Tag: healthcare access market research

Quality improvement in healthcare

Quality Improvement in Healthcare Using Business Intelligence

With the rising competition, the healthcare sector is transforming into a developed and complex marketplace. With the changing healthcare landscape across the globe, quality improvement in healthcare is garnering increased focus. Not only for the patients, but even for the forward-thinking healthcare companies, quality in healthcare has now become paramount. Although a lot of funding is going into training staff and procuring drugs and equipment in an effort to improve quality across healthcare facilities, we still find that many known clinical interventions are not reaching patients at the time they need it. This is one of the prime reasons why more and more healthcare companies are warming up to advanced techniques such as business intelligence in order to support performance improvement in healthcare services and ensure access to quality healthcare for patients. Healthcare providers can get the insight needed to reduce costs, increase revenue, and improve patient safety while remaining compliant with regulations by integrating business intelligence solutions.

Experts at Infiniti explains why every healthcare organization that emphasizes on quality improvement in healthcare processes must leverage business intelligence.

Business intelligence for quality improvement in healthcare

Accuracy in patients’ treatment history

Business intelligence solutions help merge all claims so that physicians are able to access them via EHR. This ensures that the data gathered is delivered flawlessly. It also enables the physician to see and understand each and every test and treatment that the patient has previously received, both at that facility and elsewhere, as well as any remaining tests that needs to be performed. Eliminating repeat tests helps save money and satisfies the patient who does not have to undergo repeat tests due to missing information. Through this the physician will be able to ensure quality improvement in healthcare treatment provided to the patient.

Personalized medication

With the help of business intelligence solutions, patient data becomes more accessible and analyzing patient data is now easier than ever before. As a result, treatment regimens are not required to follow the one-size-fits-all approach anymore. Rather, physicians provide superior quality in the healthcare treatment based on the patient’s past treatment record and current care requirements and enhance quality improvement in healthcare.

Prevention of certain diseases

Physicians can prevent diseases or at least help in reducing the impact of disease by analyzing genetic markers. By analyzing the data available through business intelligence, physicians can gain better insights into the patterns of determinants that have the ability to increase the patient’s risk of a particular disease. Such measures taken for prevention of disease can establish quality improvement in healthcare organizations.

Enhance healthcare logistics

By leveraging business intelligence tools to analyze patient throughput and enabling better decision-making on the population of the healthcare organization, hospitals can gain a comprehensive idea on the ideal discharge times. Consequently, they can make the best use of bed space without sacrificing patient outcome and promote quality improvement in healthcare. Furthermore, emergency and trauma patient cases can be more accurately prioritized and treated thus improving patient outcomes while minimizing costs by providing the right treatment at the right time.

Consumer experience in healthcare

Fine-Tuning Consumer Engagement in Healthcare

Owing to digitization and the rising market competition, consumer-brand relationships have evolved.  Top healthcare companies are trying to incorporate these developments in consumer-brand relations into their processes by building better consumer engagement in healthcare. According to Infiniti’s healthcare market research experts, the consumer engagement strategies followed by most healthcare companies today are archaic. Which means that it is high time for healthcare marketers to rethink and redesign their consumer engagement plan. While not every innovation and strategy may resonate with every consumer, there are certainly plenty of wins to be had. Below are some effective strategies to consider for better consumer engagement in healthcare.

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How to build Consumer engagement in healthcare

consumer experience in healthcarePersonalization

In order to ensure better consumer engagement in healthcare, companies in this sector must invest generously into ways to understand their customers better and personalize offers to suit their needs. This does not mean bombarding them with offers, but to present relevant, time-saving options in order to help them make better healthcare choices. Organizations who provide the best empathy and support to reflect their consumer’s emotion will succeed in gaining better consumer engagement in healthcare and rise above their competitors.

Innovation inevitably requires breaking down of existing barriers and substantiate the ROI that consumer experience investments can deliver. Get in touch with our experts to know more.

Optimize web experience

Since almost all top healthcare providers are going digital, it is essential to join the bandwagon to avoid being left behind. Websites are one of the key areas that healthcare organizations must work on. Efforts should be made to not only make the company website look attractive but including features such as online booking of appointments will ensure better and hassle-free customer experience.

