Significant revenue growth and increased conversions through a personalized patient experience were key takeaways at the “Personalization at Scale – Rising to the Challenge” session at the HIMSS (Healthcare Information and Management Systems Society) Conference in Chicago on Thursday morning.
John Wagner, Vice President, Value-Based Care Growth, Lucerna Health, presented how driving a deep, personalized patient experience through rich, unified data delivers significant monetary benefits.
“Healthcare personalization drives relevance and lift,” said Wagner, who attributed the delivery of an omnichannel patient experience with engagement rates and conversions that blow away industry benchmarks to the Redpoint CDP and journey orchestration capabilities.
Wagner said that an omnichannel campaign using the single patient view with Redpoint produced a 33 percent conversion rate of 400,000+ patients who scheduled needed appointments, compared with a 6 percent industry standard, equating to roughly $7 million in revenue. The conversion rate for the Hispanic population, Wagner said, was over 50 percent. Patient surveys resulted in an addition $7 million in bonus payments.
“We drove 77,000 patient leads to a practice at $5 a lead, less than a quarter of the industry cost average.”
– John Wagner
Personalization techniques, said Wagner, included sending 1,000s of personalized SMS or email messages, each tailored specifically to a patient’s preferences and behaviors, as granular as changing a hero image to reflect their personal physician, having a personalized call to action or targeted messaging.
Redpoint improves operating efficiency by matching the right patient to the right care based on health condition as well as financial arrangements with payers, particularly the value-based care (VBC) population – which is most of Medicare.
“We maximize value to the patient through an omnichannel engagement campaign that is based on personalization,” Wagner said. “We drove 77,000 patient leads to a practice at $5 a lead, less than a quarter of the industry cost average. You do not generally find this type of focus with very many healthcare system.”
The omnichannel approach, builds off its own success. Attributing over 500,000 patient visits to an outreach campaign since using Redpoint’s Journey Orchestration, the results feed back into the system, with the Redpoint orchestrating even deeper value-based engagements attuned to an individual patient’s healthcare journey.
“The platform takes in patient data as an experience occurs and plays it back. It populates a provider team’s dashboard, and that insight panel optimizes patient engagement on a just-in-time basis,” said Wagner.
For more on how the Redpoint CDP and Redpoint Journey Orchestration help deliver a personalized healthcare experience, click here.
