When it comes to increasing hospital or medical group revenue, no group is more vital to a healthcare organization’s success than its referring physician audience.
Unfortunately, many health systems do not understand, or they choose to ignore, the very specific needs of this audience.
It has been estimated that referral leakage for a health system can average anywhere from 55-65%. If 55-65% of revenue is lost due to leakage, then an organization is missing out on substantial income per physician per year. For example, in a hospital with 100 employed/affiliated providers, total leakage could potentially cost the health system tens of millions per year.
To properly engage physicians, marketing and communication efforts should be a key part of any referral management strategy. These efforts need to be relevant and timely. But, perhaps more importantly, the efforts need to be engaging and create an honest and open avenue for sincere and valued two-way communication.
If you would like to talk more about the best ways to identify and incorporate physicians as true marketing partners and reduce referral leakage, contact us.