Enhance mobile experience

Several food chains and apparel stores are offering top-notch mobile experience to their customers. Take inspiration from these players and focus on delivering mobile experiences on par with these players in order to enhance consumer engagement in healthcare. This will help simplify buying experiences and in the case of healthcare this means office visits, diagnosis and procedures. Healthcare companies can even consider implementing a loyalty program that offers discounts for parking, dining, or the gift shop, for patients and family members who frequently visit their facility.

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Future of healthcare

4 Factors Shaping the Future of Healthcare

The healthcare industry has experienced a myriad of changes ranging from public legislation to technological development over the past couple of years. With the increasing population and the rising need for enhanced healthcare services, we can expect the future of healthcare to be dominated by technological advancements to ensure the efficiency of both patient care and processes in healthcare organizations. In this blog, healthcare industry experts at Infiniti Research unveil factors that play a key role in shaping the future of healthcare.

The global health care industry doesn’t show any signs of slowing down in 2019. RFP to know what the future of healthcare would look like and learn how our experts can help you build strategies to survive the rapid changes in this sector.

Factors shaping the future of healthcare

Future of healthcareCosts

There is an increased demand for healthcare services in the US. Experts predict that consumer spending on healthcare is expected to rise exponentially over the next decade. However, the healthcare costs are also expected to see a rise in the future of healthcare industry. The lack of transparency in pricing in U.S. healthcare organization will add on to this challenge.

Aging population

According to recent reports, a quarter of the US population consists of baby boomers. This generation is estimated to have a greater life expectancy than any of the previous generations. This means that there will be an increasing need for continued medical care for this population in the future of healthcare. Furthermore, the rising population will spur the need for healthcare services. This means that healthcare talent management professionals will continue to battle head-to-head with their peers. Furthermore, the biggest growth areas for employment in the future of healthcare will be home health aides, geriatric nurses, physical therapists, and similar jobs.

If healthcare providers can transform their organizations to foresee future challenges and plan strategies to overcome them, they are one step closer to success in the long run. Get in touch with our healthcare industry experts to know how we help clients to keep a closer watch on their target markets.

Healthcare consumerism

One of the biggest trends in healthcare right now is consumerism, and this trend is expected to play a dominant role even in the future of healthcare. Patients now have gradually started to believe that proactivity on their part is critical to ensuring high quality care and better outcomes.  As a result, patients are now taking active participation in their care experience and are even more empowered to choose their care plans. Furthermore, decreasing levels of direct contact with medical professionals are becoming common, and in the future of healthcare, patients will be able to order refills, schedule appointments, and consult with their primary care physicians with the use of online patient portals.

Drugstore clinics

There is an increase in the prevalence of healthcare clinics across the US, and this growth is expected to continue through the future of healthcare. These establishments provide a wide range of services including treating sprains and shingles, administering pregnancy tests, doing diabetes monitoring, and much more. This will be a direct competitive threat for the healthcare organizations in the near future.

Learn more about Infiniti’s solutions for the healthcare industry

healthcare marketing strategy

Essentials for Creating an Unbeatable Healthcare Marketing Strategy

Every organization needs to have a marketing strategy to stay competitive in the marketplace. When it comes to healthcare, irrespective of whether you are a healthcare provider, health tech developer, or a medical device manufacturer, you need to have a strong healthcare marketing strategy in place in order to survive amidst the emerging trends and massive consolidations in the sector. To stay competitive and gain new business, it is vital to have an effective brand strategy and marketing innovation. In this blog, we’ve discussed some of the must-haves for a winning healthcare marketing strategy.

The best strategies are those that are customized to meet the demands of your organization. Request a free proposal for a tailor-made healthcare marketing strategy to suit your organizational needs.

Essentials for a strong healthcare marketing strategy

healthcare marketing strategyFocus on customer experience

Today, customer experience is one of the most critical factors of success for any business. Your healthcare marketing strategy should revolve around how your products/services will meet the customer needs and ensure better customer experience. An effective healthcare marketing plan must include creating a mobile-friendly website, undertake accessibility best practices for those with disabilities where needed (such as your website or product), enhance usability for your website, service, or product design.

Easier accessibility

Another essential factor to enhance your healthcare marketing plan is to become more accessible to the customers. Undertake efforts to minimize the time taken for patients to reach a hospital facility in order to undergo treatment. This can be done by adopting more advanced technologies in healthcare such as live chat platforms, extended support hours, and telehealth services.

