In any industry, business development is a tough job. But in healthcare, business development is especially challenging because of its uniqueness. It’s dependent on patient-focused channels like wellness programs, physician referrals, and community events.
Upon closer look, the Affordable Care Act has significantly changed the equation when it comes to the way healthcare is delivered. The balance of power has shifted toward the patient, and changed the way healthcare needs to be marketed and sold.
Here’s how the equation looks today:
Value-based care + steep competition = Empowered patients.
When compensation is based on the value of care, not just the services rendered, it’s the patients who determine, to a certain extent, the quality of their care. And because quality of care is a subjective metric, and the market is intensely competitive, healthcare consumers are more empowered than ever before.
To sustain profitability, providers need to take a patient-centered approach and prove they deliver better healthcare options than the competition. In other words, the pressure is on to serve as many patients as possible—and serve them well.
For provider business development teams, that means creating patient-centered strategies that will win more customers, more quickly, to drive more revenue.
Unlock new service lines and new revenue streams with your EHR data
Realigning your business development strategy to meet the needs of the current healthcare environment may seem daunting. But here’s the good news: The information you need to create an effective strategy is already sitting in your hospital’s electronic health records (EHR). As you know, your EHR system holds a wealth of patient data that can provide your team with the insights they need to personalize patient acquisition and retention programs.
Unless, of course, that goldmine of EHR data is trapped away in a siloed system that can’t generate insights and business intelligence to help drive revenue.
If that’s the case, you’re not alone. Poor interoperability, resulting from historically siloed data systems, is becoming a growing concern across the entire healthcare industry.
Enter, the Microsoft Dynamics 365 Healthcare Accelerator. We created this solution to help healthcare providers achieve true interoperability and realize the full potential of their EHR data to drive revenue.
Imagine being able to create a customized postpartum care plan to meet the specific needs of an expectant mother who attended a birthing class. Or being able to identify people searching for “hip replacement surgery” and then reaching them with the right message to pull them in as a patient. It doesn’t stop there, however. After they get their hip replaced, imagine being able to nurture them into a rehab program based on their unique experience and where they are in their recovery. This type of personalized and effective acquisition and retention strategy is no longer a dream, it’s now a reality.
Unleashing your data’s full potential is easier than you think
The Dynamics 365 Healthcare Accelerator solution adds a robust set of features to the already extensive productivity suite offered by Dynamics 365 and the Microsoft Cloud. Designed specifically for the healthcare industry, it unlocks EHR data and integrates with our Common Data Model so that data not only flows freely but is also accessible and insightful across departments.
How does the Dynamics 365 Healthcare Accelerator fit into the business development function? It unifies patient data so you can:
- Know when to start a new service line. Consider your EHR data to be your Point-of-Sale data. It can help you understand where your patients are and when they’re ready to act.
- Gain a 360-degree view of your existing patients’ behaviors, needs, and motivations to inform your outreach approach.
- Strengthen your relationships with better and more personalized insights.
- Create wellness programs and events around the needs of your community and tie directly to the service lines you wish to grow.
- Inform the decisions needed to drive and manage physician referrals.
- Empower your team with advanced tools for lead scoring, pipeline health, and the next best action through Dynamics 365.
As the healthcare model continues to evolve toward value-based care, the Dynamics 365 Healthcare Accelerator provides you with the patient-centered insights you need to build better business development programs that will win more customers, drive more revenue, and grow your healthcare organization.
Learn more about Dynamics 365 Healthcare Accelerator
Learn how to advance your systems across the board with Microsoft Dynamics 365 Healthcare Accelerator. Our new eBook illustrates how to unlock interoperability to help you reduce costs, increase revenue, and manage risk to improve patient outcomes dramatically.