binary affiliate

 In some of the questions asked by the forex trader, one question which he must ask is what are the possible factors affecting the binary affiliate program. The binary affiliate program is relatively a new concept and simple form of the investment program. The binary affiliate program is a relatively new and a simpler type of the investment program. The binary affiliate program consists of the expiration time period which ranges from the thirty minutes to thirty days. It largely focuses on the speculation, estimation. The guessing of the direction and the path of the forex market of the asset plays a rather important role than the selling and the buying of the assets and the money itself. The binary affiliate program can very easily be done with the help of the stock, the commodity, currency and the index. All the economic circumstances happening all over the world play a decisive role in the success of the binary affiliate program.

The binary affiliate program is attractive

 The binary affiliate program is attracting a lot of people towards it and that is because of the growing trend of the internet age and the large number of the people who are becoming involved with the various ways of making online money. The forex trading is a simple kind of program which is being done.  

    

>>> The binary affiliate program is indicator of good investment >>>

Advantages of the binary partners

The binary partners can provide the binary traders with the very profitable and money making opportunities. The binary options have been the most recent software used in the forex market right now. Because of the lesser investment risk and the bigger chances of the greater rate of interest a lot of traders are now looking out for the investment in to the digital options. The people do not need to wait for a lot of years to get forex returns from the binary options trading and there is not much knowledge required to do it. Just be sure that to follow the steps in the binary options trading for getting the best results. The binary partners can help in the forex trading. People look up for the best effective solutions. The fundamental execution of the binary options trading revolves around the call and the put options in the financial investments. The binary options consists of the dual options that means the trader has got two options either select up side or down side of the financial assets as per the recent market trends.

More about the binary partners

In the binary option trading the forex investor chooses one kind of security for the investment and invests the particular amount in that security. The large percentage trade made in the binary option trading is what makes it more popular in the recent times. Off course it is pretty risky proposition for the daily traders. This is the reason why the binary partners have really come out as the choice for the forex trade individuals who wants to participate in the forex markets. After the digital options investment it is the forex trader who decides which way the security can go. The forex trader can chose down the put option or the up side call option which depends upon the market analysis with the help of the binary partners.

The binary partners can be helpful

Once the forex trader decides the possible direction and the binary trading software for the calculation of the final payments and the forex trader submits the concluding order. The companies which are known for their brand values will encourage the using of the forex affiliate marketing with the help of binary partners. The benefits given by the forex affiliate program are vast and in most of the cases the forex affiliate has nothing to do with the actual delivery of the products and the services.   

>>> Advantages of the binary partners >>>

Can you see the 10 signs of an ineffective healthcare marketing operation?

The arguments are in. SCOTUS has already voted on healthcare reform. The majority and minority opinion writers are chosen. Regardless, healthcare will continue to change in very fundamental ways. And that means marketing has to change as well.

Marketing strategy and effective marketing operations is everything today in healthcare marketing. And if you have a bad strategy or no strategy, combined with marketing operational deficiencies, then no amount of tactical execution will overcome ineptitude. Some of the verticals in the healthcare industry are notorious for no strategy and just plain bad marketing operations, following the herd and just keeping the internal audience happy with what they want.

Here are the 10 signs spelling marketing doom in your hospital or other healthcare organization:

1. The marketing plan is not integrated with the organizations business and financial plan.

2. Your brand messages are not clear, and are not integrated across internal and external audiences.

3. The CEO sets the marketing priorities based on what others are doing , the loudest voice in the room or just because he or she likes it.

4. Departments are creating their own logos and communications. Only coming to marketing to "make it look pretty".

5. Marketing has little or no resources allocated for market research.

6. Marketing does not have an organizational voice or champion.

7. Your marketing department can't demonstrate an ROI.

8. The triangle of Public and media relations, social media and internet and traditional marketing is nonexistent or if it exists, lacks integration.

9. Little internal communication throughout the organization regarding marketing efforts.

10. Marketing is not at the senior management table.

Healthcare is transforming from a provider-dominated and directed model, where these types of behaviors and operational deficiencies really didn't make much of a difference. In the evolving consumer or patient-directed and dominated healthcare model, continuation of these marketing operational structures and behaviors need to be weeded out.

The healthcare consumer will become a harsh mistress, and will not tolerate an unresponsive healthcare organizations. Old ways of marketing must be replaced with a new understanding of marketing in healthcare and its power in the marketplace.

Michael Krivich is an internationally followed healthcare marketing blogger with over 4,000 monthly pages views in over 52 countries worldwide. He is founder of the michael J group, a healthcare marketing consultancy dedicated to creating value through strategic marketing for hospitals and health system regardless of payment mechanism either fee-for-service or value-based to increase market-share, revenue , brand and demonstrate actual return on marketing investment. Fellow, American College of Healthcare Executives and a Professional Certified Marketer, American Marketing Association.

>>> Can you see the 10 signs of an ineffective healthcare marketing operation? >>>