Be where the audience is

For your healthcare marketing strategy to be successful, it is vital to identify where your audience is most active and establish your presence there. Some key questions to be answered here include – what are the social networks that the target audience is clustered around? Is there an opportunity to develop a mobile app? What is your ranking on various search engines? An ideal healthcare marketing strategy should be able to place you where your target audience expects to find you.

While building a healthcare marketing strategy, chances are that you overlook critical factors that may play a key role in influencing your target audience. Request a free brochure to know how our solutions for the healthcare industry can help overcome this.

Build inter-personal relationships

Healthcare is a sensitive subject, so the closer you get to your customers and the better relationships you build with them, the chances of your success becomes higher. Advanced capabilities such as big data and analytics can facilitate in formulating a good healthcare marketing strategy and build better customer relationships. Furthermore, it also helps to understand if there are any common patient or customer demographics that can be incorporated into your marketing message.

Increase security

Security is one of the key issues looming in the healthcare industry right now. All your efforts put into building a good healthcare marketing strategy can go down the drain if your customers do not trust you with their data. From electronic health records to customer login details, security best practices must be followed, and all the regulatory requirements should be adhered to.

healthcare industry analysis

Asian Healthcare Industry Analysis 2019: The Wows and Woes

According to our healthcare industry analysis for the Asian market, the sector is expected to record positive growth this year. The rising adoption of technology, innovative healthcare access programs, and growing healthcare industry trends like care delivery outside hospital settings are some of the vital factors fueling the growth of this sector. However, players in this industry still have to identify complex and innovative solutions that can tackle key healthcare industry challenges such as access and affordability in Asian countries. Other challenges in the Asian healthcare sector that requires immediate attention includes policy innovation, support for new business models, development of patient-focused technology platforms, and the evolving role of consumers in healthcare.

Based on a comprehensive healthcare industry analysis by experts at Infiniti research, we have listed out some of the top healthcare industry trends and challenges to watch out for in 2019.

Request a free brochure to know more about our services for the healthcare industry and learn how our healthcare industry analysis has helped several global players strategize their moves for different markets.

Asian Healthcare industry analysis 2019: Top trends and challenges

Healthcare industry analysisRising need for private health insurance

This year, Asian countries will see an increase in the adoption of private insurance, including in countries such as Japan and Singapore that has a strong universal coverage system in place. Our healthcare industry analysis shows that the rising cost of healthcare services is driving consumers to invest in better protection against healthcare-driven-poverty. Furthermore, insurance companies are also bringing in new channels of consumer penetration and wellness-focused products that use advanced technologies to manage consumer health better.

Rise of digital platforms in clinical trials

The increasing cost pressures and a decrease in new drug pipelines have prompted pharmaceutical companies to adopt digital solutions to gain greater efficiency in their research operations. Advanced technologies such as big data, artificial intelligence (AI), Internet of Things (IoT) devices, mHealth platforms, wearables, and crowd-sourcing platforms will facilitate new workflows in clinical trials management and their execution across Asian countries.

A comprehensive healthcare industry analysis is critical for players in the sector to understand the key opportunities and challenges in different markets. Request a free proposal for more insights on your target healthcare market.

Value-based reimbursement

The in-depth healthcare industry analysis of the Asian market conducted by experts at Infiniti Research suggests that value-based reimbursements will soon make its debut in Asian countries. The popular global trend of outcome-based payments and reimbursement models are currently missing in Asia. A closer look into the Asian healthcare industry analysis also shows that industry suppliers, including IT vendors, medical technology companies and pharmaceuticals are already partnering with public and private payers to introduce outcomes-based reimbursement models for expensive therapeutic products and services. Japan is expected to be the first country in Asia to introduce an outcomes-based reimbursement model with China potentially following suit in the near future.

Growth of Home health monitoring platforms

The rise in tech-enabled homecare platforms, which was introduced in Asia a few years ago will start generating returns as well as ecosystem level partnerships that will consequently result in better market sustainability. Based on Infiniti’s healthcare industry analysis, experts also suggest that the industry will move to the next level with the increasing adoption of home-based sensors, robotics, and AI-enabled home health monitoring platforms.

Learn more about Infiniti’s solutions for the healthcare industry

healthcare innovation

Why Healthcare Organizations are Holding Back Innovation: Three Barriers to Healthcare Innovation

Healthcare, not only in the United States but also in most developed countries of the world is ailing and in desperate need for help. Although the industry has made some advancements in case of healthcare innovation over the past few years, the packaging and delivery of treatment are often inefficient, ineffective, and not customer-friendly. Currently, key challenges in the healthcare industry range from medical errors to the soaring healthcare costs. The US government has been spending billions of dollars annually to identify healthcare innovations that can overcome these hurdles. Despite this, several of these efforts sometimes fail, leading to heavy losses for investors.

In this blog, healthcare industry experts at Infiniti Research discuss three key barriers to healthcare innovation.

Emerging healthcare industry trends and transformations will bring about significant challenges in the US healthcare industry. Request a FREE brochure to learn more about our services and on how we can help you tackle new healthcare industry challenges.

Unaligned budgeting units

Hospitals are generally organized by clinical departments, care centers, and other ancillary departments each with their own budgets. As a result, it becomes difficult to align those budgets and department goals in such a manner that one innovation works for all budgets. These decentralized budgets often lead to limited investment in healthcare innovation projects which could ultimately benefit the patient throughout the entire care cycle. Experts at Infiniti suggests that a single, unified budget dedicated just to healthcare innovation could help address the problem of hospitals not taking advantage of innovative solutions.

Rigid annual operating budgets

The annual budget model that hospitals usually operate under makes it difficult to invest in recent technologies and other healthcare innovation. Furthermore, investing in healthcare innovation will likely reduce their available funds for the rest of the fiscal year. Unless the payback period from the new healthcare innovation investment is realized in the current year, hospitals tend to reject the proposal to buy new technology. To overcome this, players in the healthcare industry can consider moving toward a budget process wherein the healthcare organization allows each department to keep a certain portion of the savings it created from the ROI of the new technology for future year budgets.

Winning empowered consumers is critical at a time when patients are demanding more in response to rising costs. Not sure how to achieve this? Request a free proposal to know how our tailor-made solutions can help you.

Separating operating- and capital-budget timelines and process

In many healthcare systems, technology hardware and perpetual software licenses are paid for with capital budgets. Whereas, annual subscription models commonly used by software as a service (SaaS) solutions are purchased with the operating budgets. So, the source of funding (capital or operating budget) rather than the functionality and performance of alternative solutions determines the purchases made. In order to overcome such healthcare innovation barriers, organizations should purchase new technology not based on whether it fits into capital or operating budgets, but by weighing the performance and ROI of each solution that they are considering.

Learn more about our solutions for the healthcare industry

Healthcare market research

Why is Healthcare Market Research the ‘New Normal’ For Providers?

In the US healthcare sector, there is relentless focus being given to understanding patients and determining ways to improve patient care. For an extremely complex and sensitive industry like healthcare, market research is vital to identify the actual needs in advance and undertake evidence-based decision-making rather than being reactive to a perceived need. Healthcare market research is all about analyzing and interpreting data to obtain information that can be used to predict future events, actions, or patient behavior. Furthermore, the escalating cost, intense competition, a larger number of choices, and growing dissatisfaction among patients are some of the key factors making healthcare market research vital for survival.

Request a free brochure to gain more insights into our healthcare market research services and understand how we can help your organization engage in data-based decision-making.

Benefits of healthcare market research

If you are still not convinced why your organization must invest in healthcare market research, here are some key factors to consider:

Fill service delivery gaps

Healthcare solutions are overly complex and sophisticated in nature. Using healthcare market research services, providers can assess and identify gaps in their service delivery model and thereby generate stronger patient relationships and outcomes. For instance, with the help of healthcare market research, providers can assess if the staff is struggling to manage data capturing processes and identify ways to solve this issue to ensure that the engagement remains strong in the future.

Finding it difficult to identify service delivery gaps in your organization? Request a free proposal to know how we can help!

Gain product and service development insights

With the rising competition in the healthcare sector, customer acquisition and retention cannot rest on the organization’s past success alone. It is essential to be constantly updated on the changing customer needs and identify new market innovations. Healthcare market research helps organizations in the healthcare sector to remain innovative and updated on the most practical and profitable ways to enhance their product/service offerings. This is highly useful in not only increasing the customer retention rate but also in increasing new customer acquisition.

Stay ahead of market competition

Earlier, only a few major organizations supported by numerous smaller and niche providers dominated the healthcare market. This is not the case today. Owing to the rise in disruptive technology and the influx of venture capital from investors who are keen on high-risk, high-reward models, the healthcare market is now experiencing higher convergence and competition. Although for consumers of healthcare solutions this is a positive development as it leads to more choice and better prices, for businesses in the healthcare sector it means that they are at risk of finding themselves competing with a larger number of players for the same market share. Healthcare market research is a smart, strategic and proven hedge against this risk as it helps healthcare providers stand out in the market through a clear, and actionable understanding of who they need to reach, why and how.

What are some of the key best practices for successful healthcare market research? Download this free resource to find out:

 

Healthcare Market Research Blog COVER

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IR26

The US Healthcare Industry Analysis 2019

The US healthcare industry is increasingly moving from volume-based to a value-based model wherein the key focus will be on improving patient health and ensuring that they are given good care. A value-based model in the healthcare industry would mean lesser revenues/profits for the providers. However, our healthcare industry analysis reveals that treating patients like members of the healthcare system will eventually increase the brand loyalty, help improve goodwill and brand reputation, and thereby enhance the overall health of the nation.

Why is strategic healthcare industry analysis important for providers? Read this blog to find out.

Benefits of Strategic Analysis in the Healthcare Industry

An effective healthcare industry analysis helps providers to stay updated with the latest trends and challenges coming their way. Request a free brochure to know how healthcare organizations can leverage Infiniti’s solutions to stay abreast of the dynamic market.

Top healthcare industry trends 2019

As the healthcare industry makes the shift towards a value-based system, here are some of the key US healthcare industry trends to watch out for:

Healthcare Industry analysisWant to know more? Download free resource from Infiniti Research to gain comprehensive insights into the top trends for 2019 based on our latest healthcare industry analysis.

The future of healthcare industry

The aging population, rising rate of chronic diseases, and exponential advances in innovative, but costly, digital technologies continue to increase health care demand and expenditures. Based on our healthcare industry analysis, here’s our take on key events that would redefine the future of healthcare:

Creating financial sustainability

The performance of the US healthcare ecosystem is greatly being impacted by the increased use of advanced technologies, the rising popularity of personalized medicine, and the demand for expanded care delivery sites. Furthermore, a closer look into the results of recent healthcare market research studies shows that healthcare spending is expected to rise over 5% annually from 2017-2022. Companies in the healthcare sector are now stressing rigorous financial management, efficient operational performance, outcomes-based care, and development of innovative solutions. As a result, there could be improved care provision, reduced costs, declining margins, and aligned cost structure and care models. We can also expect to see developing public-private partnerships and companies in the sector learning from industries outside of healthcare.

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Our healthcare industry analysis suggests that three out of five healthcare providers face difficulty in maintaining financial sustainability. Request a free proposal to find out how we can help you overcome this challenge.

New care delivery models

As discussed earlier, as the healthcare sector in the US is moving from volume to value based delivery models. This will require building an outcomes-based financial model and data infrastructure that will facilitate and maximize value-based care reimbursement pathways. Factors including patient preferences, clinical innovations, and changes in government program payment policies are pressurizing healthcare organizations to shift to alternative points of care. Stakeholders across the healthcare ecosystem must collaborate around new approaches to funding and delivering sustainable healthcare. Investments in advanced technological capabilities such as telehealth could expand services while also helping organizations bend the cost curve.

Regulatory compliance and cybersecurity

Data is the new healthcare currency. So, it is vital for providers to protect healthcare data. The rising market complexities and increase in the number of data breach cases have amplified the need for stringent regulatory and risk management-related government policies. Apart from this, it is critical for healthcare providers to strengthen their focus on compliance and ethics. Focus must also be provided to driving awareness throughout the enterprise.

Cybersecurity is an ongoing issue in the healthcare sector. Read Infiniti’s blog to discover five great ways to improve cybersecurity in healthcare.

5 Great Ways to Improve Cybersecurity in Healthcare

Infiniti’s healthcare industry analysis solutions

The growing healthcare market offers several new opportunities and risks for companies in this sector as well as for those that operate in the broader healthcare value chain. Today, the healthcare industry is at a tipping point, due to which leading market players are now partnering with best-in-class healthcare industry analysis providers such as ours. We provide comprehensive healthcare industry analysis and explore new avenues and markets for growth.

 At Infiniti Research, we help healthcare players to address market challenges by delivering in-depth healthcare industry analysis that highlights the key factors that drive undercurrents of change in healthcare. Our expertise in the field of market research enables us to offer tailored and incisive market intelligence solutions that empower healthcare leaders to gauge how prepared and well positioned they are for the future.

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